Marriott BUYBACKS AND TAKEBACKS [2012 / Ongoing]

[SueDonJ]

I recieved an offer from Marriott on 1/14/13 to buy back my Sport week at Marriott Cypress Harbour. I was pleased to accept the offer of 2200 less the 500 processing fee.

I purchased the week resale a few years ago on ebay for $1 so I think my return on this investment was awesome.

Now time to buckle down and pay for the kids to go to college. No more traveling for the next few years so it was a good time to sell my only timeshare.

I want to thank others for passing on this information, otherwise I would have never thought to request a buyback :whoopie:

Every report about buybacks makes me happy - thanks for posting. It's not a perfect program and for sure it's been downgraded over the years, but it's better than nothing when folks want to get out. I'm glad it worked for you.

And good luck with the next few years! Enjoy them while they're happening because they'll fly by faster than any of your other child-raising years have.

 

[tschwa2]

Just to get an idea of how much Marriott is taking back right now you can look at Beaufort County Register of Deeds webpage. If you type in Marriott as one of the parties and search the last 30 days you will see 67 records but if you ask to see 90 days it won't let you because there are over 500.

 

[rpk113]

its offseason

Just to get an idea of how much Marriott is taking back right now you can look at Beaufort County Register of Deeds webpage. If you type in Marriott as one of the parties and search the last 30 days you will see 67 records but if you ask to see 90 days it won't let you because there are over 500.

If you look real carefully, its all shoulder season stuff. Bronze weeks... Their filling up the trust...

And marriott is paying between $1k and $3k per unit...

 

[SueDonJ]

If you look real carefully, its all shoulder season stuff. Bronze weeks... Their filling up the trust...

Could be, but we won't know for certain until it shows up here ...

 

[tschwa2]

If you look real carefully, its all shoulder season stuff. Bronze weeks... Their filling up the trust...

And marriott is paying between $1k and $3k per unit...

There are a few gold weeks here and there but it is mostly silver and bronze. That is good news for owners though, who otherwise might have trouble giving those weeks away.

 

[Beefnot]

There are a few gold weeks here and there but it is mostly silver and bronze. That is good news for owners though, who otherwise might have trouble giving those weeks away.

Seems like either Marriott is a bunch of unsavvy/disorganized business idjuts or this is unofficial confirmation PCC ebay sellers have been inflating the contractual figures on their ROFR submissions.

 

[Quadmaniac]

Seems like either Marriott is a bunch of unsavvy/disorganized business idjuts or this is unofficial confirmation PCC ebay sellers have been inflating the contractual figures on their ROFR submissions.

Why would that surprise me coming from PPC's ? lol

 

[Saintsfanfl]

Seems like either Marriott is a bunch of unsavvy/disorganized business idjuts or this is unofficial confirmation PCC ebay sellers have been inflating the contractual figures on their ROFR submissions.

Yes but Marriott could easily buy directly off eBay. I can see why it would be against policy though. Companies like Marriott have tight controls and there is nothing within controls about an eBay purchase.

I just got offered more than I paid for my weeks that I bought within the last 6 months on eBay net of all fees on both sides. It's not nearly the difference some are reporting with having paid $1 on eBay but I just bought a better view in hopes of selling one of the two so I will probably sell just one week for now.

 

[bogey21]

And Marriott is paying between $1k and $3k per unit...

Not a bad deal for Marriott. Sell the Week for between $8,500 and $12,000 and buy it back for between $1,000 and $3,000. Then turn around and use it to generate sales of Points. No wonder VAC stock is rising.

George

 

[Saintsfanfl]

Not a bad deal for Marriott. Sell the Week for between $8,500 and $12,000 and buy it back for between $1,000 and $3,000. Then turn around and use it to generate sales of Points. No wonder VAC stock is rising.

George

I just bought an Ocean Pointe Ocean Front Silver week that was purchased for $19,750 in 2005. I am guessing Marriott will buy it for $2,800 - $500. It costs 5,225 DC points to book this week for Thanksgiving. Crazy stuff...

 

[dioxide45]

If you look real carefully, its all shoulder season stuff. Bronze weeks... Their filling up the trust...

And marriott is paying between $1k and $3k per unit...

Filling up the trust with stuff where the MF allocation is more than $0.45 per point is going to cause the trust MFs to go up significantly. If they are putting stuff in there with MFs in the range of $0.60 or $0.75 per point, it will soon lead to trouble for trust owners. The MFs on trust points is high enough already, adding a lot of off season stuff isn't going to help.

