Marriott BUYBACKS AND TAKEBACKS [2012 / Ongoing]

[djyamyam]

I submitted my Maui 2bdr/3 bath unit for a possible buy back online last night. I got an offer today that was insultingly low - about 1/8th of what I paid for it 10 years ago.

Where does one make this online submission?

 

[ronparise]

I'm sorry, I thought you were asking from a buyer's vantage point and not a seller's. Now I'm guessing that you'll be contacting the Resales office to see if you can do better through them than through eBay?

No...Im a firm believer in auctions, and that they are the best way to determine market value...and I want it sold quickly

 

[Beefnot]

No...Im a firm believer in auctions, and that they are the best way to determine market value...and I want it sold quickly

When did you get into the timeshare flipping business?

 

[tschwa2]

Annoying thing about ROFR. Marriott elected to take back a unit I was selling in April. It was one that they said they were not interested in buying back at that time (when I contacted them about a month before selling). The paperwork I received said that they would close with me no later than 6 months time. I wrote back saying I thought this was ridiculous and offered to quit claim to them. They claimed to be really backed up but that it should probably be closer to 4-4.5 months to close and if I didn't receive paperwork in 4 months I should let them know. I received the paperwork in just under 4 months. I faxed everything back and they closed about 5 days later.

Point of this story is that selling for cheap for the "quick sale" can sometimes backfire especially with Marriott. Hopefully the seller would not have to pay 2013 MF's if waiting for Marriott to close on a ROFR.

 

[ronparise]

When did you get into the timeshare flipping business?

I had to put my money where my mouth is: see this thread

The one on ebay is a different property...but same idea..Ive also posted on the bargain forum but with little success

 

[ronparise]

Annoying thing about ROFR. Marriott elected to take back a unit I was selling in April. It was one that they said they were not interested in buying back at that time (when I contacted them about a month before selling). The paperwork I received said that they would close with me no later than 6 months time. I wrote back saying I thought this was ridiculous and offered to quit claim to them. They claimed to be really backed up but that it should probably be closer to 4-4.5 months to close and if I didn't receive paperwork in 4 months I should let them know. I received the paperwork in just under 4 months. I faxed everything back and they closed about 5 days later.

Point of this story is that selling for cheap for the "quick sale" can sometimes backfire especially with Marriott. Hopefully the seller would not have to pay 2013 MF's if waiting for Marriott to close on a ROFR.

One of the terms of the sale will be a settlement date and that the buyer is responsible for 2013 fees. My understanding of ROFR is that the one with the "right" has to meet all the terms of a legit offer, not just price. I can assure you, the seller wont pay

 

[BocaBoy]

No...Im a firm believer in auctions, and that they are the best way to determine market value...and I want it sold quickly

If MVCI wants to buy it back, it can happen as quickly as an EBay sale. When I sold them my Sabal Palms week, it was much less than a month between getting the offer and getting the check.

 

[ldodd]

Where does one make this online submission?

See SueDonJ's post (#2 in this thread). It gives the link and instructions.

 

[jjking42]

I submitted a Platinum week online lets see how fast they get back to me

 

[ciscogizmo1]

See SueDonJ's post (#2 in this thread). It gives the link and instructions.

The link does not work for me. Can someone provide a new link. Thanks, Tina

 

[SueDonJ]

The link does not work for me. Can someone provide a new link. Thanks, Tina

All the links I've tried go back to that same page. Will it work if you type www . marriottvacationclub . com / resales into your browser? (Minus the spaces - I doctored it so it wouldn't show up here as a link.)

 

[wuv pooh]

I get to the page OK, but you can only buy weeks. There is no place to turn in a week for a quote. Where are people seeing that

 

[dioxide45]

I get to the page OK, but you can only buy weeks. There is no place to turn in a week for a quote. Where are people seeing that

Click on the "Have a Question" button at the top of the page.

 

[BocaBoy]

Just an observation.....I think quite a few people on TUG (and elsewhere I am sure) do not really understand the difference between: (a) MVCI Resales telling them the price at which they will list the week for sale; and (b) MVCI making an actual offer to buy back the week.

