Marriott making it impossible to buy/sell resales

[titan7]

Very interesting topic, I go back and forth on this rent own thing. Little history on me have been going to Maui for 16 years, after a couple year at the Hyatt at $3000 per week we decided to head to the Marriott for a presentation and we knew friends with a Marriott TS and they loved it. Went to an owners reception at Maui Ocean Club, could find nobody who did not love their TS. We purchased an annual 1br OV for $30,000 in 2005, after I purchased I found TUG and researched resale, decided that I would change to EOY within our right of cancel period as I did not was to risk so much and figured if I wanted the even year I would purchase resale at $12-13k. I saw that resale units were selling for $12-$13k I bought @ $18k, and they gave me a free week in Maui, so the value to me was $3500 for the free week. So I figured I would be into this $14500 after the free week and then I could trade, etc. I figured if resale were selling $12-13k in 2005, and they were I would risk a couple grand as if I used it a couple time then sold for 12k I was golden. MF were $590 back then. Well, who could predict the financial crash in 2007-08 that lasted 3-4 years and gutted the TS resale market, not many, I saw our unit, well all units down a lot I actually tried to pick up the even year 1br OV at MOC twice in 2012 for $3000, both time Marriott bought it back.

So I go to Maui every year, most years, twice per year. I actually saw my exact unit on resale for $3500 and I believe it would pass FROR, but I am questioning the value. I have been renting from owners on the even year for the cost of the MF. What I have observed over past 15 years, MF went from $600 to current about $1100 per year or 1200-2200 per usage. Rents have gone from 1400 to about 2500 now. So, I am struggling with the purchase price + MF vs rental break even point. Okay I realize this is not an investment but what are your thoughts?

I only go during non-peak times mid-May and September.

Thanks

 

[MOXJO7282]

Very interesting topic, I go back and forth on this rent own thing. Little history on me have been going to Maui for 16 years, after a couple year at the Hyatt at $3000 per week we decided to head to the Marriott for a presentation and we knew friends with a Marriott TS and they loved it. Went to an owners reception at Maui Ocean Club, could find nobody who did not love their TS. We purchased an annual 1br OV for $30,000 in 2005, after I purchased I found TUG and researched resale, decided that I would change to EOY within our right of cancel period. I saw that resale units were selling for $12-$13k I bought $18k, and they gave me a free week in Maui, value to me $3500. So I figured I would be into this $14500 and then I could trade, etc. I figured if resale were selling $12-13k in 2005, and they were. I would risk a couple grand of and MF were $590. Also,, right, well who could predict the financial crash in 2007-08 that lasted 3-4 years and gutted the TS resale market, not many.

So I go to Maui every year, most years twice per year. I actually saw my exact unit on resale for $3500 and I believe it would pass FROR, but I am questioning the value. I have been renting from owners on the even year for the cost of the MF. What I have observed over past 15 years, MF went from $600 to current about $1100 per year or 1200-2200 per usage. Rents have gone from 1400 to about 2500 now. So, I am struggling with the purchase price + MF vs rental break even point. Okay I realize this is not an investment but what are your thoughts?

I only go during non-peak times mid-May and September.

Thanks

Yes for you it makes no sense to purchase given you like to go during what is considered low season and only need a 1bdrm. If you wanted to go during whale season and especially if you needed a 2BDRM then buying might make mores sense because the uplift above maintenance can be high depending on what and when you want to go.

 

[Shaun]

Very interesting topic, I go back and forth on this rent own thing. Little history on me have been going to Maui for 16 years, after a couple year at the Hyatt at $3000 per week we decided to head to the Marriott for a presentation and we knew friends with a Marriott TS and they loved it. Went to an owners reception at Maui Ocean Club, could find nobody who did not love their TS. We purchased an annual 1br OV for $30,000 in 2005, after I purchased I found TUG and researched resale, decided that I would change to EOY within our right of cancel period as I did not was to risk so much and figured if I wanted the even year I would purchase resale at $12-13k. I saw that resale units were selling for $12-$13k I bought @ $18k, and they gave me a free week in Maui, so the value to me was $3500 for the free week. So I figured I would be into this $14500 after the free week and then I could trade, etc. I figured if resale were selling $12-13k in 2005, and they were I would risk a couple grand as if I used it a couple time then sold for 12k I was golden. MF were $590 back then. Well, who could predict the financial crash in 2007-08 that lasted 3-4 years and gutted the TS resale market, not many, I saw our unit, well all units down a lot I actually tried to pick up the even year 1br OV at MOC twice in 2012 for $3000, both time Marriott bought it back.

