# Best Route to Take When Selling Your Marriott Week(s)?



## Smooth Air (Apr 11, 2014)

Hello, Tuggers!

How about some advice on selling your Marriott weeks(s)?

Of the following, which do you prefer?

1. Sell back to Marriott
2. Use a Real Estate Agent who specializes in timeshare sales
3. Post a "For Sale" ad on Redweek and sell privately
4. Post a "For Sale" Ad on TUG and sell privately
5. Something else

Any and all suggestions welcomed and appreciated.

Smooth Air


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## bogey21 (Apr 11, 2014)

Selling back to Marriott is straight forward but you won't get as much for your Week.  Still if you want to avoid hassle and get it done quickly, it is a decent way to go.

Many years ago I had Marriott sell (as agent) Weeks I owned (Sabal Palms and a Monarch Crown Suite).  Took a while but I got top dollar.  This was back when the commission was only 20%.  I think today it is something like 40%.

Also years ago I sold two different Marriott Weeks I owned on Hilton Head (Harbour Club and Heritage Club) using a local RE Company that focused on TS Weeks.  It took a while but I got the job done.  I netted more for my Weeks this way.  This is what I recommend if (and it is a big if) there is a local RE Agent specializing in selling TS Weeks.

It was a number of years ago and I ended up getting more than I paid for the Weeks overall.  The TS Resale Market has changed a lot since then tough.

George


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## Saintsfanfl (Apr 11, 2014)

You left out using Marriott as a broker. This is the same department that does the buyback offers and they will quote you both amounts. The broker option may involve waiting. This option is hands down the best one by a million miles. Not only will you get more than you can get through any other means, it is completely painless. There are weeks selling on Redweek all the time for less than the net amount to be received through a Marriott brokered resale.

Even at 40% commission you will find that the 60% is higher than the going resale amount, but sometimes you have to wait. If it is not a desirable week one could wait years or decades. High demand weeks don't even have a wait list these days.


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## BocaBoy (Apr 11, 2014)

bogey21 said:


> *Selling back to Marriott is straight forward but you won't get as much for your Week.*  Still if you want to avoid hassle and get it done quickly, it is a decent way to go.


From what I have seen and experienced, you actually net *MORE* (and often a lot more) for your week from either a Marriott buyback or from a brokered sale by Marriott than you usually can get by selling privately.  If they will buy your week back that is the best and easiest in most cases.


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## larryallen (Apr 11, 2014)

If you want it fast list it on Ebay. If you are in no rush then try one of the other means mentioned.


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## sparty (Apr 11, 2014)

If your week has decent demand - rent, don't sell. Redweek and Tug offer well viewed rental listings.


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## Saintsfanfl (Apr 11, 2014)

sparty said:


> If your week has decent demand - rent, don't sell. Redweek and Tug offer well viewed rental listings.



It depends on whether you want to be in the rental business. Renting isn't always trouble free. For good rentals you can usually also sell for many years worth of rental profit. I sold a couple through Marriott as the broker that netted me the equivalent of 5-10 years worth of potential rental profit. The net being my actual profit on what I paid vs what I netted on the sale. To me the pay me now was automatic. I don't know if rental demand will keep pace with the increase in fees.


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## bogey21 (Apr 11, 2014)

bogey21 said:


> Many years ago I had Marriott sell (*as agent*) Weeks I owned (Sabal Palms and a Monarch Crown Suite).  Took a while but I got top dollar.  This was back when the commission was only 20%.  I think today it is something like 40%.



OK, I said "as agent".  To my simple way of thinking "broker" and "agent" are the same thing.  I'm sure someone will tell me I am wrong.  Nonetheless, that's the way I think.

George


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## Saintsfanfl (Apr 11, 2014)

bogey21 said:


> OK, I said "as agent".  To my simple way of thinking "broker" and "agent" are the same thing.  I'm sure someone will tell me I am wrong.  Nonetheless, that's the way I think.
> 
> George



Yes it's the same thing. They take 40% today. But it is still a fantastic deal provided the unit needed to sell doesn't have a low demand and a 5 year backlog. 60% of Marriott list is still far ahead of resale prices for most of the units.


