Presentation today. Need help with questions

[Tdawg33]

We attended a presentation today.

We have enrolled deeded weeks and the agent said that since we currently don’t own trust points we are limited on the inventory availability, all we would have access to is the inventory from deeded weeks and not trust inventory. Are there two inventory buckets that when we login and look for availability we would have access to?

They also said if we bought points on the secondary market it would increase our point total but not an increase our status. Is that true?

One of the agents said in 10 years he has only seen one person be successful in getting past the ROFR with Marriott and completing a transaction for destination points. I see them for sale all over the place so that surprised me. His comment was they the put them up for sale so Marriott will buy them but the buyer rarely gets them and the money will sit in escrow only to be told it was denied.

What momentary value would you put on plus points?

 

[vacationtime1]

Two total lies and one stretch (Marriott does ROFR resale points at prices up to about $3/point; see rofr.net).

Points can be rented for about $0.75/point, so that would be a fair starting point to value plus points.

 

[davidvel]

We attended a presentation today in Park City.

We have enrolled deeded weeks and the agent said that since we currently don’t own trust points we are limited on the inventory availability, all we would have access to is the inventory from deeded weeks and not trust inventory. Are there two inventory buckets that when we login and look for availability we would have access to?

They also said if we bought points on the secondary market it would increase our point total but not an increase our status. Is that true?

One of the agents said in 10 years he has only seen one person be successful in getting past the ROFR with Marriott and completing a transaction for destination points. I see them for sale all over the place so that surprised me. His comment was they the put them up for sale so Marriott will buy them but the buyer rarely gets them and the money will sit in escrow only to be told it was denied.

What momentary value would you put on plus points?

Total lies. They need to lie to sell this crap because it is so overpriced.

Did he mention you can rent all the points you want for about MF, at no upfront cost, and status is rarely if ever worth the cost to attain it from MVC? I'd bet not because that would be true. Truths don't sell this .

 

[rthib]

Wow, I feel so special that I am that one person who got resale destination points past ROFR
And then double special since after I bought those points it increased my status.
Of course not so special since I didn’t suddenly see any new inventory.

As for value, rental price is a good start but you will usually end up with extra points you can use. So if you get 400 points and the place you want only needs 320, then 80 points are useless.

 

[Dean]

We attended a presentation today in Park City.

We have enrolled deeded weeks and the agent said that since we currently don’t own trust points we are limited on the inventory availability, all we would have access to is the inventory from deeded weeks and not trust inventory. Are there two inventory buckets that when we login and look for availability we would have access to?

They also said if we bought points on the secondary market it would increase our point total but not an increase our status. Is that true?

One of the agents said in 10 years he has only seen one person be successful in getting past the ROFR with Marriott and completing a transaction for destination points. I see them for sale all over the place so that surprised me. His comment was they the put them up for sale so Marriott will buy them but the buyer rarely gets them and the money will sit in escrow only to be told it was denied.

What momentary value would you put on plus points?

I agree other than there is a tiny element of truth to the two buckets information. In reality it doesn't happen that way. In the past myself and others have seen limited situation where it made a difference. In theory it could again but the reality is that it's been years since I've seen any evidence that this was reality and since I've seen any posts suggesting it was happening. Think about it, for trust inventory to be available to only trust points, you'd have to be talking about TRUST inventory (not elected inventory) AND have essentially no one in the trust reserving elected inventory.

 

[rickandcindy23]

Wow, I feel so special that I am that one person who got resale destination points past ROFR
And then double special since after I bought those points it increased my status.
Of course not so special since I didn’t suddenly see any new inventory.

As for value, rental price is a good start but you will usually end up with extra points you can use. So if you get 400 points and the place you want only needs 320, then 80 points are useless.

How much did you pay for resale DP per point.

 

[Tdawg33]

After we told them we were just going to buy resale as the $ after incentives was close but was still off , they said they would give us a 90 day right of recession so that we can try and pass the ROFR and if we pass we can cancel. Technically they said we can cancel for any reason as well.

Have you heard of them extending the right of recision out to 90 days? The addendum looks legitimate. Any concerns I should be aware of?

 

[jmhpsu93]

Wow, I feel so special that I am that one person who got resale destination points past ROFR
And then double special since after I bought those points it increased my status.
Of course not so special since I didn’t suddenly see any new inventory.

As for value, rental price is a good start but you will usually end up with extra points you can use. So if you get 400 points and the place you want only needs 320, then 80 points are useless.

I'm also a special one...though my circumstance was a one-off during the beginning of COVID where I got 1K points through at $0.76/point. It also raised my status.

 

[jmhpsu93]

After we told them we were just going to buy resale as the $ after incentives was close but was still off by about $1000, they said they would give us a 90 day right of recession so that we can try and pass the ROFR and if we pass we can cancel. Technically they said we can cancel for any reason as well.

Have you heard of them extending the right of recision out to 90 days? The addendum looks legitimate. Any concerns I should be aware of?

I'll bet you they would ROFR anything with your name on it.

 

[vacationtime1]

I'll bet you they would ROFR anything with your name on it.

I have wondered whether Marriott exercises ROFR on a retaliatory basis. I was involved in a situation where I believe that happened.

