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Giving away Marriott Timeshares ~ Advice Please

Beje

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I'm sure this has been posted somewhere on TUG, but this whole Marriott system has me very confused! I am trying to help a friend dispose of her Marriott timeshares at the Kauai Beach Club in Hawaii and Harbour Lake in Orlando. She and her husband purchased these several years ago. Her husband has passed away and she can no longer afford the maintenance fees. Her husband took care of all the paperwork involved in these timeshares. She is totally lost and didn't know how to even start the process of getting rid of them. I offered to help as we have bought and sold several timeshares, but none in the Marriott system. Holy Buckets!! She came over with a file box full of paperwork that I really cannot make heads nor tails of. Marriott certainly does not make their paperwork easy to follow. I think I've gotten the basics on the units. I cannot find a "title" per se like I'm used to having, just the initial contract. I've gone through some of the threads on TUG. I understand that she needs to call Marriott Resale and give them first right of refusal. If they are not interested she wants me to post them on TUG as a give away. And this is where I get confused with Marriott. It seems to transfer them to a new owner SHE would need to get a title transfer company involved? Do I just post them on the TUG board and when someone shows interest THEN we get hold of a title transfer company and let them do the rest of the work? Is anything else needed from Marriott at that point? ANY help I can get would be deeply appreciated as my friend is at her wits end and I've sold timeshares we owned in Mexico that are easier to deal with than Marriott seems to be! Thanking anyone in advance.
 

JMSH

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I had contacted Marriott about them buying my property....was just a shot in the dark but apparently they have sufficient inventory; however, they did offer the following;

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, beginning with the 2019 maintenance fee. You will be responsible for 2018 maintenance fee. The transfer of your ownership would commence in as soon as 120-150 days of your acceptance.
 

1st Class

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First, welcome to TUG and thank you for trying to help your friend!

These resorts have some value so it could be worth the time to sell rather than give away. Marriott resales will net her more than selling elsewhere, but there are other options. There are many resale agents recommended here on TUG, Advantage Vacation Resales and Selling Timeshare.net are two that come to mind. She could also list it herself on REDWEEK and use one of the closing agents recommended on TUG. LT Transfers is highly recommended and will take care of ROFR. One very important caution -- do not pay an upfront fee to sell these weeks. Upfront fee companies rarely if ever sell anything. They promise the sun, the moon and the stars but do not deliver.

Does she own weeks or destination points? A call to MVCI @ 800-845-4226 will help you sort this out. She may also have somewhere in her paperwork login information to view her account online. If not the agent can help her set up and access an online account so you both can see what you are dealing with.

Find out what she owns and then come back with questions. Hope this helps you get started.
 

JIMinNC

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Unlike many of the timeshares you may have experience with, Marriott timeshares do generally have value and can generally be sold rather than given away. The Kauai Beach Club unit in particular could have value of between $3,000 and $10,000 or so if sold through a resale broker. It all depends on what exactly she owns.

Marriott Resale might also be willing to list the unit for sale and might get you the best price. But whatever you do, do not deedback to Marriott or give them away before exploring selling for cash.
 

Beje

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Thank you so far to everyone. Any other comments or suggestions would be appreciated. Thank you 1st class for the suggestion to call and set up a login account. I can't find anything in her paperwork to indicate that her husband did this. I believe these are weeks. In the paperwork for Orlando I found something in the contract that mentioned week 48. I can find nothing in the Kauai paperwork about an assigned week. So we'll find that out. Once we do that, do we need to contact Marriott for "first right of refusal" as I've seen mentioned on other threads? If so, we'll do that...then should I assume that we contact Marriott Resale to see what they say? If they have no interest (or it would take too long to get on a "list" as I've seen mentioned in the threads) then we go ahead with disposal? I understand that the Kauai unit may be worth some money, but she does not want to mess around with trying to sell them herself and possibly have to deal with them for several more months. At this point she just wants them gone and off her mind. I looked on the Advantage Vacation Resales website, anyone else have experience with them? Do they do pretty much all the work for you? Otherwise they'll go on the TUG marketplace as a giveaway which is very easy to navigate. My only question there is, when someone expresses interest, when do you get LT Transfers involved? And if worse comes to worse and there's no interest anywhere ~ thank you JMSH for the Deed Back comment. That will be a last resort, but it is an option just so she can be done with the maintenance fees. And, boy, is she gonna owe me a really good dinner for this!
 

