When to sell when I have a unit on deposit with ongoing search?

[buzzy]

I keep saying this every year although the maintenance fee increase this year has me seriously considering selling our unit. I currently have a 2 bedroom unit on deposit and requested searches for this summer. Our maintenance fees are due (ouch, did they go up!) so I was wondering if I wanted to sell, how I plan the timing where I receive the trade that is due? I am assuming right after we travel this summer?

 

[davidvel]

Pretty sure once unit is deposited in II its yours. Sell away.

 

[presley]

I agree with davidvel. Just let the buyer know you've already deposited the week and you plan on keeping it for an exchange. You are free to sell your timeshare immediately if you've already deposited.

 

[Saintsfanfl]

Ditto. The deposit in II has nothing to do with the future or even the current ownership of the timeshare. The first year of use must be stated in the purchase agreement so that would be the first year that you have not yet used or any year thereafter that you both agree. You don't have to wait until you use an exchange in order to sell.

 

[buzzy]

Thank you so much! But should we USE the deposit first? (AKA, take the vacation) In other words, does it matter if we actually use the deposit to travel this summer since I paid the maintenance fees already and then sell after we traveled?

 

[dioxide45]

No need to use it first, unless perhaps you have an enrolled DC account. If you have an individual II account, Marriott won't notify II that you have sold. You can even keep your II account active and still buy getaways.

As long as the week is deposited, you have no worries. Just sell your week with a 2018 first usage.

 

[buzzy]

No need to use it first, unless perhaps you have an enrolled DC account. If you have an individual II account, Marriott won't notify II that you have sold. You can even keep your II account active and still buy getaways.

As long as the week is deposited, you have no worries. Just sell your week with a 2018 first usage.

Thanks! But I can use it to travel if I receive an exchange? Since it doesn't seem like it will change the sellable value, I am thinking we should use it to travel this summer and then sell it (if we receive the exchange)

 

[dioxide45]

Had 2017 still been available, the value might have been less. The buyer would have had to reimburse 2017 fees, so they may have adjusted their offer down.

You can sell it now or you can cell it later. Just indicate usage for the buyer starts in 2018. You can then confirm your exchange for any time before the deposit expires as long as you keep your II account active.

 

[JIMinNC]

Thanks! But I can use it to travel if I receive an exchange? Since it doesn't seem like it will change the sellable value, I am thinking we should use it to travel this summer and then sell it (if we receive the exchange)

As others have said, no need to wait until you use your deposit to sell. Since you say you've already deposited the 2017 week with II (meaning you did a deposit first transaction), just pay your 2017 maintenance fee, and then list the unit for sale, stating that the buyer's first year of usage will be 2018. By doing that, the 2017 usage rights remain yours until the deposit expiration date, even if you close on a sale before your exchange is matched or before you actually travel. You will NOT lose your 2017 usage rights, even if you sell your week before you travel using your previously deposited 2017 deposit.

We sold a timeshare in another non-Marriott system two years ago, but we still haven't used our 2014 week deposit which was already on deposit with RCI. We had to pay a fee to RCI to extend the deposit expiration date from 2016 to 2018 (so we could find a date to use the week), but we still have the right to travel on that deposit even though we actually sold the week in late 2014. I'm almost positive II works in a similar manner.

 

[buzzy]

Got it, thank you everyone!

 

[buzzy]

So I just received this from Marriott about my sale inquiry. They mention that I would need to pay my 2018 maintenance fees. Does this make sense ? I have an odd year EOY usage. Good deal , bad deal ? The only concern is the fact that I owe 2017 fees and now I owe the 2018. (Close to $3,000)


Good day,


We are happy to assist with your request to sell. Below you will find the options available for your inventory type. Please review and respond with how you would like to proceed. Your desired timeframe for sale will often determine which option will work best for you.


Brokerage Listing Program


Marriott Vacation Club assists with procuring a purchaser and then brokers the transaction.Inventory is sold at the current list price. At closing, commission, marketing and administrative costs are deducted and you will receive 60%* of the sale price. For this option, the timeframe to sell varies based on market demand.


The current list price for your inventory type is:


Inventory Number @@@@@@ $7,800, after commission, the approximate net is $4,680*



At this time, we are accepting listings for your inventory type with first year usage 2019; therefore, you will retain your 2017 usage and you would be responsible for the 2017 and 2018 maintenance fee payment. If you would like to proceed with listing your ownership for sale, please respond within the next 7 business days. After that, we cannot guarantee that the offer to list will be available.



Sell on the Open Market


This option affords you the opportunity to set your own price and to begin the resale process at any time. A helpful website iswww.licensedtimeshareresalebrokers.org. This is a group of Brokers who do not charge any upfront fees. Once you log in, to narrow your search, click on the Member Directory tab, then you can search by using key words “Marriott” or your specific resort.

Best regards,

 

[JIMinNC]

So I just received this from Marriott about my sale inquiry. They mention that I would need to pay my 2018 maintenance fees. Does this make sense ? I have an odd year EOY usage. Good deal , bad deal ? The only concern is the fact that I owe 2017 fees and now I owe the 2018. (Close to $3,000)

Yes, it makes sense. With an EOY ownership, you only pay half of the maintenance fee each year. So for your 2017 usage, you pay half in 2017 and the other half in 2018. So if you retain the 2017 usage rights, then you have to pay in both 2017 and 2018 to fully cover that usage.

 

[buzzy]

Yes.. yes.. forgot the bill is cut in 1/2. The price Marriott is offering is 1/2 of what we paid which to me is better than I thought. (Resale )
Thanks so much !

 

[davidvel]

Since you pay 1/2 in 2017 and 1/2 in 2018 for a year's usage, how can it be $3000? I've never heard of a timeshare with MF that high?

 

[buzzy]

It is 1/2 that.. I forgot that the bill is split in 1/2 with the EOY usage

 

[elleny76]

And here I am thinking in buying Marriot but holding into 2017. Just curious if you don't mind what kind of TS you have? LO? florida? what is the maintenance fee per year? thanks

 

[buzzy]

I don't know if I'm allowed to say because I don't want this to look like an ad, but the maintenance fees have increased quite dramatically and yes it is in Florida. The 1500 is an exaggeration I just don't have the exact amount with me . I just think that the maintenance fees make me nervous long-term and it is difficult getting a trade more so than it used to be. Plus our situation with our family has changed and kids are in college which makes our travel needs different .

 

[buzzy]

I don't know if I'm allowed to say because I don't want this to look like an ad, but the maintenance fees have increased quite dramatically and yes it is in Florida. The 1500 is an exaggeration I just don't have the exact amount with me . I just think that the maintenance fees make me nervous long-term and it is difficult getting a trade more so than it used to be. Plus our situation with our family has changed and kids are in college which makes our travel needs different .

I looked up my maintenance fees. It was not an exaggeration...it is $1,528.00.