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## BocaBoy (Apr 11, 2014)

larryallen said:


> If you want it fast list it on Ebay. If you are in no rush then try one of the other means mentioned.


It is even faster if Marriott will buy it back from you.


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## dioxide45 (Apr 11, 2014)

Here are some lists, IMO only. This will vary some based on the demand for the unit you are selling.

In order of highest price to lowest. The channel to go through to sell.

Marriott Brokered Resale
Marriott Buyback
Real Estate Agent Resale
Listing on TUG, Redweek, MRN, etc
EBay

In order of fasted way to sell to lowest. The channel to go through to sell.

EBay
Marriott Buyback
Real Estate Agent
Listing on TUG, Redweek, MRN, etc
Real Estate Agent Resale
Marriott Brokered Resale

Of course, it all depends on what you list your price for if going the private resale route through TUG, Redweek, MRN, etc. You could sit on it for a very long time if not priced realistically.


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## LilMsFoodie (Apr 11, 2014)

I recently sold two EOY Gold Florida Club units through Marriott Resale.  Easy, fast and much better price.  From listing to closing with cash showing in my checking account in less than 8 wks.    I will get my final check this coming week.  I thought that EOY non platinum weeks were trash as far a resale.  Marriott can get a much better price as they can offer incentives that no one else can.  Imagine buying a EOY wk with first use in 2016.  It went through 2 days after the 2015.   I had converted 2014 to points and rented them through the site mentioned here.  I believe it is a great outcome for whoever bought my week.   They are getting better options by buying from Marriott. 

It is possible that this may be my last post here on TUG.  I have no skin in the game here but appreciate the information I learned over the past few years.   Adios.  LMF


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## sparty (Apr 11, 2014)

Saintsfanfl said:


> It depends on whether you want to be in the rental business. Renting isn't always trouble free. For good rentals you can usually also sell for many years worth of rental profit. I sold a couple through Marriott as the broker that netted me the equivalent of 5-10 years worth of potential rental profit. The net being my actual profit on what I paid vs what I netted on the sale. To me the pay me now was automatic. I don't know if rental demand will keep pace with the increase in fees.



Not to get overly fundamental here but in places where there is truly constrained supply (HHI for example is s a relatively small island!) then demand is inelastic and the price you can sell in the future should be higher than the price today.  I think it really depends on location and elasticity of supply at that particular location. Certainly Marriott could influence demand by tripling MF's in 1 year, but extreme events  like this have a low probability.  I'm long on the "upper end" of Marriott's MVC timeshare portfolio, platinum weeks, best views, best locations.


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## Saintsfanfl (Apr 11, 2014)

sparty said:


> Not to get overly fundamental here but in places where there is truly constrained supply (HHI for example is s a relatively small island!) then demand is inelastic and the price you can sell in the future should be higher than the price today.  I think it really depends on location and elasticity of supply at that particular location. Certainly Marriott could influence demand by tripling MF's in 1 year, but extreme events  like this have a low probability.  I'm long on the "upper end" of Marriott's MVC timeshare portfolio, platinum weeks, best views, best locations.



A very low probability. Marriott cannot triple maintenance fees in one year. Unless Marriott has full voting control, they are a hired hand. If they do have voting control, then they still cannot force owners out by illegitimately increasing their fee. 

You and I on on the same page and I agree with your logic. That said, nobody knows the future and rentals are still work. Cash now may be a better option for some people. But utility can be realized through rentals and usage which can be very valuable especially considering the trending economy.


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## Saintsfanfl (Apr 11, 2014)

dioxide45 said:


> In order of fasted way to sell to lowest. The channel to go through to sell.
> 
> EBay
> Marriott Buyback
> ...



