Marriott Buyback? Newport Coast Villas

[dbsand123]

I am calling Marriott exit services tomorrow, to get information on buy-back or take-back. I've owned them for 20 years. Any guesses on what they'll say? Will I be paying to get rid of them? My properties (two) are at Newport Coast Villas in California.

Edit: Gold, week 1-22, MF $1927 paid in December

 

[TheTimeTraveler]

I am calling Marriott exit services tomorrow, to get information on buy-back or take-back. I've owned them for 20 years. Any guesses on what they'll say? Will I be paying to get rid of them? My properties (two) are at Newport Coast Villas in California.

Gold or Platinum?






.

 

[Pamplemousse]

I am calling Marriott exit services tomorrow, to get information on buy-back or take-back. I've owned them for 20 years. Any guesses on what they'll say? Will I be paying to get rid of them? My properties (two) are at Newport Coast Villas in California.

Have a look on redweek to see what they might sell for.

 

[dbsand123]

Gold or Platinum?

Gold.



.

 

[LeslieDet]

I am calling Marriott exit services tomorrow, to get information on buy-back or take-back. I've owned them for 20 years. Any guesses on what they'll say? Will I be paying to get rid of them? My properties (two) are at Newport Coast Villas in California.

You will most likely be offered a take back for zero compensation to you; the weeks have value, even if it's a gold season week. You can probably sell a gold week for between $3k-$4k on Redweek. If Platinum season, you may receive some cash value offer; but the best way to maximize any recovery is to sell yourself and then if MVC wants it, the week will be taken during the ROFR process. Of course, that process requires that you actually put the week up for sale and have a deal to present. Best of luck to you.

 

[dbsand123]

You will most likely be offered a take back for zero compensation to you; the weeks have value, even if it's a gold season week. You can probably sell a gold week for between $3k-$4k on Redweek. If Platinum season, you may receive some cash value offer; but the best way to maximize any recovery is to sell yourself and then if MVC wants it, the week will be taken during the ROFR process. Of course, that process requires that you actually put the week up for sale and have a deal to present. Best of luck to you.

Thanks! I assume Marriott will offer the information about ROFR and the requirements to resell, or can I see that somewhere already?

 

[TheTimeTraveler]

Thanks! I assume Marriott will offer the information about ROFR and the requirements to resell, or can I see that somewhere already?

Go to:


www.ROFR.net


and you can get a rough guesstimate as to what NCV Gold Weeks sell for these days and what will pass ROFR.

Welcome to TUG and best of luck with your sale.








..

 

[DanCali]

I am calling Marriott exit services tomorrow, to get information on buy-back or take-back. I've owned them for 20 years. Any guesses on what they'll say? Will I be paying to get rid of them? My properties (two) are at Newport Coast Villas in California.

Just pay $40 to list them on Redweek for $3000-$4000.

Typically the buyer pays for closings costs and therefore can choose an escrow company, so a semi-experienced buyer can help with the process like I did with a couple of first-time sellers I dealt with. The escrow company will provide a simple sales contract and guide you through the steps - most charge $350-$400 for the entire service, so it's really not a complex process. Contract goes to Marriott for Right of First Refusal, deed is prepared, buyer sends a cashier check, and you get paid when the deed is recorded with the county.

If you want to also talk to an escrow company, to get an idea how it works and in case the buyer lets you choose, there are plenty of recommendations on these boards too. I've worked with Timeshare Closings for Less several times - you can always talk to them or a couple of other reputable ones.

Just keep in mind that if you ever want to buy back into Marriott, any resale week you'd buy would not be enrolled in Abound (unlike what you own) and the points product, while flexible, is very pricy to buy and maintain.

 

[Born2Travel]

I always hate to hear of anyone deeding weeks back to Marriott. I feel weeks are the better value and it's better to sell them so the weeks remain available as weeks rather than letting Marriott add them to points inventory.

 

[bazzap]

I always hate to hear of anyone deeding weeks back to Marriott. I feel weeks are the better value and it's better to sell them so the weeks remain available as weeks rather than letting Marriott add them to points inventory.