So I go to Maui every year, most years, twice per year. I actually saw my exact unit on resale for $3500 and I believe it would pass FROR, but I am questioning the value. I have been renting from owners on the even year for the cost of the MF. What I have observed over past 15 years, MF went from $600 to current about $1100 per year or 1200-2200 per usage. Rents have gone from 1400 to about 2500 now. So, I am struggling with the purchase price + MF vs rental break even point. Okay I realize this is not an investment but what are your thoughts?

I only go during non-peak times mid-May and September.

Thanks

I'm new at this timeshare thing but I have put a ton of time into research here and on the redweek site that a lot of timeshare owners use to rent out their weeks. I just bought a 1 BR OV even year usage at the Marriott Maui and it passed ROFR last month for $3,150. I've seen on this site and on the redweek site, off season weeks rent for the maintenance dues or less so I would say that it makes much more sense for you to rent than buy if you are going off season. You can get off season for around the same price or less than the maintenance fee costs. This is what I see and suggest from doing my research. But, if you can pick up a deal like I did for $3,150 for a 1 BR OV EOY, it might just be worth purchasing but I don't know if there are any others selling for that low. Just curious, what did the 1 BR OV every even year sell for when you bought?

 

[Dean]

Very interesting topic, I go back and forth on this rent own thing. Little history on me have been going to Maui for 16 years, after a couple year at the Hyatt at $3000 per week we decided to head to the Marriott for a presentation and we knew friends with a Marriott TS and they loved it. Went to an owners reception at Maui Ocean Club, could find nobody who did not love their TS. We purchased an annual 1br OV for $30,000 in 2005, after I purchased I found TUG and researched resale, decided that I would change to EOY within our right of cancel period as I did not was to risk so much and figured if I wanted the even year I would purchase resale at $12-13k. I saw that resale units were selling for $12-$13k I bought @ $18k, and they gave me a free week in Maui, so the value to me was $3500 for the free week. So I figured I would be into this $14500 after the free week and then I could trade, etc. I figured if resale were selling $12-13k in 2005, and they were I would risk a couple grand as if I used it a couple time then sold for 12k I was golden. MF were $590 back then. Well, who could predict the financial crash in 2007-08 that lasted 3-4 years and gutted the TS resale market, not many, I saw our unit, well all units down a lot I actually tried to pick up the even year 1br OV at MOC twice in 2012 for $3000, both time Marriott bought it back.

So I go to Maui every year, most years, twice per year. I actually saw my exact unit on resale for $3500 and I believe it would pass FROR, but I am questioning the value. I have been renting from owners on the even year for the cost of the MF. What I have observed over past 15 years, MF went from $600 to current about $1100 per year or 1200-2200 per usage. Rents have gone from 1400 to about 2500 now. So, I am struggling with the purchase price + MF vs rental break even point. Okay I realize this is not an investment but what are your thoughts?

I only go during non-peak times mid-May and September.

Thanks

It sounds reasonable to keep on your same path. A week to avoid renting would give you more control and more guarantees but would also come with more hassle, risk and limitations. Personally I'd buy if I could get a good week the fit my exact needs in this situation. You'll have better unit assignments on average as well. Either approach sounds reasonable.

