Marriott deed back: how much is their offer lower than the market going rate?

[mindface]

Years ago, I deed back Ocean Pointe gold week and got $0 proceed, which was actually not bad as it is just a gold week and and I don't paid any closing cost.

But, I am just told same $0 for a Oceana Palms Platinum week (odd year). How come that be the case? Has market being changed quite a bit, or Marriott always offers just $0 proceed?

Thanks.

 

[davidvel]

Yes, markets change all the time. You can likely do better selling on the open market.

 

[tschwa2]

Marriott is offering very few actual buy backs. I think they feel they get enough for the trust with a deedback (but no money) offer and if need be ROFR.
What you might want to ask is if they are offering brokered resales and if you could get on the list for that. Once you see what they would be offering if eligible for brokered resale you could decide if that is worth the likely 6 months- 1year + to make it to the top of the waitlist and compare that to what you think you could get on the open market.

 

[mindface]

Marriott is offering very few actual buy backs. I think they feel they get enough for the trust with a deedback (but no money) offer and if need be ROFR.
What you might want to ask is if they are offering brokered resales and if you could get on the list for that. Once you see what they would be offering if eligible for brokered resale you could decide if that is worth the likely 6 months- 1year + to make it to the top of the waitlist and compare that to what you think you could get on the open market.

That's really good to know. Thanks.

Talking about open market, I searched eBay for "Marriott Timeshare": not many items found either, nor I found some familiar agents out there (as I saw years ago). Things must have been changed a lot.

 

[SteelerGal]

It took me 3 tries before we were able to buy a Plat Desert. Both taken via ROFR. One, the owner was denied a deedback.

 

[mindface]

It took me 3 tries before we were able to buy a Plat Desert. Both taken via ROFR. One, the owner was denied a deedback.

So, you are buyer in this case, and Marriott ends up over-bidding you when it comes to closing time.
So, their deedback offer is literally a "steal" from the owner!
Just curious, which marketplace were you using to buy your weeks? eBay, RedWeek or some other listing sites?

 

[SteelerGal]

So, you are buyer in this case, and Marriott ends up over-bidding you when it comes to closing time.
So, their deedback offer is literally a "steal" from the owner!
Just curious, which marketplace were you using to buy your weeks? eBay, RedWeek or some other listing sites?

one was EBay and other was Redweek. I went directly to Agent after that and min to pass was 4500/higher. Decided to purchase non ROFR site.

 

[davidvel]

So, you are buyer in this case, and Marriott ends up over-bidding you when it comes to closing time.
So, their deedback offer is literally a "steal" from the owner!
Just curious, which marketplace were you using to buy your weeks? eBay, RedWeek or some other listing sites?

To be fair, they overbid the OP and every other available (or not) buyer. Not really a "steal" as they paid over market not under.

 

[Steve Fatula]

So, you are buyer in this case, and Marriott ends up over-bidding you when it comes to closing time.
So, their deedback offer is literally a "steal" from the owner!
Just curious, which marketplace were you using to buy your weeks? eBay, RedWeek or some other listing sites?

This does not mean they pay $0 in case you were thinking that. If my offer was $10,000, and they exercise ROFR, they pay $10,000 to the owner.

 

[mindface]

To be fair, they overbid the OP and every other available (or not) buyer. Not really a "steal" as they paid over market not under.

I am looking from this perspective: yes, they overbid in the case of ROFR, and then are still doing this deedback ($0 net proceed) of some same or very similar weeks(at least for my case), which amounts to a literal "steal". So, they basically "steal" the weeks from you thru deedback when you don't want to go thru the hassle of open market.

 

[tschwa2]

I am looking from this perspective: yes, they overbid in the case of ROFR, and then are still doing this deedback ($0 net proceed) of some same or very similar weeks(at least for my case), which amounts to a literal "steal". So, they basically "steal" the weeks from you thru deedback when you don't want to go thru the hassle of open market.

Since they aren't forcing you to go through them it isn't stealing. If you list on Redweek you may get lowball offers. They aren't trying to steal your week. They are just seeing how bad you want to get rid of it. If you can wait a year or two you may get more and that is great if you can use your week in the mean time. If on the other hand you have to pay 2 years of MF's plus broker fees and you can't use your week because your circumstances have changed you aren't gaining anything by waiting to find a buyer at a higher price, in fact you may be losing money. In a year or two the market could get better or it could get even worse.