That is very dependent though on actually being able to find a buyer, even when using TUG Marketplace and major Resale Brokers, which is not so easy in the current economic climate, for some resorts / seasons / unit types / view designations anyway.

 

[b2bailey]

That is very dependent though on actually being able to find a buyer, even when using TUG Marketplace and major Resale Brokers, which is not so easy in the current economic climate, for some resorts / seasons / unit types / view designations anyway.

Agree. Which is why I recently deeded back my Timber Lodge mud week.
When potential rental income is less than maintenance fee, there's no market to sell.
I tried selling on TUG last year for $1,000 with no luck.

 

[CalGalTraveler]

Instead of selling which could take some time and dealing with tire-kickers. If you want to get rid of it quickly, you can also give it away or sell for $1 on TUG Free Timeshares Thread and rehome it. Have the buyer pay transaction fees using a 3rd party service such as LT Transfers or TimeshareClosingsforLess who will work with Marriott and deal with the deed transfer, ROFR and paperwork. I am certain there are people who would readily want it. No more effort than deeding back to MVC with third party transfer. This also pays it forward by keeping deeds available in the market which is a much better value for owners than the trust.

 

[Norcal5]

I am calling Marriott exit services tomorrow, to get information on buy-back or take-back. I've owned them for 20 years. Any guesses on what they'll say? Will I be paying to get rid of them? My properties (two) are at Newport Coast Villas in California.

Sell them through Redweek. Their full service option does not require any work from you and is inexpensive.

 

[vacationtime1]

Instead of selling which could take some time and dealing with tire-kickers. If you want to get rid of it quickly, you can also give it away or sell for $1 on TUG Free Timeshares Thread and rehome it. Have the buyer pay transaction fees using a 3rd party service such as LT Transfers or TimeshareClosingsforLess who will work with Marriott and deal with the deed transfer, ROFR and paperwork. I am certain there are people who would readily want it. No more effort than deeding back to MVC with third party transfer. This also pays it forward by keeping deeds available in the market which is a much better value for owners than the trust.

I wouldn't do that. If you get a buyer for $1, Marriott will exercise ROFR, you will have jumped through a lot of hoops, and you will receive exactly $1 from Marriott for your trouble.

I would list them cheaply -- maybe $2,500 each -- so you will get a quick deal. If Marriott ROFR's it, you will get at least some money for your efforts.

 

[DRH90277]

Don't be discouraged, this is a good "Spring Break" gold week and is good in use or as a rental. I would rent this week out for $2,500+. Maintenance fees were $1,905 for this year.

Someone will buy it, list it on Redweek. The sales listing and process is very easy - you'll pocket some easy cash.

There are lots of people from Utah, Arizona, California who chase these rentals "and" might be better off to buy one.

 

[HudsHut]

Currently the asking price range for Gold Season at Newport Coast is between $2000 and $7500.

Marriott's Newport Coast Villas Timeshares For Sale | RedWeek

Buy a timeshare directly from Marriott's Newport Coast Villas owners, starting at just $1,998. Resales are almost always 30 - 50% cheaper than buying the same unit from the resort!

www.redweek.com

 

[dioxide45]

Instead of selling which could take some time and dealing with tire-kickers. If you want to get rid of it quickly, you can also give it away or sell for $1 on TUG Free Timeshares Thread and rehome it. Have the buyer pay transaction fees using a 3rd party service such as LT Transfers or TimeshareClosingsforLess who will work with Marriott and deal with the deed transfer, ROFR and paperwork. I am certain there are people who would readily want it. No more effort than deeding back to MVC with third party transfer. This also pays it forward by keeping deeds available in the market which is a much better value for owners than the trust.

Giving it away somes with some of the same perils as trying to sell.

 

[dbsand123]

My mother ended up calling Marriott today about this, and they explained they have a resale program themselves, where they will try to resell it for $14k, and give her half ($7k). If they can sell it. She seems interested in this, but I can't imagine who is buying at that price. And I'd want to know if I can list it elsewhere concurrently or if they want the exclusive listing.