I would expect a lot of these purchases may also be out of foreclosure sales and not purely buybacks.

Seems like either Marriott is a bunch of unsavvy/disorganized business idjuts or this is unofficial confirmation PCC ebay sellers have been inflating the contractual figures on their ROFR submissions.

I think this happens a lot, but it may not truly be inflated. Say I buy a gold MGV week and it includes 2013 use year. The PCC then submits the ROFR to Marriott with the Auction Price+2013 MFs+Closing Costs. They know that they won't get to perform the closing and MVCI won't have to pay that, so they want to make that buck somehow. They include all those fees and submit that as the ROFR price. Now is that an incorrect sales price? It can be or it could just be how you look at it.

 

[Saintsfanfl]

Filling up the trust with stuff where the MF allocation is more than $0.45 per point is going to cause the trust MFs to go up significantly. If they are putting stuff in there with MFs in the range of $0.60 or $0.75 per point, it will soon lead to trouble for trust owners. The MFs on trust points is high enough already, adding a lot of off season stuff isn't going to help.

I would expect a lot of these purchases may also be out of foreclosure sales and not purely buybacks.

I agree here. I do not think they are buying back loads of bronze weeks. Those records are likely due to foreclosures. They are buying back weeks in mass for the trust but I think they are balancing the point ratio. Silver Season OS at Ocean Pointe for example is very favorable for certain weeks and has an average ratio of $.41 for all the weeks in the season. Willow Ridge Platinum is also relatively favorable although there are some really bad ratio weeks in there. Willow Ridge Silver season is horribly unfavorable with only 900 points required to stay the week and I seriously doubt they will buy back a single one.

Are there any reports of buybacks of heavily unfavorable weeks?

 

[KHarm]

This site has been very helpful.

I own a Silver and Bronze week at Marriott's OceanWatch Villas at Grande Dunes. I am looking to sell my Bronze week as I have never used it. We have either exchanged it with Interval or traded for Marriott Reward points. I have completed an online form and left a voice message with Marriott and have not heard a word yet.

Has anyone had the same issue in getting information back from Marriott?

 

[Saintsfanfl]

This site has been very helpful.

I own a Silver and Bronze week at Marriott's OceanWatch Villas at Grande Dunes. I am looking to sell my Bronze week as I have never used it. We have either exchanged it with Interval or traded for Marriott Reward points. I have completed an online form and left a voice message with Marriott and have not heard a word yet.

Has anyone had the same issue in getting information back from Marriott?

You shouldn't have to leave a message. Did you call the resale department and was it during their working hours? After filling out the form you should have received a system generated email from MVCI Resale Operations that listed your options.

The number to the resale office is 866-682-4547.

Edit:
I would be shocked if they made you an offer on the Bronze. Alternatively you can join the wait list for them to sell it for you but that list is likely in the hundreds. Please report back on the results one way or the other.

 

[KHarm]

You shouldn't have to leave a message. Did you call the resale department and was it during their working hours? After filling out the form you should have received a system generated email from MVCI Resale Operations that listed your options.

The number to the resale office is 866-682-4547.

I called a different number, will call the above number now. THANK YOU!

 

[KHarm]

I called a different number, will call the above number now. THANK YOU!

Just spoke to them. There are actually 3 options:

1. Re-sell through Marriott. However, there is a waiting list in front of me as my resort is not yet included and she said it may be up 2-3 years due to the amount of people in front of me.

2. Sell myself, requires lawyer to close in South Carolina. Do I really want to deal with that?

3. Marriott Buy Back, fastest option, 150 days to close. However, I only received an offer of $ 1,750 minus the $ 750 fees for my OceanFront Bronze week which basically covers the maintenance fee I just paid for 2013. I also already traded my Bronze 2013 week for Reward Points.

I am now investigating donating my week through donateforacause.org and receiving a tax right-off. However, Option 3 will get me out much quicker and probably for more net dollars.

 

[tschwa2]

If you hadn't already traded your week for reward points then Marriott would also have re-imbursed your 2013 MF's in exchange for the week.

 

[Saintsfanfl]

First off option 2 has always been there, with or without their help.

Option 3 is a total steal. $1,000 for your Bronze week is a huge bargain. When a Bronze hits ebay it either doesn't sell or it goes for $1. Trying to recoup 2013 is irrelevant because you used it.

