Have one enrolled week + some Destination points should I give up week and do all points? [MERGED]

[Pamplemousse]

I see the value in renting points every once in a while when you run short.
But long term it would totally frustrate me not having control over either my bookings or the peace of mind of knowing I wasn't getting scammed. Plus the availability aspect.

Also for long term we are on a 3 to 4 yr plan to retirement and then we hope to be able to utilize our TS much more as right now this "work thing" gets in the way to be able to travel as much as we would like. We also travel a lot with our daughter and BF, so we always need a 2 bdrm which takes more points.

I am so confused as to what to do........ from here.

Why not just buy resale points if you think you will need more points each year and don’t like renting?

 

[Pamplemousse]

This link will take you to the ownership level info on MVCI-

Owners Login | Marriott Vacation Club

owners.marriottvacationclub.com

You can always just log in and type what you are looking for and it will come up. It’s all on the website, just sometime hard to find.

 

[rthib]

13 month less, 25% Discount on points for 30 days out, Bank at 4 months vs 6 month, 30% vs 25% rental discount , Special number- Access to Villas and some other stuff.
Select can book at 10 months.

 

[dioxide45]

Let’s say you are paying a 15 cent per point premium on your converted enrolled week points vs pure point MF’s. So for 2000 points that equates to a $300 premium. Let’s also say you need 2000 more points on the odd years so you rent them for again a 15 cent premium over MF… or another $300 premium over MF If you purchased them. It would take 33 years to break even on the $20K upfront costs they want you to pay for this deal. Run…and run fast.

Yeah, paying $20K to save $300 every use year isn't all that great of a move.

 

[Dean]

I see the value in renting points every once in a while when you run short.
But long term it would totally frustrate me not having control over either my bookings or the peace of mind of knowing I wasn't getting scammed. Plus the availability aspect.

Also for long term we are on a 3 to 4 yr plan to retirement and then we hope to be able to utilize our TS much more as right now this "work thing" gets in the way to be able to travel as much as we would like. We also travel a lot with our daughter and BF, so we always need a 2 bdrm which takes more points.

I am so confused as to what to do........ from here.

If you're unsure, don't do anything that commits you. As you absorb and get more information, your best choices will be more clear. You might consider giving us the number of points you own to go along with your HL week and specific vacation goals in the interim and in retirement. Considerations include how flexible you will/can be in retirement, your planning personality, unit size needed, where/when you want to travel and length of usual travel as well as budget both up front and yearly. I'm guessing you don't have much experience exchanging and if so, that may be the best place for you to investigate. I'm in a similar situation of nearing retirement in 2-4 years. I've structured my timeshare portfolio both for now and for then but more for retirement. Specific to Marriott that means I have weeks I get points, weeks I use and weeks I exchange with only a little overlap I only own 1000 points and wouldn't own those if I had it to do over. I find that using them in a complementary fashion gives me far more value than any one alone could. For example I often reserve Aruba for 11-12 nights on points, then exchange for a week during that time, then adjust my reservation to just the additional days needed on points. Or I own 9 Grande Ocean weeks (enrolled, never take points) and I book them concurrently AND several additional units for a family trip, we had 15 units total this past summer (9 owned, 1 exchange and 5 points).

 

[DanCali]

I see the value in renting points every once in a while when you run short.
But long term it would totally frustrate me not having control over either my bookings or the peace of mind of knowing I wasn't getting scammed. Plus the availability aspect.

There are several issues you raise here. First, you can always limit your rentals only to renters who are able to transfer points to your account (ones who cannot is only because those points have been previously rented or banked, but doesn't mean they are not trustworthy). And you can always protect yourself from scams by renting from "verified" renters, and asking the renter to show you a screenshot of their account with the points and their expiration date listed. I've been on both sides of transactions multiple times on vacationpointexchange and things have always been super smooth and quick. That doesn't say there isn't fraud on there - the site lists multiple instances of that, but I suspect it's a small fraction of all the transactions that happened there and common sense can protect you.

Why not just buy resale points if you think you will need more points each year and don’t like renting?

This is really a good point. If renting is not that appealing to you then you can buy 3000 destination points right now on Redweek for $6000. It will cost you an extra $9000 in fees to Marriott to get them to be part of the system. But that's still less than $20K (and you get to keep your gold week which you can use as a week or points).

Frankly, IMO the only reason (for an informed buyer) to buy points from Marriott is when the buyer also has post-2010 resale weeks that can also be enrolled in the points system as part of the transaction. Even then, if one already has access to the points system via other enrolled weeks the value is questionable, but at least you are getting in the transaction something you cannot otherwise get by buying resale.

 

[maryk]

How do I go about purchasing resale points?

Also what are the restrictions when booking if I have resale points + regular DC trust points?

