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Current Enrolled Owner Questions RE: Purchasing Trust Points

ladyjadegd

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EDIT: I posted this under buying and selling first and am moving it here on advice of a member because it completely makes more sense!

I've already spent over an hour wading through posts and searching to look for this answer so if it has been asked and answered previously, my apologies. I own two weeks that are enrolled and a friend is no longer timesharing after her husband died and sold her Newport week and was offered $2000 by Marriott for her 1000 extra points. She's asked me if I would like to purchase them and I am actually interested in adding that to what I have, however, I CANNOT get a response from anyone at Marriott to ask questions and it's my understanding that there may be a transfer fee in the amount of $3 per point. As I am already enrolled, does that fee still hold, and are there other fees that would apply to me that I need to expect? I guess last question is since she already got an offer from Marriott, if I offer $2500 will they counter-offer that with a new higher price?

It is also my understanding that trust points MF currently are .604/point. Please correct me if I'm wrong.

Thanks so much for any help with this. I was sent the external transfer form, but no point moving forward if its going to cost a lot more than what I want to put down.

Jennifer
 

Fasttr

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Yes, MVC can still ROFR any offer you make, but if it’s $2500 and they exercise, it’s a win for your friend anyhow, right? As for you, the big fee is a $3 per point fee to MVC, in addition to what you pay for the points. Any other fees would be normal closing cost type fees. Your MF # is correct.
 

ladyjadegd

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Yes, MVC can still ROFR any offer you make, but if it’s $2500 and they exercise, it’s a win for your friend anyhow, right? As for you, the big fee is a $3 per point fee to MVC, in addition to what you pay for the points. Any other fees would be normal closing cost type fees. Your MF # is correct.

Thank you. SO my 2500 deal now becomes a 5500 deal. When I read about it, it was with multiple fees which mentioned if you are already enrolled weren't assessed, so I wasn't sure on this one. Appreciate the response!
 

rthib

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I am enrolled and bought resale points. You pay the junk fee ($750 per 250 points min $3000) but since you are enrolled you do not have to pay the $350 education fee. Once you pay the fee they become full points. There is also some other fees RoFr and Transfer fee.

just so you know, there a lots of listings for $1.80-$2.00 so I wouldn’t actually pay more than that. However what they send to Marriott for ROFR price is up to you and your friend. And nothing says that you have to be higher than Marriott offer.

Also, it is you money but unless it gets you to another benefit level, it might be cheaper to just rent points each year.
 

ladyjadegd

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I am enrolled and bought resale points. You pay the junk fee ($750 per 250 points min $3000) but since you are enrolled you do not have to pay the $350 education fee. Once you pay the fee they become full points. There is also some other fees RoFr and Transfer fee.

just so you know, there a lots of listings for $1.80-$2.00 so I wouldn’t actually pay more than that. However what they send to Marriott for ROFR price is up to you and your friend. And nothing says that you have to be higher than Marriott offer.

Also, it is you money but unless it gets you to another benefit level, it might be cheaper to just rent points each year.
Thank you! That’s helpful!
 

rthib

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You might offer your friend $5000 for her points (if they agree to pay your enrollment fee) Thus the ROFR number to Marriott is $5000 :)
 

ladyjadegd

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I’d at least submit a contract at $2/point. If Marriott takes it your friend benefits, if they don’t you are buying at the bottom of the market.

MVCI stopped ROFR in May and June, but seem to be ramping up again.
Yeah, I saw that about the ROFR. I think I’m just going to let Marriott buy it from her and wait til a better time for me. Thanks for info!
 
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