 

[dioxide45]

Just an observation.....I think quite a few people on TUG (and elsewhere I am sure) do not really understand the difference between: (a) MVCI Resales telling them the price at which they will list the week for sale; and (b) MVCI making an actual offer to buy back the week.

Good point, if you are going through the resales site, it would be expected that this would be to list your timeshare for sale through the MVCI resale division. Buyback offers usually come through a different area as they are not buying them back to try to resell but rather to likely feed the trust.

 

[ciscogizmo1]

All the links I've tried go back to that same page. Will it work if you type www . marriottvacationclub . com / resales into your browser? (Minus the spaces - I doctored it so it wouldn't show up here as a link.)

It might have been my browser as it couldn't verify the web address so it wouldn't let me in. So thanks for link details.

 

[Steve A]

I asked them about buying back our 2-bedroom week at the Grand Chateau, and this is the response I received. The price was much too low and I declined.

Dear Mr.

Thank you for your email. At this time, Marriott Vacation Club International (MVCI) can extend an offer to purchase your Platinum Season 2 Bedroom Excellent View week at Marriott’s Grand Chateau for $3,400 less $500 administrative and processing fees. At closing, your approximate net proceeds will be $2,900*. The first year occupancy to MVCI will be 2014. The closing timeframe is anticipated to be within 150 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 Tuesday, September 18, 2012. If you desire to accept this offer, you must contact the Resale Operations department no later than 5:00 pm that day. This offer is subject to change at any time with or without notice. If you desire to decline this offer and would like to remain on the registration list for future sale opportunities, please contact Resale Operations by the date indicated above. If we do not receive a response from you by the date indicated above, it will be assumed that you no longer desire to sell and subsequently your registration may be removed from the list.



Please respond to resale.operations@vacationclub.com or contact us toll free at 1-866-682-4547. Should you desire to discuss this offer in more detail, please do not hesitate to give us a call. Thank you in advance for your consideration and we look forward to hearing from you soon.

 

[rickandcindy23]

Marriott supposedly ROFR a Willow Ridge Platinum 2 bed, annual. I paid around $750 for it, and they wanted it. But you never know, as the seller may have gotten a better offer than my high bid.

I have another in the process.

Sue, I was just thinking that it won't take long and you will be way ahead of me in # of posts on TUG. I have been feeling a little embarrassed to be second behind Denise, moderator extraordinaire. I am not even a mod.

So thankful to Dave M who was one of the main reasons I bought my Marriott.

 

[TheTimeTraveler]

I asked them about buying back our 2-bedroom week at the Grand Chateau, and this is the response I received. The price was much too low and I declined.

Dear Mr.

Thank you for your email. At this time, Marriott Vacation Club International (MVCI) can extend an offer to purchase your Platinum Season 2 Bedroom Excellent View week at Marriott’s Grand Chateau for $3,400 less $500 administrative and processing fees. At closing, your approximate net proceeds will be $2,900*. The first year occupancy to MVCI will be 2014. The closing timeframe is anticipated to be within 150 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 Tuesday, September 18, 2012. If you desire to accept this offer, you must contact the Resale Operations department no later than 5:00 pm that day. This offer is subject to change at any time with or without notice. If you desire to decline this offer and would like to remain on the registration list for future sale opportunities, please contact Resale Operations by the date indicated above. If we do not receive a response from you by the date indicated above, it will be assumed that you no longer desire to sell and subsequently your registration may be removed from the list.



Please respond to resale.operations@vacationclub.com or contact us toll free at 1-866-682-4547. Should you desire to discuss this offer in more detail, please do not hesitate to give us a call. Thank you in advance for your consideration and we look forward to hearing from you soon.

I find this extremely interesting. In the past, Marriott would never be interested in buying back any units in a development where they were not 100% sold out.

Grande Chateau is not sold out, and in fact they are currently building again (one has to assume lots of inventory available yet they will buy back).




.

