$5000 Education Fee on Resales?

[GreenTea]

It sounds absolutely insane, but two different FB members have been told at recent presentations that resale weeks will have a $5000 "Education Fee" for new buyers if they sell their weeks o the resale market.

 

[TheTimeTraveler]

It sounds absolutely insane, but two different FB members have been told at recent presentations that resale weeks will have a $5000 "Education Fee" for new buyers if they sell their weeks o the resale market.

Not true at all. Don't waste your time believing it.




.

 

[Passepartout]

It sounds absolutely insane, but two different FB members have been told at recent presentations that resale weeks will have a $5000 "Education Fee" for new buyers if they sell their weeks o the resale market.

To which one would look the salesweasel in the eye and ask, "Why would I buy something that I can't sell, because no one would pay $5 Grand over my asking price to use it?"

It's balderdash!

Jim

 

[presley]

It sounds absolutely insane, but two different FB members have been told at recent presentations that resale weeks will have a $5000 "Education Fee" for new buyers if they sell their weeks o the resale market.

That's really confusing. Resale weeks will have a $5k education fee for new buyers if they sell their weeks to the resale market. Whatever they exactly mean won't really surprise me, though. If they really want everything switched over to a points system, doing crazy things like this will help get there.

 

[AriMorgan]

The education fee is only for points in which $5000 would be for $2500 points for an already enrolled points member.

 

[GreenTea]

I know its never been the case before....but could they be changing to this? Seems impossible since there is a deed, but after two members reported it in different meetings in the last two days, it makes me wonder.

 

[tschwa2]

I think they are combining and confusing fee's. There is an education fee if you purchase resale points and don't already have trust points (they may also waive it if you have enrolled legacy weeks but I am not sure). That fee is only $300. The big fee for resale points is the initiation fee which they do not waive, it is a minimum of $3000 or more depending on the number of points being transferred resale. And this is all for trust points, not weeks.

$500/BI (i.e. 250 Points) with a minimum $3,000.00 Initiation Fee (increased as of 7/1/14 from $200/BI with a min $2,000) ;
$300 Owner Education Fee;
$95 ROFR Fee;
$25/BI Transfer Fee

 

[TUGBrian]

yep, sounds like a salesman was playing fast and loose with the actual fees charged.

so its "technically" possibly correct!

 

[NYFLTRAVELER]

I think they are combining and confusing fee's. There is an education fee if you purchase resale points and don't already have trust points (they may also waive it if you have enrolled legacy weeks but I am not sure). That fee is only $300. The big fee for resale points is the initiation fee which they do not waive, it is a minimum of $3000 or more depending on the number of points being transferred resale. And this is all for trust points, not weeks.

If you are already a DC points (resale) owner and paid the education and $250 per 250 Points junk fee, if you were to purchase additional DC points on the resale market would you be forced to pay these fees again?

 

[davidvel]

I know its never been the case before....but could they be changing to this? Seems impossible since there is a deed, but after two members reported it in different meetings in the last two days, it makes me wonder.

I hope so, I'll be a millionaire. But seriously, no, they cannot do this to deeded weeks (in CA at least).

 

[frank808]

If you are already a DC points (resale) owner and paid the education and $250 per 250 Points junk fee, if you were to purchase additional DC points on the resale market would you be forced to pay these fees again?

You would not have to pay the education fee of $300 currently. But the $500 per beneficial interest with $3000 minimum would apply to all resale point purchases. What a great bottom line profit for doing nothing. Makes me wonder why would you want to but direct when vac is killing you when you want to sell your points.

 

[taterhed]

So, dumbed down....

If you purchase DC points on the resale market......

The current ROFR is just under $5 a point
In addition to the cost of the points.... (at $5 per point) you must pay:

• $300 Owner Education Fee; (once)
• $95 ROFR Fee; (each purchase)
• $25/BI Transfer Fee (each purchase)

PLUS

Marriott directed 'Junk Fees' (I mean Initiation Fee)

• $500 per BI (250 pts) minimum of $3000 (i.e. 1500 points or waste $$$)

So:
1500 resale points (for new DC resale buyer) costs:

1500*$5 (~ROFR)
+ 1500*$2 (Initiation Fee)
+ 1500*.10c (Transfer fee)
+ $300 (Owner education fee)
+ $ 75 (ROFR fee)
= ======
$ 11,025 or... $7.35 per point (at $5 ROFR)


I'm sure I messed something up and that there are other fees depending on the locality, but that's pretty close I think. That's why I chose not to buy resale DC points. If the minimum $3k fee wasn't there, I'd try to buy 500 points and rent the rest...but the devil is in the details isn't it?

 

[SueDonJ]

I also think this is a case of people leaving a sales presentation confused. Weeks resales have never included an Education or Initiation Fee of any kind.

Whether the Initiation Fees for DC Points resales might be increased, again, this time to a $5000.00 minimum? Why not? Anything's possible after the last increase when it jumped from $200 to $500/BI.

 

[NYFLTRAVELER]

I am glad I got in when I did - when it was only $200 per 250 points. I would like to supplement my 3500 points but will stick to renting DC points if/when needed. Its not worth $11k for 1500 more points.