SueDonJ

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As others have suggested these probably have value on the resale market. My first suggestion when re-selling is to contact Marriott and see what they'll offer. There are no guarantees that they'll accept what's being sold or that they'll offer today the same amount as what was offered earlier for a like interval, but in many cases they offer more than what's available on the external resale market. And no doubt going through Marriott Resales is a much easier process than the external resale market.

Not sure if this query option still works but if not, contact MVC Resales Operations at the number listed at that page, 866-682-4547. They generally respond within 48 hours and there's no commitment if you're not satisfied with their terms.

*******
Others have more experience with resales but I'm pretty sure that you don't have to worry about ROFR until/unless you're selling on the external market and have an offer in hand. Then it's a fairly simple process of filling out the form, submitting it, and waiting on Marriott to make their decision before going through with the closing.
 

davidvel

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You're on the right path, but understanably a bit scattered. A few questions which will help us help you:
Is her name on the contracts?
Are the contracts with Marriott (ie., did she buy direct?) If so, in the 3 last few years, they bought points.
Are there any loans, or did they pay cash?
Does she have any kids that may want them?
What does she own specifically? (Season, view.)

ROFR generally doesn't come into play until you have a buyer, so just ignore this issue for now. And don't worry about title, closing etc. yet.
 

SueDonJ

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I had contacted Marriott about them buying my property....was just a shot in the dark but apparently they have sufficient inventory; however, they did offer the following;

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, beginning with the 2019 maintenance fee. You will be responsible for 2018 maintenance fee. The transfer of your ownership would commence in as soon as 120-150 days of your acceptance.

This might be my first time seeing Deed Back as an option. Although I'm sure you would have preferred that Marriott would have offered a resale value, of course, it's interesting to me that "giving away" a timeshare may now be a Marriott-direct option. I'll be watching going forward to see how often these deed-backs might be in play.

Thanks, JMSH!
 

Saintsfanfl

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This might be my first time seeing Deed Back as an option. Although I'm sure you would have preferred that Marriott would have offered a resale value, of course, it's interesting to me that "giving away" a timeshare may now be a Marriott-direct option. I'll be watching going forward to see how often these deed-backs might be in play.

Thanks, JMSH!

I haven't heard of deed back either but their $1 purchase offers which are common are basically the same thing.
 

VacationForever

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When I first contacted Marriott resales to sell my DSV 1 weeks, the resales department said they were not moving and to put me on a queue but she did offer me the deedback option, terms spelled out, that it must be executed within 30 days of their offer.
 

JIMinNC

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As others have said, Right of First Refusal (ROFR) is a formal process that takes place AFTER you have an external buyer. A form must be submitted to Marriott letting them know the agreed upon price and terms, and then Marriott has a defined period of time (generally 15 to 30 days) in which to decide whether to match the offer. The ROFR process is generally handled by the transfer/closing company on your behalf. For example, lets say you get an offer of $7000 for her Kauai week. Before you can sell that week to the contracted buyer, the closing company is required to submit the transaction to Marriott who then has 15 to 30 days (each resort may be different) to match the offer. If they match the offer, then you are required to sell the unit to Marriott for $7000 instead of to the original buyer. If Marriott waives their ROFR, then the sale to the original buyer can proceed.

Here would be the steps I would take:

1.) Contact Marriott Resales first, and see if they will list the properties for sale. If they will list the unit(s), your friend would get 60% of whatever Marriott resales sells them for, and this will be the easiest since Marriott handles everything. They currently have 1BR Kauai Beach Club units listed for $10,000 to $11,000 and 2BR units listed for $14,000 to $19,000, so your friend's net proceeds on the Kauai week could be between $6,000 and $11,000 once it sells, if Marriott is willing to list them. They also have Harbor Lake listed for $5000 to $7000. Marriott used to offer to directly buy back units at 50% of these prices, but I'm not sure they are doing that any more. Once you list them with Marriott it will likely take from a few weeks to several months to sell, but the potential reward is much, much greater than just giving them away.