 

[csodjd]

I've looked. I have an EOY 2-BR OF at Napili/Lahina towers. Was thinking of buying the other year. But then I thought about the bigger picture. About $20k to buy the other year. So I'd pay $20k for an EOY. That $20k in the bank/investments at 5% is $2000 every other year (I can buy bonds that pay way more than that!). So, that's an added hidden cost of buying. Add the MF fees, about $2500 and it means my cost for this second EOY is about $4500/use. With the 25% owners discount I can rent through Marriott.com for just about that, and that allows me to arrive/leave any days I want, stay 5, 7, 9 days. Fly on lower-cost airfare days. Etc. Or I can rent from an owner for about $5k and have the flexibility to choose not to go any given year. Didn't make sense economically.

 

[dioxide45]

I've looked. I have an EOY 2-BR OF at Napili/Lahina towers. Was thinking of buying the other year. But then I thought about the bigger picture. About $20k to buy the other year. So I'd pay $20k for an EOY. That $20k in the bank/investments at 5% is $2000 every other year (I can buy bonds that pay way more than that!). So, that's an added hidden cost of buying. Add the MF fees, about $2500 and it means my cost for this second EOY is about $4500/use. With the 25% owners discount I can rent through Marriott.com for just about that, and that allows me to arrive/leave any days I want, stay 5, 7, 9 days. Fly on lower-cost airfare days. Etc. Or I can rent from an owner for about $5k and have the flexibility to choose not to go any given year. Didn't make sense economically.

It is always important to take the opportunity cost in to consideration when laying down a lot of cash for a timeshare.

 

[titan7]

I'm new at this timeshare thing but I have put a ton of time into research here and on the redweek site that a lot of timeshare owners use to rent out their weeks. I just bought a 1 BR OV even year usage at the Marriott Maui and it passed ROFR last month for $3,150. I've seen on this site and on the redweek site, off season weeks rent for the maintenance dues or less so I would say that it makes much more sense for you to rent than buy if you are going off season. You can get off season for around the same price or less than the maintenance fee costs. This is what I see and suggest from doing my research. But, if you can pick up a deal like I did for $3,150 for a 1 BR OV EOY, it might just be worth purchasing but I don't know if there are any others selling for that low. Just curious, what did the 1 BR OV every even year sell for when you bought?

In 2005, the 1BR OV EOY sold for $18,200, resale units sold $12-13k. Wish I could have predicted the crash that never has recovered. I did the math one day, I think my approximate break even point would be when I am in my 70s, I am 52 now. Make me sick, but again I did not have a crystal ball to see the future. However we love going there, and the past is the the past. I have made much more back buying my house in Orange County in the late 90s before the boom, oh well. I will think on this a bit more.

 

[JIMinNC]

So I go to Maui every year, most years, twice per year. I actually saw my exact unit on resale for $3500 and I believe it would pass FROR, but I am questioning the value. I have been renting from owners on the even year for the cost of the MF. What I have observed over past 15 years, MF went from $600 to current about $1100 per year or 1200-2200 per usage. Rents have gone from 1400 to about 2500 now. So, I am struggling with the purchase price + MF vs rental break even point. Okay I realize this is not an investment but what are your thoughts?

I only go during non-peak times mid-May and September.

In 2005, the 1BR OV EOY sold for $18,200, resale units sold $12-13k. Wish I could have predicted the crash that never has recovered. I did the math one day, I think my approximate break even point would be when I am in my 70s, I am 52 now. Make me sick, but again I did not have a crystal ball to see the future. However we love going there, and the past is the the past. I have made much more back buying my house in Orange County in the late 90s before the boom, oh well. I will think on this a bit more.

Just a couple of thoughts...based on your numbers above (mf $600 up to $1100/yr and rents from $1400 to $2500), your maintenance fees have increased at a compound growth rate of just a little over 4.1% per year. The growth in rent is just a tad under 4% per year (3.94% to be exact), so that's pretty comparable. Both of those numbers are not far off numbers I've seen for long term growth in hotel room and other lodging costs. So really not much difference there to factor in to the rent vs buy decision.