I have not had extensive experience but I have sold Marriott's through buybacks and brokered resales. Marriott pays like a closing on a house, which is at settlement and prior to deed recording. I got my money at the same time on both the buyback and the brokered resale. I had two of each and in my experience both were the same. It's the same department doing the work. I have to put Marriott buyback as well as resale above ebay because ebay is just a sales channel and does absolutely zilch in aiding the process. It's like putting an ad in a newspaper. How long it takes depends on the closing company, the buyer, and the county. With Marriott you don't have to worry about anything.

If you are referring to the average time to make an initial on an average unit then I agree with the list.


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## BocaBoy (Apr 11, 2014)

dioxide45 said:


> Here are some lists, IMO only. This will vary some based on the demand for the unit you are selling.
> 
> In order of highest price to lowest. The channel to go through to sell.
> 
> ...



I agree with your list on the order of prices from highest to lowest.  I also agree with your list of what is fastest, except I don't know how anything could be faster than a Marriott buyback.  You just pick up the phone and if they want to buy it back they will send you the documents and it is done with no risk.


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## Smooth Air (Apr 12, 2014)

Thanks for all the informative replies! I think I will go w/ Marriott.

*LMF*: You have mail! 

Smooth Air


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## bogey21 (Apr 13, 2014)

Saintsfanfl said:


> They take 40% today. But it is still a fantastic deal provided the unit needed to sell doesn't have a low demand and a 5 year backlog. 60% of Marriott list is still far ahead of resale prices for most of the units.



Back when I had Marriott sell my Sabal Palms Week for me the commission was only 20% and the net proceeds were just about the cost of my Week.  Although it took over 3 years to sell, Marriott rented it for me each year I was in the queue with my "after commission" rental income always exceeding my Maintenance Fees.  Of course back then their commission for renting was also a lot lower than it is today.

Then when I had Marriott sell my Monarch Crown Suite they got me $41,000 (minus a 20% commission) for a Week I had bought resale for $25,000.

Although I am not keen on the "New" Marriott, I do believe that getting them to sell your Week for you is the best way to go.

George


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## fizzysoup (Apr 13, 2014)

Another option may be:- 

www.myresortnetwork.com


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## ronparise (Apr 13, 2014)

I have a Marriott week on ebay right now. The important thing to me is to get it sold quickly at the best price possible 

Given I want a quick sale I think EBay is the best way to go.  Ill report back after the auction ends with the numbers


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## Smooth Air (Apr 13, 2014)

How long have you had it on ebay?


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## kjd (Apr 13, 2014)

Here's a few impressions that I have from the sale of three Marriott weeks.

MGC 2br---buyback, fast and clean as has been stated.  Received 60% of sale price within two weeks.

MGV 2br EOY Plat---brokered sale by Marriott.  Got the distinct impression that Marriott will not list a unit unless they have buyers.  Tried to sell this six months ago and was refused, but placed on a wait list.  Once I moved up to a listing they sold it within ten days.  Had two buyers for it.

MGV 2br EOY Gold---brokered sale by Marriott.  Was told by Marriott about a year ago that they never listed EOYs, especially Gold.  Recently I saw several sales of the same unit and called to see if they were interested.  They were and it was sold within two days.

The conclusions that I drew from these sales are:

They don't accept all units for either buyback or brokered sales unless they are reasonably sure they can sell it.

They say you have to wait up to 120 days for your money after the closing of a brokered sale.

Don't take what they say as permanent policy.  You have to keep calling them back as the market changes.  They are interested in their profits not your reasons for selling.

The sale prices normally on E Bay are well below what you will receive from a Marriott sale or buyback.  If you bought direct you'll probably get 10 to 20% of your original purchase price.  Ouch!  If you got a lot of usage out of the unit you're still probably ahead.  Especially if you bought pre-construction and received a lot of MR points.

If you bought resale you might even make a profit when you sell.  I made about $300 on one of the sales.  The rest of it I have to consider all of the great usage my family has had over the years.  I still have units in the system and am looking forward to more great vacations.


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## ronparise (Apr 13, 2014)

Smooth Air said:


> How long have you had it on ebay?



It was a 7 day auction; ends today


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## ronparise (Apr 13, 2014)

kjd said:


> Here's a few impressions that I have from the sale of three Marriott weeks.
> 
> MGC 2br---buyback, fast and clean as has been stated.  Received 60% of sale price within two weeks.
> 
> ...