Will resale points take me to the next club level if added to my current DC points?

Will resale points cause me to pay club dues for another membership?

thx

 

[maryk]

Is the difference in booking the 13 months vs. 10 months for less then 7+ nights that vital for popular places like Aruba or Hawaii?

 

[dioxide45]

Is the difference in booking the 13 months vs. 10 months for less then 7+ nights that vital for popular places like Aruba or Hawaii?

I am not sure the 13 month benefit matters all that much with points. Many people report lack of inventory at 13 months. I think the 13 month weeks booking benefit for multiple week owners is a bigger benefit than 13 month booking on the points side.

 

[Fasttr]

Is the difference in booking the 13 months vs. 10 months for less then 7+ nights that vital for popular places like Aruba or Hawaii?

It is much easier to find and book less than a full week at 13 or even 12 months vs waiting until 10 months, especially at popular locations in popular times of the year.

 

[maryk]

If you're unsure, don't do anything that commits you. As you absorb and get more information, your best choices will be more clear. You might consider giving us the number of points you own to go along with your HL week and specific vacation goals in the interim and in retirement. Considerations include how flexible you will/can be in retirement, your planning personality, unit size needed, where/when you want to travel and length of usual travel as well as budget both up front and yearly. I'm guessing you don't have much experience exchanging and if so, that may be the best place for you to investigate. I'm in a similar situation of nearing retirement in 2-4 years. I've structured my timeshare portfolio both for now and for then but more for retirement. Specific to Marriott that means I have weeks I get points, weeks I use and weeks I exchange with only a little overlap I only own 1000 points and wouldn't own those if I had it to do over. I find that using them in a complementary fashion gives me far more value than any one alone could. For example I often reserve Aruba for 11-12 nights on points, then exchange for a week during that time, then adjust my reservation to just the additional days needed on points. Or I own 9 Grande Ocean weeks (enrolled, never take points) and I book them concurrently AND several additional units for a family trip, we had 15 units total this past summer (9 owned, 1 exchange and 5 points).

Currently we own 4500 EY DC points + EOY week at Harbour Lights which equals to 1950 DC points

For future trips (now and in retirement)
We have pets so we can't go on vacation for more then a week maybe 2 at a time.
We also have a small family so it would only be Daughter + BF (maybe hubby someday) and possibly a couple grandkids
We like going all sorts of places but would go to the Caribbean often if we could
It doesn't bother me to make sure take my HL lights week and convert it to points EOY
And we also own Bluegreen points which allows us to travel a lot in the Southeast (where we live) for long weekend trips and trips to Orlando. We have a LOT of points in that program

Does this background help provide me some guidance for planning my future with TS with Marriott?

 

[jwalk03]

Resale points work exactly the same as developer bought points once you pay the $3/pt junk fees.

You will not have a separate membership and the points do count toward status.

You can buy them from the TUG marketplace, Redweek, eBay, etc.

 

[maryk]

What is the process in purchasing resale points? I understand there is something where Marriott has to approve the sale and they can refuse it (ROFR)?
Does the sale void if Marriott does not approve?

Also what are the fees I should expect over the actual price per point?

 

[jwalk03]

The junk fees are $3/pt.

If you are not an existing owner there is also an owner education few of a few hundred dollars, if you are an existing points owner this fee does not apply.

Marriott does have ROFR on all points purchases. If they exercise their right Marriott pays the seller and acquires the points and the buyer would get a refund. You can check rofr.net to see what price points are passing/failing. Usually I believe its around $3/pt.

 

[DanCali]

Currently we own 4500 EY DC points + EOY week at Harbour Lights which equals to 1950 DC points

For future trips (now and in retirement)
We have pets so we can't go on vacation for more then a week maybe 2 at a time.
We also have a small family so it would only be Daughter + BF (maybe hubby someday) and possibly a couple grandkids
We like going all sorts of places but would go to the Caribbean often if we could
It doesn't bother me to make sure take my HL lights week and convert it to points EOY
And we also own Bluegreen points which allows us to travel a lot in the Southeast (where we live) for long weekend trips and trips to Orlando. We have a LOT of points in that program

Does this background help provide me some guidance for planning my future with TS with Marriott?

for $20,000 you can buy:

a 2BR summer week in Aruba (~6000 on Redweek), AND
a 1BR fixed summer week at Westin St. John for ($2000 on Redweek) (resale Virgin Grand phase also gives you Staroptions you can use in Vistana to trade internally), AND
a 2BR Platinum week at Newport Coast Villas (~9,000 on Redweek), AND
a 2BR summer week at Frenchman's cove (~3000 on Redweek).

This will give you 4 extra weeks of vacation (in addition to what you already own) at places like it sounds you might enjoy. I assume at most of these places you can rent out what you don't use for at least the cost of maintenance fees, but that's an important thing to check because you'd have more maintenance fees obviously.