2.) If Marriott won't take the units to resell, then contact a reputable broker like Advantage Vacations (https://advantagevacation.com), Timeshare Resales Hawaii (http://timeshareresaleshawaii.com/), Selling Timeshares (http://www.sellingtimeshares.net), Judi Kozlowski (http://judikoz.com) and many others. Each of these companies will handle the process of listing the units for sale, and once a buyer is found, they have title transfer/closing companies they each work with that will handle the legal paperwork to get Marriott's ROFR, estoppels, and close the paperwork. Hawaii in particular has some special rules on taxes that must be followed exactly. These external brokers sell for lower prices than Marriott, but also generally take a smaller commission percentage. Selling though a broker will probably be much easier than trying to navigate the give away process yourself. Each of these companies will handle the entire sale from start to finish for you. All you need to do is provide them a copy of the deed for each week and they will do the rest.

Assuming your friend has already paid the 2018 maintenance fees, there is really no downside to listing and trying to sell rather than just giving them away or deeding back. There is a very good chance the Kauai units would sell well before 2019 fees are due. Not sure about Orlando. If you opt to deed back or give away, just be aware you are potentially turning your back on several thousand dollars of value, and managing the give-away process yourself could be more work and hassle than selling for cash through one of the brokers.

Again, Marriott timeshares have value and do not need to be given away like many other timeshares. In the end, it's your and your friend's choice, but why give something away that has real value if there are companies out there who will handle the process end-to-end? If they sell, your friend has several thousand dollars she wouldn't have had. If they don't sell, you can always still deed back or give away later in 2018 before 2019 fees become due.
 
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bogey21

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I think JiMinNC's comments are right on. Many years ago (when Marriott's commission was only 20%) I had success listing with (and selling) through them.

George
 

Beje

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Thank you, thank you all for the help. Each of you has given me (us) good information on what I need to find out and then start the process. At least I don't feel like I'm swimming around in the dark now. And JiMinNC thank you so much for completely bullet pointing it for me. I know where to start now and as long as I can help her get this done before the 2019 maintenance fees are due we will try the options to buy back or sell through one of the brokers you all have recommended. You are all stars!
 

classiclincoln

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We let Marriott sell our Kauai Beach Club early last year. I contacted their resale department and they found a buyer for our unit. We got a decent price and they take a 40% commission, which is hefty. However, it was worth it for us because we wanted to get rid of it and we didn't have to do anything.

We did the same with our Grande Vista in Orlando but since there were significantly less people who wanted to buy there, we ended up on the list. When you go on their list, you have to "renew" each year, which is simply letting them know you still want to sell.
 

Stefien Quix

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I'm sure this has been posted somewhere on TUG, but this whole Marriott system has me very confused! I am trying to help a friend dispose of her Marriott timeshares at the Kauai Beach Club in Hawaii and Harbour Lake in Orlando. She and her husband purchased these several years ago. Her husband has passed away and she can no longer afford the maintenance fees. Her husband took care of all the paperwork involved in these timeshares. She is totally lost and didn't know how to even start the process of getting rid of them. I offered to help as we have bought and sold several timeshares, but none in the Marriott system. Holy Buckets!! She came over with a file box full of paperwork that I really cannot make heads nor tails of. Marriott certainly does not make their paperwork easy to follow. I think I've gotten the basics on the units. I cannot find a "title" per se like I'm used to having, just the initial contract. I've gone through some of the threads on TUG. I understand that she needs to call Marriott Resale and give them first right of refusal. If they are not interested she wants me to post them on TUG as a give away. And this is where I get confused with Marriott. It seems to transfer them to a new owner SHE would need to get a title transfer company involved? Do I just post them on the TUG board and when someone shows interest THEN we get hold of a title transfer company and let them do the rest of the work? Is anything else needed from Marriott at that point? ANY help I can get would be deeply appreciated as my friend is at her wits end and I've sold timeshares we owned in Mexico that are easier to deal with than Marriott seems to be! Thanking anyone in advance.
This isn't exactly the reason you posted, but I'm curious what the maintenance fees are for the Harbour Lake property in particular. I might be interested in acquiring it from your friend.

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