I wouldnt expect any more than 10% of what Marriott sold this stuff for. In fact I get 10% for a Platinum, that would make my day.   maybe  10% Gold but  Bronze or Tin or any of the other metals I think you will be doing well to just get rid of it.


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## bogey21 (Apr 13, 2014)

kjd said:


> They don't accept all units for either buyback or brokered sales unless they are reasonably sure they can sell it.
> 
> If you bought resale you might even make a profit when you sell.



My experience exactly even though it was many years ago.  They sold my Monarch Crown Suite even though I bought it resale and had it sold in less than 2 weeks.  I suspect there was a buyer already identified.  And yes, I made a nice profit on it.

George


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## LilMsFoodie (Apr 13, 2014)

We paid $5600 for our eoy gold FC Grande Vista unit.   Marriott sold each for 3050 with a net of $1840 each.  Zero effort on my part is worth their commission.  Also,   I would never get that price on Ebay.


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## GrayFal (Apr 13, 2014)

LilMsFoodie said:


> We paid $5600 for our eoy gold FC Grande Vista unit.   Marriott sold each for 3050 with a net of $1840 each.  Zero effort on my part is worth their commission.  Also,   I would never get that price on Ebay.




I agree on eBay you would never get that price. Plus this was easy!


Sent from my iPad using Tapatalk


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## pwrshift (Apr 13, 2014)

I can't believe you're selling OP...you were one of its biggest supporters...and another Canadian to boot!

Maybe you're buying BeachPlace instead? 

Hope all is OK with you and that you get the best possible price on it. Be sure to keep us posted on your progress.

Best wishes,

Brian



Smooth Air said:


> Thanks for all the informative replies! I think I will go w/ Marriott.
> 
> *LMF*: You have mail!
> 
> Smooth Air


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## Smooth Air (Apr 14, 2014)

Ha, ha, ha....yes , buying BP so I can stay up past 8 o'clock!!!
Still love Ocean Pointe but can't see going there much anymore.
Thanks for your good wishes, Brian. Will keep you posted.

Smooth Air


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## dioxide45 (Apr 14, 2014)

Saintsfanfl said:


> I have not had extensive experience but I have sold Marriott's through buybacks and brokered resales. Marriott pays like a closing on a house, which is at settlement and prior to deed recording. I got my money at the same time on both the buyback and the brokered resale. I had two of each and in my experience both were the same. It's the same department doing the work. I have to put Marriott buyback as well as resale above ebay because ebay is just a sales channel and does absolutely zilch in aiding the process. It's like putting an ad in a newspaper. How long it takes depends on the closing company, the buyer, and the county. With Marriott you don't have to worry about anything.
> 
> If you are referring to the average time to make an initial on an average unit then I agree with the list.





BocaBoy said:


> I agree with your list on the order of prices from highest to lowest.  I also agree with your list of what is fastest, except I don't know how anything could be faster than a Marriott buyback.  You just pick up the phone and if they want to buy it back they will send you the documents and it is done with no risk.



The only reason I listed EBay above Marriott Buyback is because if you have a motivated buyer, you can get a deal completed pretty quickly. Also Ebay slowness is usually caused by sellers that drag their feet or a PCC. Though as a seller that is motivated, getting the deed written up and signed is a pretty fast process. The only thing needed from the buyer is cash.

From what I have read here, Marriott can sometimes take a while to get all their ducks in a row and get the paperwork out to the seller.


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## Saintsfanfl (Apr 14, 2014)

dioxide45 said:


> From what I have read here, Marriott can sometimes take a while to get all their ducks in a row and get the paperwork out to the seller.



For that first step it might be true but once the paperwork is returned to Marriott they trigger an ACH the same day, provided electronic payment is chosen. You don't have to wait for the deed recording or the resort transfer in order to be paid. The process is actually very fast as far as payment is concerned.

This is how fast I got paid on two recent Marriott brokered sales.

