Marriott BUYBACKS AND TAKEBACKS [2012 / Ongoing]

[Saintsfanfl]

I was offered $2,400 for my DSVII - white season annual unit, net $1,900. They made the same offer last year about this time. This was for a Marriott buyback. The resale listing price was $6,800 but I would be #84 on the list last time I checked. I have decided to hang on to it.

I don't know if I believe that there are 84 people on the list. While the annual and eoy are available to buy right now, you can see from my post on #401 that I had them broker an eoy white for me a few months ago and there was no list. Zero. They immediately sent me a listing agreement and then I had an actual buyer under contract a few weeks later.

I personally suspect that they may blow people off in the hopes that they will take the direct buyback offer. Not certain but I am suspicious of it. When I spoke to them I was pretty clear that I was only doing a brokered resale.

 

[klpca]

I don't know if I believe that there are 84 people on the list. While the annual and eoy are available to buy right now, You can see from my post on #401 that I had them broker an eoy white for me a few months ago and there was no list. Zero. They immediately sent me a listing agreement and then I had an actual buyer under contract a few weeks later.

I personally suspect that they may blow people off in the hopes that they will take the direct buyback offer. Not certain but I am suspicious of it. When I spoke to them I was pretty clear that I was only doing a brokered resale.

Interesting. For the extra $$ I would have a lot more interest.

 

[Saintsfanfl]

Interesting. For the extra $$ I would have a lot more interest.

If it's worth your effort I would get on the list and then watch the website for the white annual to be taken off. Just because it's on doesn't mean there is a wait list though. When I called about my EOY it was available to buy but no wait on the list. They keep a handful of listing agreements out there but I'm not sure of the number. When they send a listing agreement it is rarely a long wait for a buyer.

 

[wyannuzzi]

Called today and was given the following options on my Cypress Harbour gold:

1) Direct buyback for $1700.00

2) Marriott to list it at $5500.00. When sold I get 60%, $3300.00

Asked if that week is selling and was told they sold 14 in last 12 months and have 2 currently listed.

I passed for now.

 

[vacationhopeful]

Called today and was given the following options on my Cypress Harbour gold:

1) Direct buyback for $1700.00

2) Marriott to list it at $5500.00. When sold I get 60%, $3300.00

Asked if that week is selling and was told they sold 14 in last 12 months and have 2 currently listed.

I passed for now.

They SOLD 85+% in the last 12 months ... and with your listing, they would have 3 units for sale ...

If I wanted to get rid of it ... I would have listed mine.

 

[Saintsfanfl]

They SOLD 85+% in the last 12 months ... and with your listing, they would have 3 units for sale ...

If I wanted to get rid of it ... I would have listed mine.

They may have sold 100%. You don't know when the two currently listed jumped on board.

Asked if that week is selling and was told they sold 14 in last 12 months and have 2 currently listed.

I passed for now.

Did you have any interest in selling or you just wanted to know the value? You won't get that price anywhere and it would be sold in a couple months.

 

[wyannuzzi]

Did you have any interest in selling or you just wanted to know the value? You won't get that price anywhere and it would be sold in a couple months.

Just toying with the idea of dropping one of my timeshares and wanted to see what Marriott's options were.

 

[presley]

2 days ago I faxed in my info for Marriott to sell my timeshare. I got an email today that they believe they have a buyer. Hopefully, it works out. I don't want to go into details for fear of jinxing it, but I'll post later if the sale goes through. It was EOY Odd DSVII Platinum.

 

[Saintsfanfl]

2 days ago I faxed in my info for Marriott to sell my timeshare. I got an email today that they believe they have a buyer. Hopefully, it works out. I don't want to go into details for fear of jinxing it, but I'll post later if the sale goes through. It was EOY Odd DSVII Platinum.

If that buyer falls through they will have another right away. They move resale weeks like hotcakes. You have no worries.