I was selling my Kauai Beach Club 1bd OF unit about five years ago; the FMV for that unit at that time was about $5K. My buyer had just rescinded a contract with Marriott to buy the same unit, hired a broker who saw the ad for my unit, and the broker and I negotiated a deal at $8K including the broker's commission (the buyer was apparently happy to be in contract for $8K rather than what Marriott would have charged).

Marriott exercised ROFR at $8K. Marriott could have bought any number of 1bd OF units which were then listed on Redweek for ~$5K +/- had it wanted, but it did not. Why? I suspect retribution, although I have no evidence other than the economics which speak for themselves.

 

[Tdawg33]

I'll bet you they would ROFR anything with your name on it.

I had the same thought and asked about that specifically and his response was he doesn’t handle the ROFR.

Have you heard or seen them extending the right of recession deadlines?

 

[vacationtime1]

I had the same thought and asked about that specifically and his response was he doesn’t handle the ROFR.

Have you heard or seen them extending the right of recession deadlines?

Never. At minimum, I would get that in writing signed by someone in authority. But even then, I wouldn't sign a purchase contract now. Remember, they have already lied to you. Twice (or maybe 3x).

The deal you were offered will still be there in three months. You gain nothing by signing now.

 

[Tdawg33]

Never. At minimum, I would get that in writing signed by someone in authority.

But the deal you were offered will still be there in three months. You gain nothing by signing now, even with an extended rescission period.

I have the addendum in writing.

Addendum is entitled
ADDENDUM TO CONTRACT FOR PURCHASE
(Extension of Rescission) …until Nov. 18th and dated and signed for by the seller/Marriott.

 

[Dean]

I have the addendum in writing.

Addendum is entitled
ADDENDUM TO CONTRACT FOR PURCHASE
(Extension of Rescission) until Nov. 18th and dated and signed for by the seller/Marriott.

I wouldn't take the chance.

 

[TheTimeTraveler]

I have the addendum in writing.

Addendum is entitled
ADDENDUM TO CONTRACT FOR PURCHASE
(Extension of Rescission) …until Nov. 18th and dated and signed for by the seller/Marriott.

Why would you buy points from Marriott @ $17 per point (or there about) when you can buy them on the resale market for around $3 ?

You work hard for your money. Put your hands in your pocket and protect your assets! Rescind if you have already purchased.









.

 

[rickandcindy23]

Why would you buy points from Marriott @ $17 per point (or there about) when you can buy them on the resale market for around $3 ?

You work hard for your money. Put your hands in your pocket and protect your assets! Rescind if you have already purchased.









.

Isn't it $3 PP plus $3 to Marriott for "education" on using the points?

The MF's for those points is pretty high.

 

[Tdawg33]

Why would you buy points from Marriott @ $17 per point (or there about) when you can buy them on the resale market for around $3 ?

You work hard for your money. Put your hands in your pocket and protect your assets! Rescind if you have already purchased.









.

Agreed. With incentives of 6,000 plus points and a 2bdrm platinum exchange on interval as well as our costs reduced due to an encore package return from 2022 our costs would be close to $7/point

I have understood points on the resale market is a minimum of $7/point(with Marriott fees). That is why we are considering it.

 

[DRH90277]

So, what exagerrated value are they putting on the 6,000 plus points. Be careful - use about $1.00 per point in your deliberations. The Interval Platinum week offered is only as good as the reservation you can get from Interval.

Slow this down - the encore package credit will survive for a few weeks while you look hard at the deal. Their offers are dead after today they say. But, hold back and call them in 2 months and they will give you the encore credit - I know this because from ignoring their deadline for a recent transaction and the deal only got better.

 

[rickandcindy23]

Agreed. With incentives of 6,000 plus points and a 2bdrm platinum exchange on interval as well as our costs reduced due to an encore package return from 2022 our costs would be close to $7/point

I have understood points on the resale market is a minimum of $7/point(with Marriott fees). That is why we are considering it.

Not really. The bonus points are only ONCE.

 

[Tdawg33]

I am figuring a one time credit for the 6,000 bonus points at $0.81 = $4,860

 

[Dean]

I am figuring a one time credit for the 6,000 bonus points at $0.81 = $4,860

While they do have value, I would discount them significantly. Maybe to half that or close.

 

[Tdawg33]

So, what exagerrated value are they putting on the 6,000 plus points. Be careful - use about $1.00 per point in your deliberations. The Interval Platinum week offered is only as good as the reservation you can get from Interval.

Slow this down - the encore package credit will survive for a few weeks while you look hard at the deal. Their offers are dead after today they say. But, hold back and call them in 2 months and they will give you the encore credit - I know this because from ignoring their deadline for a recent transaction and the deal only got better.

We typically only use our deeded weeks for interval exchanges and trade often for 2bdrm in Hawaii. That is what we are using to take into our consideration for the value. I appreciate the comments and trying to make sure I am not missing anything from all of the gurus on this board.

 

[rickandcindy23]

How much total are you paying? For how many Abound points? What are the MF's?

 

[TolmiePeak]

Why would you buy points from Marriott @ $17 per point (or there about) when you can buy them on the resale market for around $3 ?

You work hard for your money. Put your hands in your pocket and protect your assets! Rescind if you have already purchased.
.

Exactly. And why even buy the points at all and pay 81 cents in maintenance fees when you can rent them for less.

 

[Tdawg33]

While they do have value, I would discount them significantly. Maybe to half that or close.

I hadn’t considered discounting them in half.