Need Help Again- Just bought from Marriott Sales Presentation (Ocean view myrtlebeach)

[Avulasai]

1) This forum has been a blessing for me. Once saved me from a bad purchase at Sheraton in returning. introducing me to Redweek and the resale market etc.
2) My wife and I so far did not own any timeshare but today finally pulled the trigger after a Marriott sales presentation and what we thought was a "decent" deal. Understood resale market might still have been a better deal but as a first-timer purchase thought being in the Marriott "system" might be helpful. I posted on this subject previously but the purpose of this one is to get some feedback on the current situation.
3) we have been coming to Marriott Ocean view , and Myrtlybeach consistently for last 5 years. Always rented on redweek or else where. So this is a good place for our family to visit.
4) Our purchase - Marriott offered a "resale week" PLUS points combination during the presentation. They said resale week alone is not something they will sell anymore but incentivizing buyers by this hybrid option. So its platinum oceanfront week guaranteed (4375 points) + 3000 points (purchase). Puts us at the executive level. But since we are buying a week we are guaranteed a platinum oceanfront. The whole deal comes to approx $9/point.

 

[TheTimeTraveler]

Marriott WILL sell you a resale week (without the Hybrid option) ONLY IF you tell them that this is what you want. You will save a lot of money, and more money if you buy a resale week from someone other than Marriott (i.e. private party). Granted, a purchase of a resale week (without points) won't have the flexibility, but you won't be paying for the luxury of that flexibility.

By the way on www.ROFR.net you can see that Platinum weeks passed the ROFR process for approximately $11,000 in June/July of 2022. You can see by this example that this is substantial savings over what you paid.

I am not sure if you purchased Ocean View (in your subject title) or Oceanfront (in your text on item #4).

Personally? I would rescind and buy a non hybrid resale week. However, it is your money and you ultimately make your own decision.






.

 

[jwalk03]

So that’s what about $65K?

You could buy a platinum OF week at Oceanwatch for $15k-$20k (it would be unenrolled and not eligible to elect for points) and then buy 3000x$7= $21k so you are overpaying by roughly $24,000.

Is having your single week that is enrolled worth $24,000?? I would say most certainly not.

I think you should rescind and buy resale. (Buying from Marriott is not buying resale no matter what they call it- it still comes with a huge developer markup!)

 

[Avulasai]

Marriott WILL sell you a resale week (without the Hybrid option) ONLY IF you tell them that this is what you want. You will save a lot of money, and more money if you buy a resale week from someone other than Marriott (i.e. private party). Granted, a purchase of a resale week (without points) won't have the flexibility, but you won't be paying for the luxury of that flexibility.

By the way on www.ROFR.net you can see that Platinum weeks passed the ROFR process for approximately $11,000 in June/July of 2022. You can see by this example that this is substantial savings over what you paid.

I am not sure if you purchased Ocean View (in your subject title) or Oceanfront (in your text on item #4).

Personally? I would rescind and buy a non hybrid resale week. However, it is your money and you ultimately make your own decision.






.

 

[Avulasai]

It’s ocean front

 

[Avulasai]

So that’s what about $65K?

You could buy a platinum OF week at Oceanwatch for $15k-$20k (it would be unenrolled and not eligible to elect for points) and then buy 3000x$7= $21k so you are overpaying by roughly $24,000.

Is having your single week that is enrolled worth $24,000?? I would say most certainly not.

I think you should rescind and buy resale. (Buying from Marriott is not buying resale no matter what they call it- it still comes with a huge developer markup!)

Right exactly. That’s what about 65k. They also offered one time bonus of approx 6000 points plus 200000 bonvoy points so that’s approx another 8k worth. I am still overpaying about $16k. But may be executive level and being able to enroll into points and A bit more flexibility will help travel
To other spots. The sales guy this is the best deal
I have would get probably directly from Marriott . We did a similar presentation last year which I believe then came out to $11/point so it was not a great deal at all which we passed

 

[Steve Fatula]

You can get as low as $6-$7 per point sometimes direct from Marriott. It's up to you if it's "worth it" as others have said. I do personally like enrolled weeks. Actually, in Spain, I got an enrolled $4+ / point deal, so, it can get even better. I think someone recently bested that, direct from Marriott, a month or two ago, I believe I commented that it was better than my deal.

