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repurchase
- Thread starter jercal10
- Start date
- Joined
- Aug 2, 2006
- Messages
- 7,271
- Reaction score
- 320
- Location
- NY
- Resorts Owned
- Marriott Aruba Surf Club 2 & 3BRs
IF he bought a high demand unit at pre-construction prices, there is a small chance that Marriott will buy back the unit for at or close to what he paid. However, that is a big "if."
Marriott will act as a resale agent, but they have to want your week and have a market for it. Thus, except for a few very high demand weeks, there can be a wait list to get on the sales list for several years and, if you eventually move up to the top of the wait list, they will contact you to resell your unit. They charge a 40% commission of current selling prices.
On the resale market the value can fluctuate, depending upon the week in question. Very high demand weeks tend to resell for as high as about a third off current developer prices (Platinum ski weeks, Platinum Aruba weeks, Hawaii weeks with good views, some premium holiday weeks), while most sell in the 40-50% off range. Less desirable weeks sell for even a better discount and, with the economy being what it is, there have been some great resale prices lately with many passing ROFR.
Unless he really has a high demand week and bought really early on "we'll buy back for what you paid" is a dream.
Marriott will act as a resale agent, but they have to want your week and have a market for it. Thus, except for a few very high demand weeks, there can be a wait list to get on the sales list for several years and, if you eventually move up to the top of the wait list, they will contact you to resell your unit. They charge a 40% commission of current selling prices.
On the resale market the value can fluctuate, depending upon the week in question. Very high demand weeks tend to resell for as high as about a third off current developer prices (Platinum ski weeks, Platinum Aruba weeks, Hawaii weeks with good views, some premium holiday weeks), while most sell in the 40-50% off range. Less desirable weeks sell for even a better discount and, with the economy being what it is, there have been some great resale prices lately with many passing ROFR.
Unless he really has a high demand week and bought really early on "we'll buy back for what you paid" is a dream.
It depends on what he bought and when he bought it. As I posted earlier if we were to sell our MMC platinum week through Marriott resales we would get our original investment back after Marriott deducts their 40% commission. However we bought our unit in 1994 so have held it for 14 years. So it is possible. He needs to get more specific information from Marriott resales. Will they accept it to resel?. Do they have a waiting list of owners who want to resell or can he list it immediately? What are the units in his season and view (if that plays into the pricing) going for through Marriott and what would his net be.? Sounds like he did not ask specific enough questions if he spoke to the resales dept. he needs to call back and ask the above questions.