Paid in 30 days from signed contract
2/18/14 - Buyer Signed Contract
3/08/14 - Closing Documents Mailed to Seller
3/20/14 - Electronic Payment Received

Paid in 35 days from signed contract
2/26/14 - Buyer Signed Contract
3/19/14 - Closing Documents Mailed to Seller
4/02/14 - Electronic Payment Received

It is true you will get paid quicker if you require an ebayer to prepay in advance directly to you but I think that is too much to ask. If a 3rd party escrow is used where resort transfer is required before payment is released then there is no way the payment can beat Marriott Resales. I'm not sure if a 3rd party escrow waits that long but from my experiences I wouldn't be comfortable buying from an unknown individual ebayer unless my payment is released to them post resort transfer. I obviously wouldn't care if it is near free but for any moderate amount of cash I wouldn't risk it and I wouldn't expect someone else to.


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## kjd (Apr 14, 2014)

Good advice.  Electronic payment is the way to go.  Had the same experience with my sales.


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## dioxide45 (Apr 14, 2014)

Saintsfanfl said:


> For that first step it might be true but once the paperwork is returned to Marriott they trigger an ACH the same day, provided electronic payment is chosen. You don't have to wait for the deed recording or the resort transfer in order to be paid. The process is actually very fast as far as payment is concerned.
> 
> This is how fast I got paid on two recent Marriott brokered sales.
> 
> ...



So it would seem that a Marriott buyback would eliminate much of the part up to where your timelines start? It seems though that for a Marriott brokered resale, your name could sit on a waiting list for a long time, possibly years. Though a buyback, if accepted would eliminate that wait.

My list was based on when you first put the unit up for sale and when you get your cash. I suppose that a Marriott buyback could be faster than EBay.


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## Saintsfanfl (Apr 15, 2014)

dioxide45 said:


> So it would seem that a Marriott buyback would eliminate much of the part up to where your timelines start? It seems though that for a Marriott brokered resale, your name could sit on a waiting list for a long time, possibly years. Though a buyback, if accepted would eliminate that wait.
> 
> My list was based on when you first put the unit up for sale and when you get your cash. I suppose that a Marriott buyback could be faster than EBay.



Correct, but there are units where there is no wait list. I was assuming no wait but I know that is unrealistic for most units.


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## BocaBoy (Apr 15, 2014)

Saintsfanfl said:


> Correct, but there are units where there is no wait list. I was assuming no wait but I know that is unrealistic for most units.



The wait lists were extremely long once the financial crisis hit, but many are now much smaller or nonexistent, partly because Marriott has been buying back so many weeks and they first go to the list for a brokered sale and see if you are interested in a  buyback.


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## BocaBoy (Apr 15, 2014)

kjd said:


> Here's a few impressions that I have from the sale of three Marriott weeks.
> 
> MGC 2br---buyback, fast and clean as has been stated.  Received 60% of sale price within two weeks.
> 
> MGV 2br EOY Plat---brokered sale by Marriott.  *Got the distinct impression that Marriott will not list a unit unless they have buyers. * Tried to sell this six months ago and was refused, but placed on a wait list.  Once I moved up to a listing they sold it within ten days.  Had two buyers for it.



They do routinely list weeks without a buyer, but they do limit the size of the wait list.  I waited two or three years after getting my Sabal Palms week officially listed (not wait listed) a few years ago (pre-DC) and I very slowly moved up the list for two or three years as they sold a few or people made other arrangements.  The list was about 25 active listings in total plus a wait list.  I had been on the wait list before for a year or so I think.  

Finally, they offered me a very attractive buyback when they started buying back weeks for DC.  Sabal Palms was a sold out resort with no ROFR so I got a good price--much higher than they would give today.  I was number 10 or 11 on the list at the time so I assume they offered buybacks to everyone ahead of me at essentially the same time.  I think the reason you got a buyer so soon was because their buybacks had essentially eliminated the wait list.