I've always looked at the ownership decision as more than just a pure rent vs. buy break even, but the rent vs. buy analysis always looks better for us than it will for you. While you are fine renting from owners, we never do that; so if we rent, it's going to be from a site like marriott.com, hilton.com, or in the case of a condo, from a realtor/leasing company that manages short-term rentals for owners. Most of these options offer more liberal cancellation/change provisions than rental-by-owner options and don't require up-front payment. (I also prefer to have a large company with additional inventory to stand behind the reservation, as opposed to an individual owner who may only have the one reservation to rent. If something goes wrong (or in the unlikely event the owner is a scam), we would have fewer avenues of recourse than when renting from a big company.) But if I'm going to pay up front, as we do with maintenance fees, I want the flexibility ownership usually offers to cancel, change, etc. That's one thing I really like about points vs pure week ownership - the flexibility to cancel a reservation and redeploy those points for other uses. With our unenrolled weeks, we can still cancel, but we would then likely have to deposit the week into II, which we try to avoid if at all possible. We take that chance with our two unenrolled post-2010 resale weeks, but that's one reason we hope to one day find a way to get them enrolled that makes economic sense for us - it greatly reduces the situations where we would wind up losing value in a cancellation/change situation. As we get older, those situations do increase the risk somewhat of non-changeable reservations.

Clearly, for someone like you who only travels off-season and is fine renting from owners, the rent vs. buy decision is different than it is for us. Just don't neglect to look at some of the non-financial benefits ownership might offer you.

 

[vacationtime1]

In 2005, the 1BR OV EOY sold for $18,200, resale units sold $12-13k. Wish I could have predicted the crash that never has recovered. I did the math one day, I think my approximate break even point would be when I am in my 70s, I am 52 now. Make me sick, but again I did not have a crystal ball to see the future. However we love going there, and the past is the the past. I have made much more back buying my house in Orange County in the late 90s before the boom, oh well. I will think on this a bit more.

The rule of thumb in 2005 was that prime Marriott resales cost about 60% of Marriott was then charging. I got killed on the Waiohai purchase I made at about the same time. At least prime Marriott weeks retained some value; many TS's did not.

Don't "think on this a bit more"; it is not productive. Instead, focus on the great vacations you are now having on Maui.

 

[Shaun]

In 2005, the 1BR OV EOY sold for $18,200, resale units sold $12-13k. Wish I could have predicted the crash that never has recovered. I did the math one day, I think my approximate break even point would be when I am in my 70s, I am 52 now. Make me sick, but again I did not have a crystal ball to see the future. However we love going there, and the past is the the past. I have made much more back buying my house in Orange County in the late 90s before the boom, oh well. I will think on this a bit more.

Ya, it’s hard to predict the future but I’m sure the memories that you have from those vacations are priceless. I kind of wish that I would’ve bought quite a while ago (even buying a timeshare at a higher price than today’s prices like you did) and built more vacation memories but hey, you’ve got to start sometime and it might as well be now for me. I did own a vacation home in the eastern part of our state and we did take vacations there with the family but there’s nothing quite like Maui. Good luck in your decision!

 

[TXTortoise]

I know I posted this somewhere else, maybe in the FAQ, but this is a pretty good baseline. As usual consider relative inflation.
(Source: Closing docs from one of the week I bought)

2010
UNIT TYPE SALES PRICE
MAUI, LANAI AND MOLOKAI WINGS
TBOF Week 52 $76,000
TBOF Week 51 $72,000
TBOF Platinum $63,900
TBOV Week 52 $70,000
TBOV Week 51 $65,500
TB OV Platinum $57,100
TBMGV Week 52 $51,500
TBMGV Week 51 $50,500
TBMGV Platinum $46,400
OBOF Week 52 $48,500
OBOF Week 51 $46,500
OBOF Platinum $39,600
OBOV Week 52 $43,200
OBOV Week 51 $41,000
OBOV Platinum $36,800
OBGV Week 52 $32,000
OBGV Week 51 $31,000
OBGV Platinum $30,400
OBIV Week 52 $25,900
OB1V Week 51 $24,500
OBIV Platinum $24,600

