responsibleexit.com
I got the call back. I am doing two deed backs.
Maui Ocean Club should still have significant resale value. Check Redweek prices and completed listings to get an idea. ROFR.net is also a decent guide. Worth far more than a few hundred bucks.
I had more but that’s so weird you say 19 because that’s what I have now. I bought Lakeshore for day use but we moved to Debary and pretty much don’t use it unless we are staying over night. Super high fees so a deed back is saving alot of money. A few years ago I rented for a $300 loss but much worse for 2025. Also doing a deed back on an MA that I’ve been using to exchange. I will be down to 17.
17. Mostly MGV Florida Club but also 4 at LE with one eoy. One eoy at WR. One MQ.You can also get the phone number and email from the ARDA Responsible Exit website. How many weeks will you be down to after these two are gone?
Marriott Vacation Club | Responsible Exit
When we completed a deed back last year on 2 St Kitts Beach Club weeks there was just a small cost to have the ownership documents notarised at the Consulate.
Maui resale prices are down since the fire and not expected to rise anytime soon. Limitations on short term rentals may help prices down the road, but right now every other year 1 BR Ocean View are on Red Week for +/-$3000. The broker I spoke with said they have a flat fee of $2500 plus title fees but we would recover 2025 fees paid to Marriott. Net proceeds est $600. Waiting for Marriott to quote me fees if we do a give back. $600 ain’t much but better than paying.
You could also ask Marriott about their resale program. It can sometimes take a while for a week to sell and they take a 50% commission, but their sales prices are much higher. I was just looking at ROFR.net and there is a post fire 1BR OV that failed ROFR at $7000. Why give it back if they are willing to pay someone else $7000? Perhaps the prices aren't that high now, but you also don't have to sell through a broker who will take $2500 from the sale.
Yes, they lack business ethics. For proof, look at their sales department.
They do this regularly. They are willing to take your week back and offer you nothing but ROFR.net shows they have exercised ROFR on weeks that sold for thousands of dollars. They have no qualms taking your week for free. Better than paying for it.
This is how ROFR works. They are not going to give you "top dollar" as a deed back. One might argue about the ethics but IMO, this action under ROFR is normal and reasonable business practice. Just like a car dealership will not make you a retail offer to purchase your used car.
I recall a time when MVC did have a real buyback program where they paid for the week. Probably somewhere between 2012 and 2014/15? The offers for weeks were decent but not as much as you could get selling through the resale program (after 40% commission), and still less than if you sold it on your own.
I remember when the commission for MVC to sell was 20% and not 40% and IIRC, the commission did not apply to buy backs at that time. And when MVC had a very active resale department, Resale Sally was great to work with.
Did the commission ever apply to buy backs? I don't seem to recall that it ever did. The buy back program was only a short run for a few years after they launched DC and seemed to need inventory for the trust.
I'm pretty certain it did for a time somewhere around the time when it changed from 20 to 40% but I'm not 100% certain.
That was before my MVC days...
My information/experience goes back to about 97 or 98. I have a fair amount of print information for HHI resales and resorts from around that time. Was the central check in for HHI still going then?
We didn't go to HHI for the first time until 2011. We checked in at our resort.
I'm not sure when it changed and not all resorts used the central check in which was located right next to Sea Pines Circle on Wm Hilton Pkwy. I think MVC still owns the building. IIRC HP/SP & Barony didn't use it but the rest did though I'm uncertain about MGO. Of course then there was Spicbush, Swallowtail and the Saturday Villas as well as the rest other than Surfwatch.