 

[jwalk03]

My mother ended up calling Marriott today about this, and they explained they have a resale program themselves, where they will try to resell it for $14k, and give her half ($7k). If they can sell it. She seems interested in this, but I can't imagine who is buying at that price. And I'd want to know if I can list it elsewhere concurrently or if they want the exclusive listing.

People who buy hybrid bundles from the sales staff- and that is why they are able to sell at a higher price. It will take longer for them to sell, but if she is not in a rush it will yield the most money eventually.

 

[dioxide45]

My mother ended up calling Marriott today about this, and they explained they have a resale program themselves, where they will try to resell it for $14k, and give her half ($7k). If they can sell it. She seems interested in this, but I can't imagine who is buying at that price. And I'd want to know if I can list it elsewhere concurrently or if they want the exclusive listing.

If she has time and is willing to perhaps also have to pay 2025 maintenqnce fees if it takes a while to sell, then this is perhaps the better option. They don't require exclusive listings. If she sells it on her own she can just call and ask to be taken off the list.

 

[aka Julie]

My mother ended up calling Marriott today about this, and they explained they have a resale program themselves, where they will try to resell it for $14k, and give her half ($7k). If they can sell it. She seems interested in this, but I can't imagine who is buying at that price. And I'd want to know if I can list it elsewhere concurrently or if they want the exclusive listing.

I'd ask them how many listings they currently have ahead of her and how many gold weeks they sold in the last 12 months. Then make the decision to list with Marriott or try to sell on your own.

 

[DRH90277]

I'd ask them how many listings they currently have ahead of her and how many gold weeks they sold in the last 12 months. Then make the decision to list with Marriott or try to sell on your own.

My mother ended up calling Marriott today about this, and they explained they have a resale program themselves, where they will try to resell it for $14k, and give her half ($7k). If they can sell it. She seems interested in this, but I can't imagine who is buying at that price. And I'd want to know if I can list it elsewhere concurrently or if they want the exclusive listing.

This is crazy stuff coming from MVC. The Newport Gold season week is worth from about $4,000 to maybe $6,000 per Redweek listings (I cut out the out of bounds asks). Keep in mind that any enrollment in the points program disappears with the sale. MVC's sale at $14,000 makes no sense without enrollment and MVC is unlikely to let a seller benefit from the value of the enrollment.

 

[dioxide45]

This is crazy stuff coming from MVC. The Newport Gold season week is worth from about $4,000 to maybe $6,000 per Redweek listings (I cut out the out of bounds asks). Keep in mind that any enrollment in the points program disappears with the sale. MVC's sale at $14,000 makes no sense without enrollment and MVC is unlikely to let a seller benefit from the value of the enrollment.

As was mentioned b y @jwalk03 in post #19, these are used to sell bundle packages on the sales floor. They come as an enrolled week when the buyer also buys a required minimum number of trust points direct from MVC.

 

[dbsand123]

This is crazy stuff coming from MVC. The Newport Gold season week is worth from about $4,000 to maybe $6,000 per Redweek listings (I cut out the out of bounds asks). Keep in mind that any enrollment in the points program disappears with the sale. MVC's sale at $14,000 makes no sense without enrollment.I

It sounds crazy to me too, but maybe there are people who would want to buy directly from Marriott instead of from someone they don't know. If I think of my 80-year-old mother, I cannot imagine her knowing how to find a property or trusting someone on the Internet to sell to them. She would rather deal with Marriott directly, a reputable company they know and trust.

 

[CalGalTraveler]

If this is the case. I second trying Full Service Redweek. A real estate broker will handle the transaction and respond to buyers and make sure everything is legit. Not sure how MVC handles, But this is what many of the timeshare developers do anyway - they pass it off to brokers. She can save some money by reducing overhead.) It has a transaction fee up front but it can come out of the sales proceeds.

You could also go with a full-service broker but they will take more off the proceeds. I don't know who specializes in NCV.