Or you can pay $20,000, trade in your EOY week and end up with 3000 EY points (in addition to what you have, but less the 1950 EOY "points"). Those 3000 points that cost $20K are maybe enough for a week at least at some of the above places I listed but not all...

Don't take this advice or the prices above literally (although I think the prices are a good estimate). The point I am making is that buying weeks (i) at places you might go to and (ii) in places where you can easily rent when you don't use can give you a much better bang for your buck. Both in terms of usage nights and in terms of cost (MF/night).

 

[maryk]

Does the buyer or the seller submit the info to Marriott?
How long does it typically take for Marriott to react to the request?

So since we are already a points owner, we pay whatever fee is offered for the points + the $3 per point for junk fees right?

And can we do these typically on a Credit card or do we need a money order or something other such?

 

[maryk]

I totally get your point. Well explained.

If I purchase a resale week though, I cannot trade it for DC points right? (it is use it, or rent it out)

And if renting out a week in any of these places at least 95% successful?

 

[TheTimeTraveler]

Does the buyer or the seller submit the info to Marriott?
How long does it typically take for Marriott to react to the request?

So since we are already a points owner, we pay whatever fee is offered for the points + the $3 per point for junk fees right?

And can we do these typically on a Credit card or do we need a money order or something other such?

Be sure to use a qualified closing agent to handle the entire transaction (including handling the monies). I suggest LT Transfers. www.LTTransfers.com

Marriott should respond to the ROFR process within 30 days. A good closing agent submits the information electronically, so it can be acted on very quickly if they aren't buried with a lot of other ROFR requests.

Unless you buy your points directly from Marriott then it is highly likely you will need to use a check for the transaction. Marriott will accept a Credit Card.



.

 

[jwalk03]

Be sure to use a qualified closing agent to handle the entire transaction (including handling the monies). I suggest LT Transfers. www.LTTransfers.com

Marriott should respond to the ROFR process within 30 days. A good closing agent submits the information electronically, so it can be acted on very quickly if they aren't buried with a lot of other ROFR requests.

Unless you buy your points directly from Marriott then it is highly likely you will need to use a check for the transaction. Marriott will accept a Credit Card.



.

Yes the accepted payment methods will vary depending on the closing company. I just bought 2 Marriott re-sale weeks. I was able to use a credit card for the initial $1000 deposit, but the balance had to be paid by certified check, money order, or Zelle. No credit cards were accepted.

 

[TheTimeTraveler]

If you purchase a resale week you can use it, rent it out, or trade it via Interval International.

The success of renting out your week depends on WHAT you are renting out, and the ACTUAL week that you rent out. For example, reserving Week 7 is extremely desirable in ski locations and beach locations. Week 7 in Boston's Custom House will have snow, ice, cold and won't be in a huge demand.

AND, if you run into a Covid situation, you'll eat that week for that year. It happened to a lot of owners in 2020.

Tread slowly, and give everything a lot of thought and consideration prior to jumping into anything.



.

 

[DanCali]

I totally get your point. Well explained.

If I purchase a resale week though, I cannot trade it for DC points right? (it is use it, or rent it out)

And if renting out a week in any of these places at least 95% successful?

You will not be able to trade for DC points unless you pay Marriott money in some form. They will likely give you the option to enroll resale weeks if you spend money to buy DC points from them. People here have taken them up on it but, as I mentioned in a previous post, that scenario gives you something you cannot get in any other way so it changes the calculation. Otherwise, an informed buyer would buy only resale points if they really wanted points.

I've been renting my unused weeks at Newport Coast and also Vistana weeks for several years. It takes some effort but I'd say that until covid came it's been at least 95% successful. In the end it comes down to price. All the weeks I listed would likely get snapped up for $800 on tug last minute rentals. But you can do a lot better if you plan and rent well in advance...

 

[maryk]

It says due to FL law I have 10 days to cancel. Does that include weekends?

If it does and I miss the 10 day period do I have any other recourse?

 

[WanderlustAbuela]

It says due to FL law I have 10 days to cancel. Does that include weekends?

If it does and I miss the 10 day period do I have any other recourse?

In Florida, if you buy a timeshare, you can cancel the timeshare contract up until midnight of the 10th calendar day following: the date you signed the contract, or. the day on which you received the last of all required documents, whichever occurs later.

 

[SueDonJ]

Hi MaryK!

I've merged all four of your threads related to this one transaction, to prevent duplicate threads/posts about the same topics.

 

[DanCali]

It says due to FL law I have 10 days to cancel. Does that include weekends?

If it does and I miss the 10 day period do I have any other recourse?

If you miss the 10 day deadline you will have no other practical recourse.

It's 10 days, not business days.