Vistana, Westin & Sheraton Deedback program

[Meadowlark]

oh crap! tnx for nothing

 

[Meadowlark]

Well I sent email and they will buy all my units - Thank God I am out of this crap

I assume that I will be able to recoup the 7% Hawaii tax as I have a huge loss

 

[dioxide45]

Well I sent email and they will buy all my units - Thank God I am out of this crap

I assume that I will be able to recoup the 7% Hawaii tax as I have a huge loss

Do you live in Hawaii? What tax are you referring to?

 

[vacationtime1]

Well I sent email and they will buy all my units - Thank God I am out of this crap

I assume that I will be able to recoup the 7% Hawaii tax as I have a huge loss

You will, but it's a rigamarole. Hawaii has almost made it into a gross receipts tax upon sale.

You need to complete Hawaii Dept of Taxation Form N-288B -- before the transfer takes place. Some of the transfer agents will do this form for you; Old Republic is one of them that will.

 

[ccy]

Got an offer from MVW to relinquish my 2/2 annual SVV unit. Really wish I could at least sell it for what
I paid for maintenance this year. I still have 2019/2020 untouched and expires this year.

 

[CPNY]

Got an offer from MVW to relinquish my 2/2 annual SVV unit. Really wish I could at least sell it for what
I paid for maintenance this year. I still have 2019/2020 untouched and expires this year.

Which phase and season in SVV? Maybe you can....

 

[KACTravels]

Got an offer from MVW to relinquish my 2/2 annual SVV unit. Really wish I could at least sell it for what
I paid for maintenance this year. I still have 2019/2020 untouched and expires this year.

Was this offer unsolicited??

 

[GetMeOutOfThisMess]

Just found this forum and want to say thanks for putting this information out there. I am helping my elderly parents deed back three units (2 in Westin Ka'annapali North, 1 at Princeville). We started the process and are doing FedEx for dealing with the paperwork. I don't think my parents would do well trying to sign electronically. I have a few questions:

1. How long does the process usually take to get the paperwork sent? They keep telling me 120 days to complete the process but up to 90 days to receive the paperwork. Does this seem normal?
2. My brother and I are also listed on the deed but are not in the same state as my parents. We are using a power of attorney due to Covid and travel and blah, blah blah. It has to happen this way for various reasons. Has anyone else used a POA for this and were their any issues?
3. Today we got an unsolicited offer from Timeshare Broker Services. The email had grammatical errors, misspellings and poor syntax. How would they have acquired my parents information? The only other company that I contacted prior to finding the Vistana exit team was Timeshare Exit Team (recommended by Dave Ramsey). Could someone at Vistana sold my parents information? Could there be some connections between Timeshare Broker Services and Timeshare Exit Team? It was very strange.
4. When I login to my parents Vistana account, the units are no longer listed. Am I to assume that this means the process is progressing even though I have not heard from Marriott for about a month or so?

Thanks for any help.

 

[vacationtime1]

Are you aware that each of these units has value -- a few thousand dollars each and possibly more depending on what they specifically own?

There are honest brokers who will sell them for you and take their commission out of escrow.

Where are you in the process?

 

[GetMeOutOfThisMess]

Are you aware that each of these units has value -- a few thousand dollars each and possibly more depending on what they specifically own?

There are honest brokers who will sell them and take their commission out of escrow.

Where are you in the process?

Yes, we have offers from Marriott Vacation Resorts or whatever it is called for a few thousand for each unit. We have already accepted the offers. I probably used the wrong wording in my original post. They are buying back the properties from us.

I am sure there are honest brokers but going through a process outside of the official company given familial concerns and issues would not be the best course of action. I want simple, straightforward and relatively quick.

 

[shorep]

Just found this forum and want to say thanks for putting this information out there. I am helping my elderly parents deed back three units (2 in Westin Ka'annapali North, 1 at Princeville). We started the process and are doing FedEx for dealing with the paperwork. I don't think my parents would do well trying to sign electronically. I have a few questions:

1. How long does the process usually take to get the paperwork sent? They keep telling me 120 days to complete the process but up to 90 days to receive the paperwork. Does this seem normal?
2. My brother and I are also listed on the deed but are not in the same state as my parents. We are using a power of attorney due to Covid and travel and blah, blah blah. It has to happen this way for various reasons. Has anyone else used a POA for this and were their any issues?
3. Today we got an unsolicited offer from Timeshare Broker Services. The email had grammatical errors, misspellings and poor syntax. How would they have acquired my parents information? The only other company that I contacted prior to finding the Vistana exit team was Timeshare Exit Team (recommended by Dave Ramsey). Could someone at Vistana sold my parents information? Could there be some connections between Timeshare Broker Services and Timeshare Exit Team? It was very strange.
4. When I login to my parents Vistana account, the units are no longer listed. Am I to assume that this means the process is progressing even though I have not heard from Marriott for about a month or so?

Thanks for any help.

Took us from August,first offer to end of October to final email confirming process complete, and when I signed onto Vistana during the process I could not access the dashboard system page, but they are efficient&polite.Never got my fedex postage back!!!!

 

[jmhpsu93]

Just found this forum and want to say thanks for putting this information out there. I am helping my elderly parents deed back three units (2 in Westin Ka'annapali North, 1 at Princeville). We started the process and are doing FedEx for dealing with the paperwork. I don't think my parents would do well trying to sign electronically. I have a few questions:

1. How long does the process usually take to get the paperwork sent? They keep telling me 120 days to complete the process but up to 90 days to receive the paperwork. Does this seem normal?
2. My brother and I are also listed on the deed but are not in the same state as my parents. We are using a power of attorney due to Covid and travel and blah, blah blah. It has to happen this way for various reasons. Has anyone else used a POA for this and were their any issues?
3. Today we got an unsolicited offer from Timeshare Broker Services. The email had grammatical errors, misspellings and poor syntax. How would they have acquired my parents information? The only other company that I contacted prior to finding the Vistana exit team was Timeshare Exit Team (recommended by Dave Ramsey). Could someone at Vistana sold my parents information? Could there be some connections between Timeshare Broker Services and Timeshare Exit Team? It was very strange.
4. When I login to my parents Vistana account, the units are no longer listed. Am I to assume that this means the process is progressing even though I have not heard from Marriott for about a month or so?

