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Is there still a resale department?

S

Saintsfanfl

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Brokered resale: "Commission: MVC's commission for its efforts to sell your ownership is 40% of the current sale price of $12,600."

Buyback/Repurchase:
"Contract sales price 7,550.00"
"Settlement charges to seller (line 14001 750.00)

This buyback I agreed upfront to a fee of $750. On the settlement statement it is then broken down for specific expenses. The actual charges only came to $593.48 to various 3rd parties and then they plugged in the difference as commission. So I guess there is 3rd party commission on it but it was only to get to the agreed net fee. Had the actual charges gone over they would have had to flip it the other direction. I believe that this one was $750 because it is in SC and all the Florida buybacks were $500.
 
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Saintsfanfl

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DobieG said:
Marriott already told me they wouldn’t pay me anything but would accept the deed. They didn’t discuss fees in that email. Based on that, if I were to find a buyer and then they wanted to exercise ROFR I would have to conclude they lack business ethics.
Click to expand...

Taking something back for free while maintaining an ROFR right is not unethical. It is just smart business. They have been unethical for other reasons.

One of the units I am deeding back is Lakeshore which has a 2025 fee of $2,775.80 and I just rented it for $2,100 but only $1,941.01 after my side of the Redweek fees for a whopping loss of ~$835. The deedback for nothing is a win. I bought it for day use but we moved further away and no longer use it. I use to make a few hundred renting it but then the developer subsidy ended. Then a $300 loss but we were still using it. Now this and no usage so I am really glad they have the deedback option.

There have been many times in the past that Marriott declined to offer me anything but then exercised ROFR when I found a buyer. Back then they had more activity on these more plentiful units. The reason for a no and then an exercise I think had to do with timing and their inventory. These days the brokered resales seem to be dead as they maybe aren't pushing hybrid purchases anymore.
 
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