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Marriott buyback

H

hooper

TUG Member
Joined
Jan 16, 2010
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Location
Philadelphia, PA
Just thought I would post this info. I have a Platinum 1 bedroom at Grande Chateau. I have been trying to sell it for 2 years or so on my own without any luck. So I called Marriott to see if they would buy it back and they offered me $2000 for the unit net of all costs on the spot.
 
hooper said:
Just thought I would post this info. I have a Platinum 1 bedroom at Grande Chateau. I have been trying to sell it for 2 years or so on my own without any luck. So I called Marriott to see if they would buy it back and they offered me $2000 for the unit net of all costs on the spot.
Click to expand...

The 2 BR's are selling between $1300 & $1700 on ebay. A 2 BR platinum went unsold for $1900.

A 1 BR platinum went unsold for $1:

http://www.ebay.com/itm/MARRIOTT-GR...30617312300?pt=Timeshares&hash=item1e6966042c

Another sold for $297:

http://www.ebay.com/itm/MARRIOTTs-G...60415421798?pt=Timeshares&hash=item53ea6ee566

If Marriott will give you $2000 for a 1 BR, take it.

The MF is ony $397 for the unsold-EOY????
 
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Who at Marriott did you call? I just spoke to their resale department about my Aruba Ocean Club week and they did not mention anything about buying weeks back themselves. I am on their wait list for them to sell it for me but I have been on that list for three years.
 
I called the Resale group. Maybe the offer is confined to the Grand Chateau?? He mentioned the wait list and them said they had some funds to make me an offer today.

Thank you for contacting our Resale Operations department. It is our pleasure to assist you with the repurchase of your ownership at Marriott’s Grande Chateau, described as VG*********. This email serves as confirmation that we have received your notice of acceptance of our offer dated today, December 22nd, 2011. We will initiate the repurchase process for the amount of $2,500 less $500 in administrative fees. At closing, your net proceeds are expected to be $2,000*. The first year occupancy to Marriott will be 2013.


The closing timeframe for your sale is anticipated to be 90 days. You may expect to receive settlement documents at your mailing address just prior to closing. If you have special delivery requirements, please notify us so that we can ensure that the settlement documents reach you in a timely manner. Please note that your failure to execute the settlement documents or return them to Marriott in a timely manner may result in the termination of the repurchase transaction.

If you choose not to continue with the repurchase, contact our office immediately at 1-866-682-4547 or resale.operations@vacationclub.com. Our office is open Monday-Friday, 9am-5pm, ET.
 
If Marriott is now in acquisition mode (whether through ROFR or buyback), that should serve to firm up prices on the resale market.

I am glad for the good deals I got this year on three resale purchases at Maui Ocean Club, Ko Olina, and Mountainside.

Still, I think higher resale prices would generally be a good thing. Dumping timeshares for $1 is a sign of a collapsing industry, and that can never be a good thing for stable maintenance fees and protecting the investment of existing owners.
 
Nice, I'm glad they were able to help you with an offer you found satisfactory. They sure seem to be all over the map with what they'll take back and what they'll ROFR, so it's very helpful when TUGgers post their experiences. Thanks!
 
Great timing. :whoopie: Glad it worked out for you. :D
 
Interesting. I would think if they were buying weeks back themselves that the resale person would have mentioned it as an option. I'll try giving them a call again next week to see if that is possible, or worth it.
 
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