Thanks for any help.

Any timeshare exit service that contacts you likely got that information from Timeshare Exit Team. A lot of those scammers are the same people under different entities. While there is a remote possibility a disgruntled/dismissed employee sold your information I think it's much more likely your contact with TET.

While you might squeeze out a few more dollars through a reputable broker, you're probably making the right decision in doing it through Vistana.

 

[GetMeOutOfThisMess]

After much consideration, we are deeding back both our Princeville weeks. We have owned there since 2007 after foolishly buying from the developer.

We love the Princeville resort but our needs have changed, it does not rent well and the MF are very high at over $3,100. Covid has changed our outlook as well. We are retaining our WKOV OF Centers and Kierland Plat weeks as we use those more often, rent well, are mandatory resorts and have lower MF. We can always use Kierland options to visit Princeville for nearly any non holiday week.

What surprised me was that they offered us $6,500 for the annual week and half that for the EOY. That is more than you can sell them for in the open market, if you can sell them at all. It allows us to downsize our timeshare portfolio a bit. Each sellback has a $750 closing fee which is deducted from the sales price.

I asked what our other weeks were worth to deed back and wanted to share that info as well. I think these are way low.

WKOV OF Center-~$16,000
Kierland Plat 2 bedroom-~$4,000

The rep I dealt with was very pleasant and very knowledgeable. The deedback program is a separate Marriott division. They cannot see any usage info or reservations on their systems. You have 30 days to book your 2021 usage after you agree to the deed back and you cannot change usage dates, etc after the 30 day period. You also have to pay the 2021 MF prior to initiating the sellback process.

How has the process been for you? You posted this on December 31st. Has the process completed yet?

 

[ccy]

Which phase and season in SVV? Maybe you can....

Sorry been busy and just saw this. It's week 8 in the Bella Phase.
I have already agreed to relinquish my ownership.

 

[CPNY]

Sorry been busy and just saw this. It's week 8 in the Bella Phase.
I have already agreed to relinquish my ownership.

How many SO comes with that? If it’s platinum you may want to rethink that relinquish

 

[Eric B]

How many SO comes with that? If it’s platinum you may want to rethink that relinquish

@ccy; that one is a prime/platinum week and would get either 81,000 (if a standard 2 BR) or 95,700 (if a 2 BR LO). Because it's a mandatory one, you could likely get something for it by selling it or make a fellow tugger happy by passing it along rather than just giving it back to MVW.

 

[dioxide45]

@ccy; that one is a prime/platinum week and would get either 81,000 (if a standard 2 BR) or 95,700 (if a 2 BR LO). Because it's a mandatory one, you could likely get something for it by selling it or make a fellow tugger happy by passing it along rather than just giving it back to MVW.

Yup, now it will just be dumped into the Sheraton Fiex Trust and convert to voluntary.

 

[CPNY]

This is why I wish everyone knew about tug. Seller could have had a buyer quick and made over 1000

 

[CPNY]

Got an offer from MVW to relinquish my 2/2 annual SVV unit. Really wish I could at least sell it for what
I paid for maintenance this year. I still have 2019/2020 untouched and expires this year.

You may be able to back out see if it’s too late

 

[dioxide45]

You may be able to back out see if it’s too late

Yup, unless a contract is signed, it isn't a done deal.

 

[Apache49]

Just started the deed back process to MVW, they take back my Vistana Cascades 2 bed from 2022. The Staroptions I banked with Vistana last year have to be used by end of this year, 2021. I have already banked this years weeks with RCI.
i have been told completion is 90 - 120 days. At the moment they are asking for notarisation at US Embassy London which is 200 miles away so hoping I can switch to a local notary.

 

[Mauiwmn]

How has the process been for you? You posted this on December 31st. Has the process completed yet?

I checked last week and paperwork is moving along. I was advised I will have paperwork to sign sometime in early April.
Very happy to have moved ahead with selling these 2 weeks, never looked back especially given Kauai’s stricker quarantine rules.

 

[robertk2012]

Ill take it....

Sorry been busy and just saw this. It's week 8 in the Bella Phase.
I have already agreed to relinquish my ownership.

 

[maggiesmom]

Vistana is definitely dragging their feet on taking my Vistana Resort, Orlando back.
Start the process on Dec29,2020.
Still waiting for their people in title department to send me paperwork to sign off.
Come March 29,2021 will be 90 days.
I want to wrap this up and be done with it.

 

[shorep]

Just started the deed back process to MVW, they take back my Vistana Cascades 2 bed from 2022. The Staroptions I banked with Vistana last year have to be used by end of this year, 2021. I have already banked this years weeks with RCI.
i have been told completion is 90 - 120 days. At the moment they are asking for notarisation at US Embassy London which is 200 miles away so hoping I can switch to a local notary.

We found a local notary in Reading as the US embassy in London told us they were only addressing visa work due to covid and staff issues.Any bank should have a notary, but look online and find someone local to you,they will ask for the documents to peruse then see you a few days later, staff in the office will be the witness group, and send it back Fedex to Littleton CO,costs £50,bargain,notary will charge £80.(which is cheaper than US embassy would have done).Good luck, feel free to fire questions.