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## dioxide45 (Apr 15, 2014)

BocaBoy said:


> They do routinely list weeks without a buyer, but they do limit the size of the wait list.  I waited two or three years after getting my Sabal Palms week officially listed (not wait listed) a few years ago (pre-DC) and I very slowly moved up the list for two or three years as they sold a few or people made other arrangements.  The list was about 25 active listings in total plus a wait list.  I had been on the wait list before for a year or so I think.
> 
> Finally, they offered me a very attractive buyback when they started buying back weeks for DC.  Sabal Palms was a sold out resort with no ROFR so I got a good price--much higher than they would give today.  I was number 10 or 11 on the list at the time so I assume they offered buybacks to everyone ahead of me at essentially the same time.  I think the reason you got a buyer so soon was because their buybacks had essentially eliminated the wait list.



I think the distinction is that there is a waitlist and then there is also a list for weeks actually listed with Marriott Resales. The waitlist is just a list of people that have called in showing an interest to sell through Marriott Resales. It  could be a short list, an empty list or a list a mile long that takes two or three years to get through. Once you get to the top of the list, they contact you again to actually list your week. Not long after that where they have an actual buyer.


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## BocaBoy (Apr 15, 2014)

dioxide45 said:


> I think the distinction is that there is a waitlist and then there is also a list for weeks actually listed with Marriott Resales. The waitlist is just a list of people that have called in showing an interest to sell through Marriott Resales. It  could be a short list, an empty list or a list a mile long that takes two or three years to get through. Once you get to the top of the list, they contact you again to actually list your week. Not long after that where they have an actual buyer.


I think you are saying much the same thing as I am.  You go on the wait list if they have all the active listings they want (maybe 25-30).  As things drop off the active list they add replacements from the top of the wait list.  They keep the active list a manageable size because otherwise they would be doing a lot of listing paperwork that will never be used, because the listing agreements are for one year and then a new one needs to be entered. 

Active listings appear to be selling well again, but that was not the case for several years after the financial crisis.  I was on the active list for close to two years after getting off the wait list and only moved from #25 to about #10 or #11.  Then they offered a buyback.  I think there are three reasons things are again selling much more quickly today: (1) Marriott buybacks have shortened the lists a lot; (2) the economy is better; and (3) Marriott is no longer selling weeks, which means they are now able to offer the resale weeks at lower prices.  When they were selling developer weeks the resale prices were the same as their developer prices.  Now they are much lower.


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## Smooth Air (Apr 16, 2014)

I am the original poster here.

All of your replies have been extremely helpful. Thank you very much to each of you.

Now I have a follow up question. What would you consider to be a reasonable Offer from Marriott for each of my 2BR Platinum Oceanside(not Oceanfront) weeks: 10K? 9? 8? 7?

I will have to deduct withholding tax from the ultimate sale price b/c I reside in Canada & am therefore "non-resident" US. However, as I understand it, I can apply for a refund of that withholding amount after sale.

Looking forward to hearing from you.

Smooth Air


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## Saintsfanfl (Apr 16, 2014)

Smooth Air said:


> I am the original poster here.
> 
> All of your replies have been extremely helpful. Thank you very much to each of you.
> 
> ...



Forget the buyback price! Marriott is in need of your unit to resell as the broker. I am not sure of their list price because they are out of that inventory but the list on OF is $23,900. OS should be around $20k and your cut would be 60%. You could ask for the buyback price out of curiosity and for the database but the resale is what you want. It will definitely (probably) be higher and they likely have buyers standing by waiting.

It could also be that Marriott's buyback price has reached the same price as the brokered sale which would be fine. You should be looking at around $12k either way.


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## Smooth Air (Apr 16, 2014)

12k net after Marriott fee and 10% wh tax on sale price?i


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## Saintsfanfl (Apr 16, 2014)

Smooth Air said:


> 12k net after Marriott fee and 10% wh tax on sale price?i



I was estimating the approximate $12k net as the 60% of a $20K list. Any withholding will not be on the sale price. It will be based on your net proceeds from the sale, which would be 60% of the sale price. If your withholding is 10% then in my example your net payment would be $10,800 but you can possible get that 10% back.

