Marriott BUYBACKS AND TAKEBACKS [2012 / Ongoing]

[dioxide45]

I would love to do this. Would they sell my weeks at Custom House if I bought resale? If so, I need to get out of mine and just enter an OGS for the dates I want to travel. We have 1 annual and on EOY even. I would absolutely LOVE to get out from under those maintenance fees, and the weeks have no better trading power than my Willow Ridge Platinum 1 bedrooms. We own Platinum.

You might be able to get more out of it than you paid!

 

[DCBoy]

While it is not a direct buy back, Marriott is currently brokering the sale of custom house weeks and selling them quite quickly at prices of $5200(net of $3120 to the owner) for gold weeks and $8000(net of $4800) for platinum weeks. Certainly a great opportunity for owners that are interested in selling as the weeks are selling extremely fast.

Just wondering what info you might have to support your statement that those repackaged Custom House weeks are selling extremely fast?
Thanks,
DB

 

[Cobra1950]

Thanks for the suggestions on my sister in law's dilemma on Marriott salesperson refusing to answer her emails regarding his promised buyback of two low/no points value weeks in return for buying enough points to get into the DC points program.. I will pass them on to her and let you all know what happens.
She will try one more time to deal with him directly, telling him next will be to his boss about his non cooperation.
We are shocked as well as I have never heard of Marriott allowing something like this to happen, and we have been Legacy owners since 1999!

 

[Seaport104]

Grande Vista Weeks

In case anyone is interested, here's what I found out about Grand Vista weeks-

- No buy backs for any of the Grand Vista Weeks for all sizes and season
- They are accepting listings for 3 bedroom platinum and gold
- They have 100+ units already on the waitlist for 2BR platinum and gold weeks so they are no longer accepting any more listings for the 2BR's

 

[dioxide45]

In case anyone is interested, here's what I found out about Grand Vista weeks-

- No buy backs for any of the Grand Vista Weeks for all sizes and season
- They are accepting listings for 3 bedroom platinum and gold
- They have 100+ units already on the waitlist for 2BR platinum and gold weeks so they are no longer accepting any more listings for the 2BR's

Wow, it seems that a lot of people want out of Grande Vista. I wonder if there is a chance that EOY would move faster since these seem to be more coveted with the hybrid packages?

 

[Seaport104]

Wow, it seems that a lot of people want out of Grande Vista. I wonder if there is a chance that EOY would move faster since these seem to be more coveted with the hybrid packages?

Even the EOY 2BR's weren't being listed. But there seems to be a demand for the 3BR units, including the EOY. She offered to list my EOY 3BR's but no thanks.

 

[Saintsfanfl]

Don't believe everything they tell you. They lie about how long the lists are and what they are listing currently. For EOY they only have Plat listed as available to buy, which means they don't have the Gold on hand. I experienced this and pushed them multiple times until they admitted it and immediately listed some units I had. Not sure why they do this but when they were buying back it made sense.

 

[sb2313]

Wow, it seems that a lot of people want out of Grande Vista. I wonder if there is a chance that EOY would move faster since these seem to be more coveted with the hybrid packages?

Not grande vista, but I listed an eoy odd Harbour lake gold week earlier this year and it sold in less than a week through Marriott resale.

 

[Seaport104]

Don't believe everything they tell you. The lie about how long the lists are and what they are listing currently. For EOY they only have Plat listed as available to buy, which means they don't have the Gold on hand. I experienced this and pushed them multiple times until they admitted it and immediately listed some units I had. Not sure why they do this but when they were buying back it made sense.

Wow, good to know! Makes no sense why they would do this. I asked them how come none were listed on the website when I questioned the validity of their statement. Their answer was the website isn't accurate (not surprising given the track record for their website)

 

[Saintsfanfl]

Wow, good to know! Makes no sense why they would do this. I asked them how come none were listed on the website when I questioned the validity of their statement. Their answer was the website isn't accurate (not surprising given the track record for their website)

I asked the same thing. They told me they weren't sure and when I pushed them to ask someone else why they put me on hold. When they came back they said they were looking at an outdated sheet and the website is more current. They said they get printed sheets to go off of and they are not always current. I personally didn't believe them and instead assumed they wanted me to take the buyback offer. Without the buybacks in place I am not sure what the motivation is except it is very possible that they only push the units that salesman have specific requests for.

 

[samara64]

I signed 2 listing agreement 2BR MSR ODD PLAT and MGV 3BR ODD PLAT both with 2019 first usage.

The listing contract was received yesterday in the Marriott Orlando office.

Today I got a call that the MSR is under contract and will go to closing ASAP.

I do not see any of them on Marriott resales website. Looks like they have a wait list for buyers.

Also they are closing my MDS Red annual after few month listed.

Looks like they are selling quick.

 

[dioxide45]

I signed 2 listing agreement 2BR MSR ODD PLAT and MGV 3BR ODD PLAT both with 2019 first usage.

The listing contract was received yesterday in the Marriott Orlando office.

Today I got a call that the MSR is under contract and will go to closing ASAP.

I do not see any of them on Marriott resales website. Looks like they have a wait list for buyers.

Also they are closing my MDS Red annual after few month listed.

Looks like they are selling quick.

I am interested to know how they will handle the MFs for the weeks. You will get 2017 usage, so will Marriott withhold the 2017 and 2018 MF from the sale proceeds?

 

[samara64]

We had a long discussion about that as each week is different.

It will depend on the first year of MF and first year of usage by first buyer from Marriott.

You need to get such docs from Marriott for $65 for first week and $10 each thereafter if ordered at same time.

If you do not provide any docs, it will be 2017 & 2018.

 

[samara64]

Today I just got a call that the MGV week is under contract as well.