 

[kjd]

I agree with that. I have sold four units either by Marriott buy-back or by a sales listing. It's been my experience that they won't list your unit unless they figure they can sell it soon. Twice I was on their wait list before they called to see if I would list the unit. Once they listed it I never went more than a month until I had a contract. In fact in all the sales, it took longer to close than it took to sell it after they listed it. One unit sold in two days.

It appears to me that their sales operations are better for owners after they became VAC and separate from the rest of Marriott Corp. They may not be building a lot of new resorts but they're buying a lot of their inventory from owners. VAC stock has been a good deal since the spin-off. Their business plan is working.

 

[yobo500]

I wish my experience was like all of yours. I have had a 2 bedroom Penthouse at Ko Olina wait listed to sell my unit for a few years and no action by Marriott at all. I called to see if there had been activity for sells and was told by the Rep. that no units had been sold in the last year.

 

[TheTimeTraveler]

I wish my experience was like all of yours. I have had a 2 bedroom Penthouse at Ko Olina wait listed to sell my unit for a few years and no action by Marriott at all. I called to see if there had been activity for sells and was told by the Rep. that no units had been sold in the last year.

The rule used to be that Marriott would not entertain taking a unit for resale unless the resort was nearly 100% sold out. To my knowledge, Ko Olina is not sold out, so I don't know why they wait listed your unit to begin with (unless they were waiting for the resort to sell out).

When I was there a few years ago they were still actively selling, and I think they were selling weeks to visitors from out of the country (i.e. Japan) and selling points to everyone else.

Maybe someone else can clarify, but don't the Ko Olina footprint plans still indicate room for one more building ?




.

 

[dioxide45]

The rule used to be that Marriott would not entertain taking a unit for resale unless the resort was nearly 100% sold out. To my knowledge, Ko Olina is not sold out, so I don't know why they wait listed your unit to begin with (unless they were waiting for the resort to sell out).

When I was there a few years ago they were still actively selling, and I think they were selling weeks to visitors from out of the country (i.e. Japan) and selling points to everyone else.

Maybe someone else can clarify, but don't the Ko Olina footprint plans still indicate room for one more building ?

With the DC trust though, every resort is now sold out. MVCI has conveyed all of the new units at Ko'Olina to the DC trust. Marriott is no longer selling weeks. I think the problem with Ko'Olina is that someone has to buy a sizable chunk of DC trust points in order to do a combo package. These combo packages would be more popular with smaller DC trust purchases. People are already doing it to save money. An EOY week would carry even fewer points since they half the amount when determining how many DC points you have to buy in conjunction with the resale week.

 

[downtownrb]

Has anyone tried to sell their unit to Marriott to buy it right back as a "backdoor" hybrid week?

Example:

I bought a Barony Beach Platinum Oceanside on Ebay for $10k last fall.

Marriott has that unit listed on their web site for $17k. Since I bought it resale, I cannot enroll it in the points.

If I have Marriott sell it for $17k, and they give me 60 % - that is $10.2k so I break even on my sale.

Granted I pay an extra $6800 and I can add in additional points. That week is "worth" 4500 points I believe. That would generate points at the $3.77 ($17k / 4500) level if I understand correctly.

 

[dioxide45]

Has anyone tried to sell their unit to Marriott to buy it right back as a "backdoor" hybrid week?

Example:

I bought a Barony Beach Platinum Oceanside on Ebay for $10k last fall.

Marriott has that unit listed on their web site for $17k. Since I bought it resale, I cannot enroll it in the points.

If I have Marriott sell it for $17k, and they give me 60 % - that is $10.2k so I break even on my sale.

Granted I pay an extra $6800 and I can add in additional points. That week is "worth" 4500 points I believe.

I suppose it is possible, but it would require a pretty sizable investment. About $50,000 for the trust points on top of the $6800 to buy the same week back.

 

[Dewnay]

I wish my experience was like all of yours. I have had a 2 bedroom Penthouse at Ko Olina wait listed to sell my unit for a few years and no action by Marriott at all. I called to see if there had been activity for sells and was told by the Rep. that no units had been sold in the last year.

