Marriott Resale Process Timing

[vol_90]

Sent an e-mail to Marriott Owner Modifications requesting status on a couple of transactions last week. Received a response in 3 days with some information to share.

1.) The office was closed for most of the week of Hurricane Ian
2.) They received the external transfer documents to initiate HOTA's on September 1st for one transaction with starting usage date of 2024. The team is currently processing resales on a received by date and were processing dates of August 28th as of yesterday.
3.) On another transaction the external transfer documents were validated and transfer fees processed on October 14th. The transaction will remain on hold until the 2023 maintenance fees are paid. This will delay the processing time by up to 2 months since the maintenance fee invoices for the resort are not sent out until the 1st week of December. I will call and pay 2023 MF's on the current owner's behalf once the amount is known and send receipts to Owner Modifications to get back in line for drafting the HOTA's. (I trust the individual I'm working with).

In summary expect 4 months processing time to complete transactions not delayed by MF's and up to 6 months for any Q4 transactions needing next years MF's to be paid.

I'm a patient person

 

[Red elephant]

Wow at this rate one will not be able to book for 2023.

 

[TheTimeTraveler]

Wow at this rate one will not be able to book for 2023.

Not true; Be sure to have the current owner book a week for the buyer, and have that reservation transfer with the sale. Result? Seller unloads the week and buyer gets the week he/she wants with the reservation he/she wants.

This process should always be followed with buying any week.




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[Red elephant]

Not true; Be sure to have the current owner book a week for the buyer, and have that reservation transfer with the sale. Result? Seller unloads the week and buyer gets the week he/she wants with the reservation he/she wants.

This process should always be followed with buying any week.




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Is there anything good for 2023 still available at this point? I had a difficult time doing this for August. Unless you plan on traveling in November/December trying to get a reservation for spring or summer included in a resale contract is going to be difficult .

 

[TheTimeTraveler]

Plan ahead. One may want to pursue a week in 2024 instead. Let the seller pay for and occupy 2023 usage, and the buyer gets to make his/her own reservation for 2024.

There's always a way to get to the piece of cheese.




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[jme]

Is there anything good for 2023 still available at this point? I had a difficult time doing this for August. Unless you plan on traveling in November/December trying to get a reservation for spring or summer included in a resale contract is going to be difficult .

That football is in your court. You have to call Owner Services and find out what's available, or have the seller do it if they want to do you that favor, some don't amazingly.
But they SHOULD do it!
Do the best you can do, and that's all you can do.
You can make a list of what's available, then choose the one you like and have the seller book it ASAP for you.
The longer you wait, the worse the list gets.

 

[Dean]

Wow at this rate one will not be able to book for 2023.

One does have to plan and the first year of occupancy can increase the real cost of a resale quite a bit, often enough to turn a good deal bad. There are ways around it such as asking the seller to book for you or buying in such a way it's not an issue even if it takes 4-6 months to get into your account. For the latter, letting seller take the next week is one but often one that doesn't work out. Some brokers will not book a week for you or get the owner to do so. An EOY contract can be a good way to do so or just timing the purchase to give as much time as possible may be enough though likely won't get you that top of the line week where there is a lot of completion for a limited number of weeks.

 

[Red elephant]

Plan ahead. One may want to pursue a week in 2024 instead. Let the seller pay for and occupy 2023 usage, and the buyer gets to make his/her own reservation for 2024.

There's always a way to get to the piece of cheese.




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This is a good idea and I did not think sellers would want this. At this late in the game the should have a reservation already for themselves so maybe the can use the week in 2023.

 

[jwalk03]

I have purchased most of my weeks from brokers and every time I have asked to have a week booked for me before the transfer the answer has always been no. I didn't have any issue booking weeks are renting them last year though even with weeks that transferred a bit later. I may have been able to get a higher price with a better week, but i got more than enough to cover the maintenance fees for the year.

 

[TheTimeTraveler]

This is a good idea and I did not think sellers would want this. At this late in the game the should have a reservation already for themselves so maybe the can use the week in 2023.

I always attempt to buy my resale timeshares using this method but clearly it doesn't always work.

Many sellers will play ball if they are hungry to move their week........



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[Red elephant]

I have purchased most of my weeks from brokers and every time I have asked to have a week booked for me before the transfer the answer has always been no. I didn't have any issue booking weeks are renting them last year though even with weeks that transferred a bit later. I may have been able to get a higher price with a better week, but i got more than enough to cover the maintenance fees for the year.

I bought my Ocean Watch from redweek and the owner was able to book a week in late August for me. So maybe I will stick with redweek.

 

[kyaustin]

2.) They received the external transfer documents to initiate HOTA's on September 1st for one transaction with starting usage date of 2024. The team is currently processing resales on a received by date and were processing dates of August 28th as of yesterday.

To follow up on this and a confirmation, I had a resale that was sent to Marriott on 8/24/22 and it finally showed up in my account on 10/18/22 (that's 55 days) and confirms the date you were told above that they're processing late August stuff now.

 

[DRH90277]

To follow up on this and a confirmation, I had a resale that was sent to Marriott on 8/24/22 and it finally showed up in my account on 10/18/22 (that's 55 days) and confirms the date you were told above that they're processing late August stuff now.

Mine was about the same. Recorded in County on 8/11/22, Marriott recording on 10/12/22 - they were saying 45 business days which is about he equivalent of these time intervals. The good news is the ROFR approvals were very fast - 1 to 2 days.

The suggestion to have the seller make a reservation is always a good one.