Using marriott as a closing company ?

[beanie]

has anyone ever done this ? can it be done ? I have someone interested in my marriott week and they said we could use marriott as the closing company . is this true ?

 

[chuckles]

I recently asked a Marriott rep about providing the financing and closing for a purchase from a private individual. She seemed to think that the seller could ask Marriott to handle the resale, but someone (buyer, I'm guessing) would pay the salesperson the difference between the resale price and 90% of the developer's price for the same week. That would also provide trade-for-points privileges, etc.

I can see benefits associated with this, but it wasn't a good fit for me.

If you find out that I was mis-informed, please let me know, as I'm currently working on a deal through another closing company.

 

[mkrumpe]

First post since signing up with TUG BBS and paying my $15.

I am very interested in this question - is it possible to use Marriott as the closing company and retain the Marriott points privileged as with buying with them direct? For example, I have found 1 - 2 private sale Marriott properties and was wondering if I could talk to the Marriott rep about the listing, if it would be possible for him to broker the deal. Much like if I were to buy a house For Sale By Owner, but still bring in my own Real Estate Agent and pay them their fees.

Thanks to every and anyone who has posted on this board - it is a HUGE help!

 

[FlyerBobcat]

This doesn't seem possible to me. You wanna' buy at resales prices (~50 to 90% off Marriott prices), but you want the Marriott perks. Why would Marriott do that??

First post since signing up with TUG BBS and paying my $15.

I am very interested in this question - is it possible to use Marriott as the closing company and retain the Marriott points privileged as with buying with them direct? For example, I have found 1 - 2 private sale Marriott properties and was wondering if I could talk to the Marriott rep about the listing, if it would be possible for him to broker the deal. Much like if I were to buy a house For Sale By Owner, but still bring in my own Real Estate Agent and pay them their fees.

Thanks to every and anyone who has posted on this board - it is a HUGE help!

 

[mkrumpe]

I realize that they would probably charge more for the property and I would be willing to pay a little more if it made sense. Thinking maybe their resale department can broker the transaction. If it only increased the priced by 10 - 15% I would do it with the peace of mind that they will be handling the entire deal. This is my first timeshare purchase and want to be sure that someone is handling the ins and outs of the deal.

 

[FlyerBobcat]

I realize that they would probably charge more for the property and I would be willing to pay a little more if it made sense.....

Forgot to say: Welcome to TUG!!!! You made a good choice....

We'll see what others have to say here. As another data point, if you are able to "sign up" with Marriott for them to sell your unit, they take a 40% cut!! That's really not "small change", IMO.

 

[m61376]

I realize that they would probably charge more for the property and I would be willing to pay a little more if it made sense. Thinking maybe their resale department can broker the transaction. If it only increased the priced by 10 - 15% I would do it with the peace of mind that they will be handling the entire deal. This is my first timeshare purchase and want to be sure that someone is handling the ins and outs of the deal.

Welcome to Tug

I would be very surprised if they did this for merely a 10 or 15% surcharge. As far as I have ever heard, if you buy from Marriott you buy at their developer pricing and if it is a resale unit they keep 40% off the top as their commission, so the seller gets 60%.

If you really want the ability to trade for points, you'll likely have to pay the price, but you can always call a salesperson and ask. If you want a name/number to call, just ask here and I'm sure you'll get a few private messages with references.

If your main concern is more of a logistical one, read the sticky n how to buy and sell timeshares and then feel free to ask questions. If you do your due diligence and check out that the property is as advertised (you can start with a simple phone call with the unit/week information and ask Marriott Owner Services), get an Estoppel letter (so you know the MF's are up to date and that there are no outstanding loans) and use an Escrow agent (and people here can help with recommendations) the transaction should be relatively painless.

Since you are new to posting, if you haven't been around awhile reading posts it is a good idea to do so before making a purchase. If you are confident that you are on the right track and want feedback as to pricing, purchase advice, etc., feel free to ask.

 

[TSResalez]

If you use MVCI, the buyer has to pay full price for the unit and the only benefit is a 25% commission as opposed to 40%.

I read another post saying marriott is changing around they way they handle their resale industry.

 

[Eric]

Kinda like asking Macy's give you a refund for a Sears purchase. There in the same line of work, why not ? Hmmm.. me thinks it won't work

I realize that they would probably charge more for the property and I would be willing to pay a little more if it made sense. Thinking maybe their resale department can broker the transaction. If it only increased the priced by 10 - 15% I would do it with the peace of mind that they will be handling the entire deal. This is my first timeshare purchase and want to be sure that someone is handling the ins and outs of the deal.