It's not just cost per point though. The other side is ongoing maintenance fee/point, which over time is potentially more important. Which was what made my deal impossible (for me) to pass up. It was perhaps not the lowest, but pretty good, around 40c/point even today. We would never use that week. We got it solely for electing every single year for points. Cheaper than resale points and less MF.

Myself, I would never get an unenrolled week so resale is out for me. Unless the plan was to enroll it later.

 

[DanCali]

1) This forum has been a blessing for me. Once saved me from a bad purchase at Sheraton in returning. introducing me to Redweek and the resale market etc.
2) My wife and I so far did not own any timeshare but today finally pulled the trigger after a Marriott sales presentation and what we thought was a "decent" deal. Understood resale market might still have been a better deal but as a first-timer purchase thought being in the Marriott "system" might be helpful. I posted on this subject previously but the purpose of this one is to get some feedback on the current situation.
3) we have been coming to Marriott Ocean view , and Myrtlybeach consistently for last 5 years. Always rented on redweek or else where. So this is a good place for our family to visit.
4) Our purchase - Marriott offered a "resale week" PLUS points combination during the presentation. They said resale week alone is not something they will sell anymore but incentivizing buyers by this hybrid option. So its platinum oceanfront week guaranteed (4375 points) + 3000 points (purchase). Puts us at the executive level. But since we are buying a week we are guaranteed a platinum oceanfront. The whole deal comes to approx $9/point.

You can save a $25K-$30K by doing the following:

Buy that Oceanwatch week resale: cost about $17K in the listing below (there are others for $18K-20K). Wait for the sale to close and the week to be added to your account.
(https://www.redweek.com/posting/R1095679)

Buy a 3BR Gold Week at Playa Anadaluza direct from Marriott (can do all docs via DHL) and enroll that resale week as part of the transaction.

Playa Andaluza 3 bed gold sales offer

For anyone looking to get an external week enrolled, this is one of the better offers I've had! Playa 3 Bed lock off Gold Season 18.000€/19.300$/15.500GBP 3000 points per year Can enrol 1 external week with it

tugbbs.com

Based on that thread you can spend $20K to buy a Spain week and that will also enroll one resale week. Several tuggers have done similar deals, so it's legit. That Spain week would also be enrolled in Abound and is worth 3000 points annually - so you can just use it as 3000 points each year. Spain week are "right to use" and expire in a few decades.

There is a risk that the Spain offer may not be around by the time you close on that week, but they typically have these kinds of offers on and off but on an ongoing basis.

In the end this would be the same access to 7375 points you have now for about $37K (instead of $65K), or about $5 per point. The maintenance fees on that Spain week would be about $1600 (instead of $2100 per year for 3000 Trust points), so you will also pay less on an ongoing basis and save more each year vs what you have now.

 

[DRH90277]

My advice is to slow down and analyze this more carefully. Rescind right now - see papers - the same deal will be available for a few months. The sales guy will make a fuss but will give up fairly quickly because he won't want to totally alienate you as a customer. Just say you feel rushed, it's a lot of money, and you need more time. The sales manager will also call and ask what they can do to keep the deal. Again, just say it's a lot of money for us and we won't be rushed.

Oh, and don't get hung up on the $9 per point and the guaranteed Ocean Front week every year. Any platinum Ocean Front you buy resale for about $18,000 comes with that promise every year as the platinum season is stipulated as weeks 20 to 32 excluding the 4th of July week. The 3,000 Plus points is nothing compared to the interest you will pay, probably at 13.99% - roughly $5,000 per year.

My suggestion - buy 1 OW Platinum week now and another in a couple of years - same money. If you become unhappy, you can get most of your money back by reselling.

Only my opinion.....