DIY Sale/Purchase of MVC week, how?

[sea&ski]

I have spent a bit of time searching forums, looking at ROFR tables and checking out the "For Sale" section here on TUG but have not (easily) found a discussion of buying and selling weeks between two private parties (who happen to be friends btw, and prefer to stay that way.) I want to know if a title agency would be involved (property is in California), the best way to determine a reasonable price considering there are not any fees being paid to secondaries (this is a biggie because I see some outrageous prices on listings but assume the agent is pocketing a good percentage), and the general steps for going about letting Marriott know that somebody different now owns a deed.

I would appreciate any input, or being pointed in the right forum direction. Thanks!

 

[Saintsfanfl]

Price is someone subjective and has variance. My general guide for that type of transaction is the best price on redweek for the same unit. No fees to 3rd parties doesn't really matter. The high listings you see are only listings, those listing NEVER sell. It is like listing a $100k house for $1,000,000. Nobody is ever going to buy it so the listing is meaningless.

Beyond price, you want to hire http://www.lttransfers.com/ hands down. They handle everyone start to finish including the contract and the notice to Marriott. They are also the lowest price in the business.

 

[sea&ski]

Thanks Saintsfanfl. I did look on RedWeek, seems there are a few floating platinums for the resort in question but I am not registered on RW, so can't access all the info. So by "best price", do you mean least expensive if you are the buyer, and most expensive if you are the seller? I am unsure how to determine what has sold successfully. I saw somewhere a suggestion to do a web search with the timeshare name and "sold" but this didn't net me anything. I would think the 3rd party fees would matter because you would accept that the seller is not going to get the total sales price, just a percentage.

I will certainly use lt transfers, I have seen many good words put in for them.

 

[TXTortoise]

For the OP, can you disclose if it's a Marriott and the details on the week?

My guess is you'll get a quick estimate of value range as we have folks on here that have a very good sense of the market for their particular niche/resort, e.g., the big resorts are easy, like Hawaii, HHI, some Orlando's and the good trader's that Dean's posts have listed.

You might also check ROFR.net
Bottomline: It's a commodity market, so lowest price wins for the same week.

Also, you can assume any week sold by a broker would be in the 15-20% range, with a minimum for low value units.

Something like this for selling with or without a broker, and move a decimal point and add minimum broker fee for low value weeks.

$50K listing example:
Broker Lists Everywhere for $50K and takes 20% (or 15% if no other broker involved)
Unit Sells for $40K (Broker may end up splitting commission with another broker)
Seller Nets $32K

Owner Lists for $50K on Redweek
Broker brings a buyer takes 15%
Unit Sells for $40K
Seller Nets $34K

Owner Lists for $50K
No broker involved
Unit Sells for $40K (or $35K for easy sale and both owner and seller benefit.)
Seller Nets $40K

 

[Saintsfanfl]

Thanks Saintsfanfl. I did look on RedWeek, seems there are a few floating platinums for the resort in question but I am not registered on RW, so can't access all the info. So by "best price", do you mean least expensive if you are the buyer, and most expensive if you are the seller? I am unsure how to determine what has sold successfully. I saw somewhere a suggestion to do a web search with the timeshare name and "sold" but this didn't net me anything. I would think the 3rd party fees would matter because you would accept that the seller is not going to get the total sales price, just a percentage.

I will certainly use lt transfers, I have seen many good words put in for them.

All you have to do is look at the lowest priced listings. If there is a decent sample those lowest prices are generally the actual amount that it will sell at. It is pointless to use an average. It is common to see a range on redweek of $5k-$30k for the same exact unit. The $5k is the price you want to use because that is the lowest price available to all and even that price hasn't sold yet. If you really want to sell you will undercut the lowest price and make it $4k.

Looking at recorded prices may also be a waste of time. It is not always the actual selling price. Some resellers pump up the price to pass rofr. Recorded prices may also be inflated due to inflated trade ins and actual units sold through marriott.

For some it is very difficult to accept the true value of a unit on the resale market.

 

[SueDonJ]

... The $5k is the price you want to use because that is the lowest price available to all and even that price hasn't sold yet. If you really want to sell you will undercut the lowest price and make it $4k. ...

For some it is very difficult to accept the true value of a unit on the resale market.

Can't help but notice the correlation here with sellers being advised to undercut each other from the get-go. Yet according to 95% of TUGgers, Marriott and the other developers are to blame for the "true value" of timeshares on the external resale market?

I don't expect this to be taken as anything but an offhand comment, but it's not often that we see the correlation so perfectly stated ...