So How Do I Make Sure With Title Transfer...

[Southerngirl528]

Hello All!

As we go through the process of completing the resale purchase of a week at Maui Ocean Club, EOYE, the sellers have been kind enough to check availability for us for 2016. We are working through Samuel Rodriguez at Selling Timeshares and he has been most helpful. Here's my concern and questions:

2016 is FAST approaching and I am a tad anxious to get something that will work for us reserved as quickly as possible so I can work on those dreaded airfares (and they ain't lookin' too good right now from FL! LOL).

Should the current owners make the rez in our name? There's cost to put a guest name, yes?? If they do NOT put it in our names, will Marriott cancel the rez when the closing docs go through and the title transfers? I just need your expert advice folks to avoid pitfalls on this. Suggestions??

Thanks in advance to you all!

 

[Saintsfanfl]

There is no fee for a guest name but they cannot completely put the rez in your name. They can only add you as a guest in the footnotes. Reservations always remain in the owner's name. Even if they put you down as a guest the reservation can cancel upon transfer. This can happen when the new owner is supposed to get 2016 usage and there is already a 2016 reservation. Someone needs to make it very clear to the transfer department to not cancel the reservation. What they usually do instead is cancel and immediately rebook.

In either case, I would definitely have the existing owners make a reservation for you.

 

[Southerngirl528]

Thanks so much for that great info, Saintsfanfl!! I was afraid of those possibilities. It's just making me more than a little nervous that we are so close to 2016 and I have no rez's. I have to book at the moment the 13 month window opens to secure our current Napili EOYO 2 weeks for when we want in Maui!

Samuel has been incredibly good at responding back to all my questions and concerns so I am leaning on him to guide us through all this. AND I'm leaning on all of YOU to help me since this is our very first TS resale purchase. THANKS!!!

 

[suzannesimon]

Whenever I buy resale, the contract always reads if the current year usage conveys to the new owner or not. The title company then handles that with the resort upon transfer.

 

[Saintsfanfl]

Whenever I buy resale, the contract always reads if the current year usage conveys to the new owner or not. The title company then handles that with the resort upon transfer.

By default current year usage conveyed to a new owner according to Marriott means to actually cancel the previous owner's reservation. This then makes the reservation window open to a new owner. I shop at bargain prices so my "in-house" title companies are usually not concerned with existing reservations and many times will refuse to be involved. If you are dealing with a real and reputable broker they may handle the communication but you still need to communicate an existing reservation that needs to transfer (cancel and rebook). It is unlikely to ever happen by default.

 

[m61376]

Both purchases I had the previous owner make the reservation. For one I had to transfer it to me and the other they actually did it automatically.

Congrats on your purchase!

 

[suzannesimon]

That is something to remember when you want to sell a week. I've purchased a couple of weeks because they had good reservations already made for the following year. If I didn't use them, then I knew I could rent them.

 

[Southerngirl528]

Thanks to each of you for the details! Samuel Rodriguez is with Seth Nock's group and is handling our resale. He said our closing company has the reservation numbers and will coordinate with the resort. I'm really hoping so because airfare is pricey and unlikely to go down much if at all. It's good to hear, m61376, that you have had it work out for you.

 

[bruce.r.casper]

Regarding the reservation cancellation scenario. If you are existing Marriott owner, you need to include your number on the external packet form that the buyer initiates. This document is required by Marriott to put the property in your name. I would hope that the folks at Marriott would take note of this if the seller has booked a reservation for "next year" for you as the buyer. Ensure the reservation has your name as a guest.

 

[bruce.r.casper]

Check that "seller" initiates the external transfer form

 

[Southerngirl528]

Thanks for that information, Bruce. Yes, both my agent Samuel Rodriguez and the closing company worked hard to coordinate and make sure to include both our MVC member numbers on the title transfer paper. They also included the reservation numbers. Not sure if it makes any difference at all but when the owners made the rez they put my name on as guest.

The property closed last Friday and docs were sent to Marriott so I am hoping to hear that they have transferred title to us any day, and hopefully within a couple of days afterward we can get confirmation of the reservation transfer.

Thanks for that info again. Everyone here is always so helpful. Buying a resale is a brand new experience for me and I just wanted to get it right.