Latest Resale Guidance from MVCI

[DT05480]

Received this from the MVCIMV resale department this morning.

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These are the options you have to exit the program at this time.

Sell on the Open Market

This option affords you the opportunity to set your own price and to begin the resale process at any time. We recommend that you avoid companies that require upfront fees.

As stated in the governing documents for eligible resorts, Marriott Vacation Club has the Right of First Refusal. As such, owners selling on the open market are required to notify Marriott Vacation Club once a purchaser has been identified and a price agreed upon. Notification can be sent via email at MVCIROFR.MVCI@vacationclub.com or fax 407-903-5995. Be advised that when inventory is sold on the open market, the purchaser will not have the option to exchange the week for Marriott Rewards points or enroll in the new Marriott Vacation Club Destinations™ Exchange Program.

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, including the 2022 maintenance fee. The transfer of your ownership would commence in as soon as 120-150 days of your acceptance.

The first year occupancy to MVC would be 2022. Any outstanding maintenance fees, taxes or loans will need to be paid prior to ownership transfer.

The offer to deed back your ownership is valid for the next 7 business days and is subject to change at any time with or without notice.

Best regards,

 

[csalter2]

And... This is not news.

 

[stslc]

And... This is not news.

Why throw shade? May not be new news to a grizzly old vet but if a frustrated newish owner finds it helpful.......

 

[aka Julie]

Every potential buyer should read and understand what their options are if down the road they can no longer use or afford their purchase. Buyer beware.

 

[TheTimeTraveler]

I did not receive the email posted by the OP in Post #1.

With that said, I am wondering if they sent it to a select group of owners, such as those who are behind or late in their HOA fees? Any others receive this email?



.

 

[SueDonJ]

I did not receive the email posted by the OP in Post #1.

With that said, I am wondering if they sent it to a select group of owners, such as those who are behind or late in their HOA fees? Any others receive this email?

My guess is that the OP contacted Marriott Resales generating a response specific to what s/he owns.

In the recent past it was possible to actually get more for high-demand intervals from Marriott Resales than on the external resale market, but they don't appear to have many, if any, funds to work with lately. Whether that's temporary as a result of COVID impacts throughout the system or not remains to be seen, but I still would suggest that anybody who is thinking about getting rid of their Marriott Weeks contact that office first: MVC Exit Specialists Are Here To Help

 

[SueDonJ]

And... This is not news.

Of course it is. (Also, "be courteous.")

Every response from Marriott Resales is news because none of us ever has any idea what kind of value that office will place on our Weeks. Prior to COVID you didn't know if your Week would garner more/less/the same as what could be gotten on the external resale market, and some Weeks wouldn't be taken back by that office at all. Every data point helps those who might be in the same situation as the OP.

 

[SueDonJ]

Received this from the MVCIMV resale department this morning. ...

@DT05480, thanks for your post and welcome to TUG!

 

[DT05480]

As way of further info. I'm a long time owner >20 years. I was making a general inquiry to test the waters for two weeks we own @ Maui Ocean Club (Original Property, but still in high demand) and for the Boston Custom House week we purchased through Marriott Resale Department a few years ago. The response was the same for both properties. If I had to guess, the COVID recession saw a lot of property come back to them and until that gets disposed of they won't be offering property through the Resale Department anytime soon.

 

[Dean]

As way of further info. I'm a long time owner >20 years. I was making a general inquiry to test the waters for two weeks we own @ Maui Ocean Club (Original Property, but still in high demand) and for the Boston Custom House week we purchased through Marriott Resale Department a few years ago. The response was the same for both properties. If I had to guess, the COVID recession saw a lot of property come back to them and until that gets disposed of they won't be offering property through the Resale Department anytime soon.

You should be able to sell Maui and get something for it, possibly not for CH, esp if it's not Platinum. I'm not sure this is as much a Covid thing as just the nature of timeshare resales and Marriot's sales focus is on new sales with points, not the commission for weeks which then competes with their points sales.

 

[TXTortoise]

I wonder if the EOY aspect of the Maui weeks played into their response, or if was just a form letter.

MOC EOY weeks often seem to slip under the radar for what one would expect for ROFR, as if they weren't in as much demand for the trust. But ROFR is so inconsistent, who knows. It is notable that the other scenario of MVCI listing it as the broker was not mentioned.

According to a Hawaii broker I stay in touch with, weeks inventory is low so, depending on your view/BRs, selling it shouldn't be too hard. Mostly just a race to the bottom, with lowest price in a commodity going first, hopefully above ROFR for the buyer.

 

[andyl999]

Why on earth does it take "The transfer of your ownership would commence in as soon as 120-150 days of your acceptance."

MVC don't take that long to sign you up?

 

[TravelTime]

I did two deedbacks with MVC in 2020 and they paid me for my weeks. I got over $6000 for a Hyatt week in Key West and approx $2000 for a week at Princeville. I bought both weeks resale and they paid me approx what I paid.