LAHAINA TOWER
Two Bedroom MGV Units $55,000
Two Bedroom MGV Units (Fixed) $58,000 - $67,000
Two Bedroom OV Units $65,500
Two Bedroom OV Units (Fixed) $70,600 - $80,700
Two Bedroom OF Units $74,000
Two Bedroom OF Units (Float-Fixed) $97,500- $131,800
Two Bedroom OF Units (Fixed) $50,000 -$116,000
Three Bedroom OF Units $66,350 - $160,600

NAPILI TOWER
Two Bedroom IV Units $46,900
Two Bedroom IV Units (Fixed) $55,000 - $60,500
Two Bedroom OF Units $74,000
Two Bedroom OF Units (Float-Fixed) $112,800 - $132,800
Two Bedroom OF Units (Fixed) $63,700 - $122,500
Three Bedroom Units $53,000 - $163,500

 

[Shaun]

I know I posted this somewhere else, maybe in the FAQ, but this is a pretty good baseline. As usual consider relative inflation.
(Source: Closing docs from one of the week I bought)

2010
UNIT TYPE SALES PRICE
MAUI, LANAI AND MOLOKAI WINGS
TBOF Week 52 $76,000
TBOF Week 51 $72,000
TBOF Platinum $63,900
TBOV Week 52 $70,000
TBOV Week 51 $65,500
TB OV Platinum $57,100
TBMGV Week 52 $51,500
TBMGV Week 51 $50,500
TBMGV Platinum $46,400
OBOF Week 52 $48,500
OBOF Week 51 $46,500
OBOF Platinum $39,600
OBOV Week 52 $43,200
OBOV Week 51 $41,000
OBOV Platinum $36,800
OBGV Week 52 $32,000
OBGV Week 51 $31,000
OBGV Platinum $30,400
OBIV Week 52 $25,900
OB1V Week 51 $24,500
OBIV Platinum $24,600

LAHAINA TOWER
Two Bedroom MGV Units $55,000
Two Bedroom MGV Units (Fixed) $58,000 - $67,000
Two Bedroom OV Units $65,500
Two Bedroom OV Units (Fixed) $70,600 - $80,700
Two Bedroom OF Units $74,000
Two Bedroom OF Units (Float-Fixed) $97,500- $131,800
Two Bedroom OF Units (Fixed) $50,000 -$116,000
Three Bedroom OF Units $66,350 - $160,600

NAPILI TOWER
Two Bedroom IV Units $46,900
Two Bedroom IV Units (Fixed) $55,000 - $60,500
Two Bedroom OF Units $74,000
Two Bedroom OF Units (Float-Fixed) $112,800 - $132,800
Two Bedroom OF Units (Fixed) $63,700 - $122,500
Three Bedroom Units $53,000 - $163,500

Are these 2010 prices? Are they resort prices or resale prices? Thanks.

 

[TXTortoise]

Marriott retail pricing as of 2010.

 

[titan7]

Thanks all good points!

 

[CPNY]

Very interesting topic, I go back and forth on this rent own thing. Little history on me have been going to Maui for 16 years, after a couple year at the Hyatt at $3000 per week we decided to head to the Marriott for a presentation and we knew friends with a Marriott TS and they loved it. Went to an owners reception at Maui Ocean Club, could find nobody who did not love their TS. We purchased an annual 1br OV for $30,000 in 2005, after I purchased I found TUG and researched resale, decided that I would change to EOY within our right of cancel period as I did not was to risk so much and figured if I wanted the even year I would purchase resale at $12-13k. I saw that resale units were selling for $12-$13k I bought @ $18k, and they gave me a free week in Maui, so the value to me was $3500 for the free week. So I figured I would be into this $14500 after the free week and then I could trade, etc. I figured if resale were selling $12-13k in 2005, and they were I would risk a couple grand as if I used it a couple time then sold for 12k I was golden. MF were $590 back then. Well, who could predict the financial crash in 2007-08 that lasted 3-4 years and gutted the TS resale market, not many, I saw our unit, well all units down a lot I actually tried to pick up the even year 1br OV at MOC twice in 2012 for $3000, both time Marriott bought it back.