Give resales a call at 866-389-1458 or go to https://www.marriottvacationclub.com/resales/sell-weeks.shtml. Tell them you would like a quote on a buyback as well as a brokered sale.


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## Smooth Air (Apr 16, 2014)

Ok. For some reason, I thought the 10% WH tax was on the Sale Price.


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## Saintsfanfl (Apr 16, 2014)

Smooth Air said:


> Ok. For some reason, I thought the 10% WH tax was on the Sale Price.



You might be right but it wouldn't be logical. The act states that it is 10% of the amount realized by the seller. This is generally defined as the sales price but it's impossible to realize the full amount when MVCI is taking out 40% for themselves. Furthermore, MVCI puts the amount after their closing fee or commission as the proceeds from the sale on a 1099-S. This is the document that goes to the IRS.

In either case, once you file a tax return you will only owe tax on the amount of your gain, if any. You will receive a refund for the difference.

You can also apply for a withholding certificate in advance, which can reduce or eliminate the amount of the withholding.

I am not a tax professional so I might be off base. I know with my 1099-S's from MVCI it showed the proceeds as being after their portion was deducted. I don't have any real experience regarding the Canadian 10% rule.


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## Bikeguy (Apr 17, 2014)

Duplicate.


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## Smooth Air (Apr 18, 2014)

Ok.....So I called Marriott . $7,800 per week: 2BR Platinum Oceanside  (not Oceanfront)
From that , I have to deduct $500 Admin Fee plus $780 which represents  the  10% withholding tax leaving a paltry $6,520 net  per week in my pocket. 

I need to re-consider my decision to sell Ocean Pointe at this time in this dismal market.

As suggested up thread, perhaps I shd rent out my weeks if I am unable to use them. The rental fees would recoup the Annual MF's. For example, if I lock off and rent each week as 2 separate reservations, with 2 separate confirmation numbers, for Studio and 1BR units, then the rental market during prime Platinum weeks such as Christmas/NewYears, Presidents Week, March Break would easily garner $800 for the Studio and $1500 for the 1BR. That is $2300. MF for 2014 was $1365 per week which includes Florida Club Fee. So, following the rental route, I would actually make $935 per week (less PayPal  or some such fee and lock off fee and any other ancillary costs to be borne by me as Owner). Did I get that right??? Seems too good to be true so I must have used faulty reasoning......have I???

So........Tuggers.....what do you think?

Looking forward to your comments & suggestions.

Oh! Happy Easter/Passover to those celebrating.

Smooth Air


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## Saintsfanfl (Apr 18, 2014)

Smooth Air said:


> Ok.....So I called Marriott . $7,800 per week: 2BR Platinum Oceanside  (not Oceanfront)
> From that , I have to deduct $500 Admin Fee plus $780 which represents  the  10% withholding tax leaving a paltry $6,520 net  per week in my pocket.
> 
> I need to re-consider my decision to sell Ocean Pointe at this time in this dismal market.
> ...



Did you ask about selling through them as the broker? The quote they gave you was for a buyback, not a brokered sale. They will do either and I know they are out of your week. They may want it for themselves so they may not just quote it unless you ask. It would be a higher price.

Renting is a great option but don't lock-off your unit. The full units are much easier to rent and generally command a higher rental price than splitting and deducting the $80 fee. You can always offer the option in your add but don't start out that way. Redweek is the one and only place for renting your unit. Platinum Ocean Pointe rentals are popular on redweek and rarely go unrented.


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## dioxide45 (Apr 18, 2014)

Smooth Air said:


> Ok.....So I called Marriott . $7,800 per week: 2BR Platinum Oceanside  (not Oceanfront)
> From that , I have to deduct $500 Admin Fee plus $780 which represents  the  10% withholding tax leaving a paltry $6,520 net  per week in my pocket.
> 
> I need to re-consider my decision to sell Ocean Pointe at this time in this dismal market.
> ...



If you could, please add your buyback details to the Developer Buyback database. The link is in my signature.


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## Smooth Air (Apr 18, 2014)

Di, do you mean to add the buyback info if I proceed and sell to Marriott or now?

