About

Important information

• Additional Info:

  On October 11, 2012, a member of the OKC-BBB staff attempted to confirm the physical address for the company as stated in its solicitation materials as forwarded by inquirers and complainants. The stated address is a large office building; Premium Properties Management does not appear in the building directory and conversations with building staff failed to confirm the business' location there. In fact, the only tenant of the floor of the building referenced in the company's stated address is the Oklahoma City Thunder, a pro basketball team.
  
  The company's mailings state that it acts as a reseller of resort properties and claims to be an international event planner. Consumers state that mailings sent by the firm propose a sale of a timeshare property. An agreement included with the mailing for signature by the property owner states that no up front fees are expected, but that a 5% commission is owed to First Premium Properties Management within seven days after the owner has received funds and a transfer fee of 10% will be forwarded upon closing. The agreement contains a number of grammatical errors; this can sometimes indicate a lack of familiarity with English which may be a cause for concern. (The firm's website contains similar errors of grammar and syntax.) Additionally, the timelines suggested by the agreement are suspicious. A typical scam in many venues is to forward a bogus check to a consumer for any number of reasons expecting some form of immediate repayment in return. If an unwary consumer forwards that repayment before the bogus check clears, the consumer will be out not only the promised amount of the original check, but whatever funds were forwarded to the sender. Also note that the firm appears to offer some form of security for the seller by arranging an escrow account through a Mexican bank supposedly involved in the transfer of funds in the sale of the vacaation property.
  
  The format of the contract and the overall approach and contacts made by the company are very similar to those made by other businesses in similar types of business that have cost would-be vacation property sellers as much as $76,000 in fees. The BBB cannot conclude that these businesses are being operated by the same individuals, but the overall description of the transactions surrounding the business are very similar. A check of the Oklahoma Secretary of State's database shows no registration for this firm.
  
  The BBB recommends extreme caution in dealing with the firm until more is known about the business and its practices. Also please note that this entity is using a name that may easily be confused with hundreds of other similar business names operating throughout the United States. If you are researching the business online, double-check the address to confirm that you are reviewing records on the correct company. This firm should not be confused and is not associated with Premium Properties Management in Tulsa, Oklahoma, which is a known firm, registered to do business in the state.