So I go to Maui every year, most years, twice per year. I actually saw my exact unit on resale for $3500 and I believe it would pass FROR, but I am questioning the value. I have been renting from owners on the even year for the cost of the MF. What I have observed over past 15 years, MF went from $600 to current about $1100 per year or 1200-2200 per usage. Rents have gone from 1400 to about 2500 now. So, I am struggling with the purchase price + MF vs rental break even point. Okay I realize this is not an investment but what are your thoughts?

I only go during non-peak times mid-May and September.

Thanks

I know you may like Marriott but have you looked into buying Vistana resort with staroptions? You can easily book the Westin resorts during the off-season and still get an oceanfront room. I purchased Sheraton Vistana Villages Key west or Bella in Orlando and it comes 95,700 staroptions allowing me to book a one bedroom oceanfront in Maui Westin two years in a row in April and then may this year. Maint fee is 1600. You can also book many other locations at 8 months prior to check in. The buy in is cheaper. Just a thought.

 

[jerseyfinn]

I've never seen in point of actual fact that Marriott bought back anything and I've talked with thousands of current/former owners on other sites. If you say they did, you'd be the first I've ever heard of in 25 years.

Make me the second person to attest that Marriott, on specific occasions does indeed straight off buy back weeks. So lets be clear to TUG folks who indeed struggle to find verifiable information about this increasingly difficult destination travel product.

Better question is to ask "which type of weeks?" Answer is that it remains possible that Marriott will indeed buy back weeks at high occupancy/high demand resorts when Marriott feels it can use more inventory to serve rising demand as the product grows out. Once again Marriott quietly left this door open years ago to legacy owners at the high demand high season resorts. We were put on a potential buy back list with no promise or guarantee whatsoever from Marriott that they would ever purchase your week. Time goes buy & suddenly, you get a call. Honestly speaking, it's a discounted offer, but such is the reality of timeshare.

 

[Quadmaniac]

Marriott just took my WR EOY odd via ROFR for $750

 

[Ralph Sir Edward]

Make me the second person to attest that Marriott, on specific occasions does indeed straight off buy back weeks. So lets be clear to TUG folks who indeed struggle to find verifiable information about this increasingly difficult destination travel product.

Better question is to ask "which type of weeks?" Answer is that it remains possible that Marriott will indeed buy back weeks at high occupancy/high demand resorts when Marriott feels it can use more inventory to serve rising demand as the product grows out. Once again Marriott quietly left this door open years ago to legacy owners at the high demand high season resorts. We were put on a potential buy back list with no promise or guarantee whatsoever from Marriott that they would ever purchase your week. Time goes buy & suddenly, you get a call. Honestly speaking, it's a discounted offer, but such is the reality of timeshare.

Me three. There was a period around 2014 when Marriott had a buy-back program. You told them what you had and they made an offer.

I sold back to Marriott a Royal Palms Red week and a Hurricane week (I forget the color, it was the cheapest). Total return was $3700 dollars for both of them (I then used the money to buy my first HGVC Bay Club week.)

That program is currently dormant, and has been for several years, but it did occur.. . . (Remember, all the Palms lack a ROFR. If Marriott wanted any. they had to buy them. . . .)

 

[csalter2]

Me three. There was a period around 2014 when Marriott had a buy-back program. You told them what you had and they made an offer.

I sold back to Marriott a Royal Palms Red week and a Hurricane week (I forget the color, it was the cheapest). Total return was $3700 dollars for both of them (I then used the money to buy my first HGVC Bay Club week.)

That program is currently dormant, and has been for several years, but it did occur.. . . (Remember, all the Palms lack a ROFR. If Marriott wanted any. they had to buy them. . . .)

The buyback program is not dormant. Marriott still exercises it particularly when they have specials. For example, when I got my resale Ocean Pointe week from Marriott, they brokered the deal from another owner. This was late last year. Sometimes it actually takes them a while depending on the property.