Hi Yobo500,

Is your penthouse an Ocean View or Mountain View? I received the following offer last year:

You are receiving this communication as a result of registering an interest to sell your ownership with our Resale Operations Department. At this time, Marriott Vacation Club International (MVC) is extending an offer to purchase your Platinum Season 2 Bedroom Ocean View Penthouse week at Marriott’s Ko Olina Beach Club for $12,000 less $500 administrative and processing fees. At closing, your approximate net proceeds will be $11,500*. The first year occupancy to MVC will be 2016; therefore, you will retain usage for 2015 and you are responsible for payment of the 2015 maintenance fee. Should you decide to accept this offer, you are agreeing to relinquish any rights to usage of the timeshare in 2016 and future years. Any reservations you have placed for 2016 will be cancelled. The closing timeframe is anticipated to be within 120 days of your acceptance.

In order to qualify for this offer, any applicable loan, maintenance fee balance and/or taxes must be current. This offer is valid through 10/14/14. If you desire to accept this offer, you must contact the Resale Operations department no later than 10/14/14.


I declined the offer seeing that they list these units at $66,000 on their resale website and having been able to rent the week out successfully, felt no compulsion to accept.

D.

 

[iluvfla]

Does anybody know, how much can I get for a ocean pointe 2bdrm Oceanside gold season? And how about a 2bdrm grand chateau platinum? Both are every year. Thanks.

 

[spaulino]

What is the 800 number for Marriott that I can call to see if they have a unit that I want for resale? I just wnt to see how much they are selling them for. And the amount difference compared to getting it from a 3rd party.

 

[iluvfla]

1-866-682-4547

 

[Saintsfanfl]

What is the 800 number for Marriott that I can call to see if they have a unit that I want for resale? I just wnt to see how much they are selling them for. And the amount difference compared to getting it from a 3rd party.

Save yourself the trouble and look online.

https://www.marriottvacationclub.com/resales/buy-weeks.shtml

 

[Saintsfanfl]

Does anybody know, how much can I get for a ocean pointe 2bdrm Oceanside gold season? And how about a 2bdrm grand chateau platinum? Both are every year. Thanks.

On a brokered resale your net proceeds on the Ocean Pointe will be $5,340. I don't think the resale department brokers Chateau but you would have to call to be sure. If not then ask what the current buyback price is.

 

[iluvfla]

I was offered $4200 minus $500 by Marriott, I think it's a good deal, no hassle. This is for the ocean pointe. Thanks.

 

[yobo500]

My unit is a Mountain View Penthouse. I was offered $4400 minus the normal fee of $500. I also declined since Marriott offered such a cheap price for this unit.

 

[Saintsfanfl]

I was offered $4200 minus $500 by Marriott, I think it's a good deal, no hassle. This is for the ocean pointe. Thanks.

That's for the direct buyback. Do the brokered list. It's the same type of no hassle and you get $5,340. Don't sell yourself short. Also don't believe their lies that you would have to wait a long while.

 

[s002965]

Marriott Aruba Ocean Club Resales

I own 2 weeks at the Marriott Aruba Ocean Club and have been on a resale wait list for 2 years. I called in January 2015 and I was about #200 (which was the same as when I first added). They said they hadn't opened up for resales at that time.

On April 25, 2015, I received an email from the resale department in Orlando stating they are extending an offer to list my week for $6100. They get their standard 40% commission, and at closing I would receive $3660.

The offer is only valid through 4/29/15. The Open contract is for 12 months. If I find a buyer on my own prior to them, they do not get a commission. I responded that I am interested, and today received an email with contracts attached. I'm am to complete them and return with 14 days.

They had to go through a lot of people before getting to me. I can't imagine they have suddenly had a large influx of buyers. I'm willing to accept the price because there are a lot of current listings for close to that price and it removes all the hassle for me. They find the buyer, and handle the closing and no need for a ROFR. It will be interesting to see how long before they find a buyer.

I was one of those who paid full price at $9700, but it was way back in 1999. I've been to Aruba almost every year since and built a lot of memories there. In this case, I've gotten my money's worth at a top notch resort.