Saints fan, thanks for the tips. 
The alternative route to buyback, takes such a long time.Could be years b/f my weeks make their way to the top. I suppose I can rent my weeks during that waiting period.

Smooth Air


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## Saintsfanfl (Apr 19, 2014)

Smooth Air said:


> Di, do you mean to add the buyback info if I proceed and sell to Marriott or now?
> 
> Saints fan, thanks for the tips.
> The alternative route to buyback, takes such a long time.Could be years b/f my weeks make their way to the top. I suppose I can rent my weeks during that waiting period.
> ...



Are you sure or are you guessing? A platinum OS is not listed as a resale option for a buyer. When this happens it means they are our of that particular unit. I know this from experience. I don't think there is a wait for your unit.


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## dioxide45 (Apr 19, 2014)

Smooth Air said:


> Di, do you mean to add the buyback info if I proceed and sell to Marriott or now?



You don't need to proceed with the buyback to add it to the database. The database is there to record buyback offers that Marriott has made to you. You don't actually have to sell to them to add the information to the database.

The purpose of the database is so people can see what Marriott has offered to others previously. I would say only about half of the records in the database were for units that were actually sold back to Marriott.


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## Smooth Air (Apr 19, 2014)

Ok, Di, I will add it. Just can' do it right now.

Saints,
As I understand it, I can do the buyback @ $7800 per week OR I can have Marriott list each of my weeks for sale @ a significantly higher price. However, under the second option,  my weeks would have to join the long queue of other listed weeks......over a hundred listings at the current time. While mine would eventually sell, it could potentially take years. 

Smooth Air


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## Saintsfanfl (Apr 19, 2014)

Again, who told you this?? When the resale department runs out of a specific unit, they remove it from the available weeks to buy. There are no Platinum OS units listed as available to buy. I had two Silver OF weeks on the list and I noticed that all of a sudden it was gone from the available units to buy. I inquired and within days both of my units were sold. 

The bottom line is I think you were either lied to or misled. I don't think there is over 100 of your unit type on the list. It is more than likely there is no list and your units would sell very quickly. 

You need to push the issue if you really want to sell. When I inquired I was told there was still a waiting list. When I pushed and asked why my unit was not listed to buy they said sorry and that they hadn't been given an updated list yet. Both were sold in days and for net amounts higher than the buyback on your Platinums.


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## Smooth Air (Apr 19, 2014)

Marriott told me. This leaves me feeling very uneasy  if the Marriott rep lied to me! So what do I do now? Call back and say "Hello, I would like to speak with somebody who won' t lie to me!!!"


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## dioxide45 (Apr 19, 2014)

Smooth Air said:


> Marriott told me. This leaves me feeling very uneasy  if the Marriott rep lied to me! So what do I do now? Call back and say "Hello, I would like to speak with somebody who won' t lie to me!!!"



I am PMing with another Tugger that was told that it could be years to sell their Platinum Ocean Pointe week through Marriott Resale Broker. I think they tell you this in hopes you will take them up on the much cheaper buyback offer where they can use the unit to fund the trust. As Saintsfanfl points out, the resale brokerage listing price was much higher and even with the 40% commission, the net amount was much better than a buyback.. 

Call back and if they tell you there is a waiting list, tell them you still want to be added. They will likely contact you shortly after with an offer for listing.


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## taffy19 (Apr 19, 2014)

I wonder how they run that department?  I filled out a request when we were in Maui.  We received a reply that they would contact us in 3 business days but never heard from them.  I finally called a number but that was the the regular sales department in FL and they had someone call back from the right department that week.


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## Smooth Air (Apr 23, 2014)

Hello,

I am the Original Poster here.

After a lot of pondering, I have decided not to sell my  Platinum Ocean Pointe weeks. ( Brian, you still there??? )

If I cannot use them, then I will rent each for $2200 or $2300. This more than covers the MF on each.

Thank you for giving me food for thought. I really appreciate the help provided by each and every one of you. Tuggers are fantastic!!!

Thanks again,
Smooth Air


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