 

[klpca]

The buyback program is not dormant. Marriott still exercises it particularly when they have specials. For example, when I got my resale Ocean Pointe week from Marriott, they brokered the deal from another owner. This was late last year. Sometimes it actually takes them a while depending on the property.

They did both - brokered for other owners who were selling, and did outright buy backs from owners. All three of my sales were brokered by Marriott. At the time either they wouldn't buy my weeks (DSVII white weeks) or the offer was so low that I just hung on to them and waited to move up on the resale list. Eventually they sold.

 

[Ralph Sir Edward]

The buyback program is not dormant. Marriott still exercises it particularly when they have specials. For example, when I got my resale Ocean Pointe week from Marriott, they brokered the deal from another owner. This was late last year. Sometimes it actually takes them a while depending on the property.

I didn't mean a brokered transaction. A true, straight, buy-back by Marriott. There was a period when Marriott did them.

 

[Bucky]

This is the email I received from Marriott yesterday concerning the selling of my two units at MOW:

“Good day,

This email serves as a confirmation that we registered your interest in selling your ownership on our waitlist. All owners are registered in date order and are contacted once an offer to sell becomes available. While waiting to sell, continue using your ownership and maintain current account balances. Be aware that the sale of your timeshare is similar to a real estate transaction, it is subject to market demand and therefore, it is difficult to predict a timeframe to sell.

Here are additional options that may suit your needs.

Sell on the Open Market

If you choose this route we advice never to work with companies looking for money up front. The commission should be paid out of the proceeds at closing.

As stated in the governing documents for eligible resorts, Marriott Vacation Club has the Right of First Refusal. As such, owners selling on the open market are required to notify Marriott Vacation Club once a purchaser has been identified and a price agreed upon. Notification can be sent via email at MVCIROFR.MVCI@vacationclub.com or fax 407-903-5995. Be advised that when inventory is sold on the open market, the purchaser will not have the option to exchange the week for BONVOY points or enroll in the new Marriott Vacation Club DestinationsT Exchange Program.

Deed Back

As an alternative to continuing to pay maintenance fees year after year, we'd like to make you aware of the opportunity to relinquish or deed back your ownership. While this option will not result in any financial proceeds to you, it would be a guaranteed, quick way to exit the program and eliminate your ongoing annual maintenance fee commitment, including the 2020 maintenance fee. The transfer of your ownership would commence in as soon as 120-150 days of your acceptance.

The first year occupancy to MVC would be 2020. Any outstanding maintenance fees, taxes or loans will need to be paid prior to ownership transfer.

The offer to deed back your ownership is valid for the next 7 business days and is subject to change at any time with or without notice.

Regards,
Samantha Ramirez
Resale Manager, Resale Operations
Marriott Vacations Worldwide
6649 Westwood Blvd. Suite 500
Orlando, FL 32821
Toll Free: 866-682-4547
Direct: 407-641-1801
Fax: 407-903-5995
Email: Resale.operations@vacationclub.com
Hablamos Español: Reventas@vacationclub.com”

 

[dioxide45]

The buyback program is not dormant. Marriott still exercises it particularly when they have specials. For example, when I got my resale Ocean Pointe week from Marriott, they brokered the deal from another owner. This was late last year. Sometimes it actually takes them a while depending on the property.

THere are two very distinct programs. A buyback program and brokered resale. What you are referring to is brokered resale. The buyback program did pretty much go dormant several years ago. A while back, Marriott was pretty active with the buyback program offering buyers a certain amount for their week minus admin fees ($500 I think). You would call and they would make an offer. That pretty much stopped and then you would call and they would say they would take the week back for $0. The brokered resale is where you call, get put on a list and it could be weeks to months to years before you get called an offered a deal. Brokered resales usually made more to the seller in the end, but it took longer to get rid of the week than the buyback program.

 

[csalter2]

It seems to me that both are in play. There are reports here that Marriott is doing both of the programs that you mention.

 

[dioxide45]

It seems to me that both are in play. There are reports here that Marriott is doing both of the programs that you mention.

Yes, it does seem that they have picked back up on the buyback program lately.