Looks like EOY weeks go quick.

The whole operation is less then a week for my initial call.

 

[Saintsfanfl]

We had a long discussion about that as each week is different.

It will depend on the first year of MF and first year of usage by first buyer from Marriott.

You need to get such docs from Marriott for $65 for first week and $10 each thereafter if ordered at same time.

If you do not provide any docs, it will be 2017 & 2018.

By docs do you mean the finance estoppel? I thought they did those for free. They used to anyway. They definitely have to withhold the fees for non-use years since they do not adjust the purchase prices to compensate.

I keep procrastinating calling them. I have a boat load of weeks to sell and some are going to take a while to move.

 

[samara64]

Not estoppel for sure.

It is called DOCUMENT REQUEST FORM and you get it from financial services. $55 for first week and $10 for each one thereafter.

If you got an EOY week, I would call for sure.

I called resale operation first last Thursday. They emailed me the 2 contracts same day. On Friday, I had it signed and notarized and in the mail. Monday they were at Marriott. Tuesday MSR sold. Wed MGV sold.

I know it is easy to sell 3BR MGV so I thought it will go first within a month or so but shadow ridge went first. Maybe it is a matter of communicating with the buyer.

I use these for II trading and frankly I think DSV II and Willow ridge are the best deals if you want to trade. MSR would have been as good but I like DSV location more in case I want to use it. I know others like MSR setup more which is a great property too.

Like others have reported, using these weeks (and Worldmark as well) in the past years I got multiple NCV in summer (inc. 4th of July week), FSA, MGO, MOW, MVO, MM1, MKO all in 2BR and even 2 of them are in 3BR. Most are prime seasons as well.

I am just lowering my week count from 8 weeks to 2 weeks/year as I always lock off. I simply overbought as buying Marriott weeks gets very addictive. Also we go every other year to Europe or other oversees locations where there is no Marriott timeshares so I end up with unused deposits.

 

[Sullco2]

Custom House buh-bye

We just got back from our last short stay at Custom House--at least our last as owners. We sold our secondary market platinum week and I couldn't be more satisfied.

If I told you how little I paid a few years ago it would be construed as gloating. But we let them list it a few months ago then watched it go through a defaulted resale where Marriott kept the defaulter's deposit and GAVE US HALF OF IT!

Then MVCI bought the week itself. We got the check last week and had an existing rez Sunday through Wednesday. Weather was great and we felt like geniuses because we effectively got four years of usage for almost nothing.

I don't know how Pulse is going to do but we wish them well and always enjoyed our stays there. So did the family.

Thanks to tug for keeping us aware of the latest insider info.

 

[live4life]

Looking to resale one of my TS back to Marriott- it will be my first time. Anyone has experience on selling their TS back to them?

Assumption: high demand week on a very popular resort.

In other words, if the assumption is true will they automatically purchase it or will they post it on their website to sell and then contact the seller?

I read a few years back that they pay about 40 cents on the dollar from what they offer on the weeks they sell on their website.

[Post moved to ongoing related thread. <-- SueDonJ]

 

[tschwa2]

Looking to resale one of my TS back to Marriott- it will be my first time. Anyone has experience on selling their TS back to them?

Assumption: high demand week on a very popular resort.

In other words, if the assumption is true will they automatically purchase it or will they post it on their website to sell and then contact the seller?

I read a few years back that they pay about 40 cents on the dollar from what they offer on the weeks they sell on their website.

[Post moved to ongoing related thread. <-- SueDonJ]

Buy back offers have been greatly reduced and eliminated at many resorts. I would expect if you were offered one now it may be closer to 20-30% of what they are selling for after they take their fees. Buy backs aren't sold, they are generally deposited in the DC Trust. Offer for brokered resales are in at 60% the going rate with some additional fees taken off the top when sold.

 

[Steve A]

Are they not selling Aruba Ocean Club? I don't see it or any non-US TS for sale.

 

[dioxide45]

Are they not selling Aruba Ocean Club? I don't see it or any non-US TS for sale.

In Europe, they still sell weeks, not DC points. They fairly recently restarted selling weeks in Aruba. I don't know if they still sell DC points there too. I think this is why we have seen Marriott exercising ROFR more for Aruba weeks.

 

[Steve A]

Thanks. I'll give them a call and see if they want to buy back or will list my one bedroom gold.

 

[samara64]

MVCI resales sold few weeks for me in the past 3 months.

I had a red week listed with them and I was #1 on the list. Got an email today that the resale list price is dropping 2K. Called to see what is going on, all resale weeks have dropped in price and MVCI resale website will be updated soon.

If you have a week listed with them (not on the wait list) and have signed a listing agreement, you should get an addendum to allow the broker to accept a lesser price. New agreements will be at lower price.

Just a heads up.

 

[Saintsfanfl]

MVCI resales sold few weeks for me in the past 3 months.

I had a red week listed with them and I was #1 on the list. Got an email today that the resale list price is dropping 2K. Called to see what is going on, all resale weeks have dropped in price and MVCI resale website will be updated soon.

If you have a week listed with them (not on the wait list) and have signed a listing agreement, you should get an addendum to allow the broker to accept a lesser price. New agreements will be at lower price.

Just a heads up.

I'm not sure I buy that they are doing an across the board decrease so it probably depends on the property. They have zero to gain by decreasing units that are moving steadily. I have several listed with them and I have not received any notifications. What specific unit is it that you were notified of a $2k drop?

 

[samara64]

I called and they stated that.

It is a DSV 1 Red EY. Nice unit.

Not sure about others but she stated it is across the board. I asked about few others and they were dropped too.

I remember DVS 1 White used to be $7800 but now only $6,600 on the web site.

I would call and ask them about your specific units and you can report back.