 

[jdunn1]

So Cindy, you just own the one Willowridge? I thought you had more. I used Sumday for my Willowridge a couple years ago. Paid something like 1,100 for it back then with no fear of ROFR. My manager just bought a platinum EOY for just shy of $700 through Sumday. You have commented on Sumday so you know what they are like but in my oppinion, they are the best at pricing so you don't loose out to Marriott at ROFR time.

I also used Sumday as my closing agent for the OceanWatch unit I purchased from a private seller just over a year ago. I was worried about ROFR with that week but Sumday got it through okay.

...So have you made your first trade with your Marriott? If so, how well did you do?

Marriott supposed ROFR a Willow Ridge Platinum 2 bed, annual. I paid around $750 for it, and they wanted it. But you never know, as the seller may have gotten a better offer than my high bid.

I have another in the process.

Sue, I was just thinking that it won't take long and you will be way ahead of me in # of posts on TUG. I have been feeling a little embarrassed to be second behind Denise, moderator extraordinaire. I am not even a mod.

So thankful to Dave M who was one of the main reasons I bought my Marriott.

 

[LUVourMarriotts]

I just called the number out of curiosity, not really wanting to sell.
They offered:
Aruba Surf Club Gold GV 2BR LO - $3000 less $500 admin fee ($2500 total)
Fairway Villas Platinum 2BR - $2300 less $500 admin fee ($1800 total)
There is not currently a resale program through Marriott for either property, so that was not an option. (referring to having them list my weeks for resale and they take 40% commission)

 

[jdunn1]

No resale program available for OceanWatch or Willowridge, either. About a year ago I was told by that department that Marriott would be adding one new resort a month to the resale program. Since that time, not even one new resort has been added.

I just called the number out of curiosity, not really wanting to sell.
They offered:
Aruba Surf Club Gold GV 2BR LO - $3000 less $500 admin fee ($2500 total)
Fairway Villas Platinum 2BR - $2300 less $500 admin fee ($1800 total)
There is not currently a resale program through Marriott for either property, so that was not an option. (referring to having them list my weeks for resale and they take 40% commission)

 

[rickandcindy23]

So Cindy, you just own the one Willowridge? I thought you had more. I used Sumday for my Willowridge a couple years ago. Paid something like 1,100 for it back then with no fear of ROFR. My manager just bought a platinum EOY for just shy of $700 through Sumday. You have commented on Sumday so you know what they are like but in my oppinion, they are the best at pricing so you don't loose out to Marriott at ROFR time.

I also used Sumday as my closing agent for the OceanWatch unit I purchased from a private seller just over a year ago. I was worried about ROFR with that week but Sumday got it through okay.

...So have you made your first trade with your Marriott? If so, how well did you do?

Bought our only one through Sumday but tried to get two more through eBay resellers. The one was ROFR, but maybe the second won't be.

Haven't made a single trade yet. I have so many Starwoods to use, I don't usually look at trades much with the Marriott.

 

[LUVourMarriotts]

No resale program available for OceanWatch or Willowridge, either. About a year ago I was told by that department that Marriott would be adding one new resort a month to the resale program. Since that time, not even one new resort has been added.

The woman told me that they expect to open resales for Surf Club sometime next year. There is no estimate for Fairway Villas because they are now planning to build another building, which won't open until 2014. The purpose is to sell more points, from what I was told. We'll see if it really happens.

 

[jdunn1]

I've been tempted by those ebay sellers, too. I do not think I am ready for another yearly dues commitment, though.

Marriott is best used for ongoing searches for other Marriotts, in my oppinion. You can and will get more Marriott inventory for instant exchanges but the difference is only noticable in certain areas. A lot of the Marriott sightings can usually only be seen with a Marriott deposit but the folks here on TUG catch most of those listings so I do not search much with my Marriott week, either. Of course, I already used my Marriott deposit for next year, so there really isn't much reason for me to be searching.

Good luck with the ebay purchase.

Bought our only one through Sumday but tried to get two more through eBay resellers. The one was ROFR, but maybe the second won't be.

Haven't made a single trade yet. I have so many Starwoods to use, I don't usually look at trades much with the Marriott.