Donateforacause.org is highly questionable to fraudulent. They will require you to pay them an upfront fee (yes, you will have to pay them to donate your week) and then they will provide you with a grossly inflated tax write-off amount. That tax write-off number is not legitimate and if challenged will never hold up. You could make a case if you paid retail but technically that still does not satisfy the requirement.

Just spoke to them. There are actually 3 options:

1. Re-sell through Marriott. However, there is a waiting list in front of me as my resort is not yet included and she said it may be up 2-3 years due to the amount of people in front of me.

2. Sell myself, requires lawyer to close in South Carolina. Do I really want to deal with that?

3. Marriott Buy Back, fastest option, 150 days to close. However, I only received an offer of $ 1,750 minus the $ 750 fees for my OceanFront Bronze week which basically covers the maintenance fee I just paid for 2013. I also already traded my Bronze 2013 week for Reward Points.

I am now investigating donating my week through donateforacause.org and receiving a tax right-off. However, Option 3 will get me out much quicker and probably for more net dollars.

 

[KHarm]

If you hadn't already traded your week for reward points then Marriott would also have re-imbursed your 2013 MF's in exchange for the week.

Good to know. Timing is everything!

 

[Saintsfanfl]

What view do you own? Garden, Ocean View, Ocean Side, or Ocean Front?

I called a different number, will call the above number now. THANK YOU!

 

[KHarm]

First off option 2 has always been there, with or without their help.

Option 3 is a total steal. $1,000 for your Bronze week is a huge bargain. When a Bronze hits ebay it either doesn't sell or it goes for $1. Trying to recoup 2013 is irrelevant because you used it.

Donateforacause.org is highly questionable to fraudulent. They will require you to pay them an upfront fee (yes, you will have to pay them to donate your week) and then they will provide you with a grossly inflated tax write-off amount. That tax write-off number is not legitimate and if challenged will never hold up. You could make a case if you paid retail but technically that still does not satisfy the requirement.

THANKS again for your help!

 

[KHarm]

What view do you own? Garden, Ocean View, Ocean Side, or Ocean Front?

OCEAN FRONT (Silver too) which is why I thought their offer would be more like $ 2,250 minus the $ 750 fee. Probably due to the fact I already traded 2013 usage for Reward Points.

We love the resort, one of Marriott's best. We plan to use our Silver week forever at this resort. Which is why we did not change to the points system.

 

[Saintsfanfl]

OCEAN FRONT (Silver too) which is why I thought their offer would be more like $ 2,250 minus the $ 750 fee. Probably due to the fact I already traded 2013 usage for Reward Points.

We love the resort, one of Marriott's best. We plan to use our Silver week forever at this resort. Which is why we did not change to the points system.

If you hadn't traded your 2013 usage for points they would have reimbursed you the paid fee but it would not have changed the purchase price.

Enrolling in the points system does not prevent you from using your week as you normally do. It is not a "change" to the points system but more like an option that you elect on an annual basis.

Ocean Front does make a big difference but it still is only 1,125 points to book that week and very unfavorable for the trust.

 

[KHarm]

If you hadn't traded your 2013 usage for points they would have reimbursed you the paid fee but it would not have changed the purchase price.

Enrolling in the points system does not prevent you from using your week as you normally do. It is not a "change" to the points system but more like an option that you elect on an annual basis.

Ocean Front does make a big difference but it still is only 1,125 points to book that week and very unfavorable for the trust.

We just did not want to invest even more money to enroll in the points system, knowing we will always go to our home resort during the same week annually.

I'll probably move forward with the Marriott Buy Back as I do not want to wait for Marriott to launch a Brokerage Listing Program and have had no offers in the private sector, even with a listing price of $ 5,000.00

Thanks again for all or your helpful information.

 

[Saintsfanfl]

We just did not want to invest even more money to enroll in the points system, knowing we will always go to our home resort during the same week annually.

I'll probably move forward with the Marriott Buy Back as I do not want to wait for Marriott to launch a Brokerage Listing Program and have had no offers in the private sector, even with a listing price of $ 5,000.00

Thanks again for all or your helpful information.

Marriott sells my Ocean Pointe Silver OS week for $10,900 through their resale department. There are currently 525 people on the list for that specific week. If Marriott pushed resale as an option during the presentations they would actually sell them fairly quick, but they don't. Instead it would take years to get through the list and by then the price will be much lower than $10,900.