20 Replies Latest reply: May 31, 2016 7:45 PM by mikiegfla RSS

Has anyone attempted to sell a MVCI Timeshare? Thoughts and results if you have?

lifeisgood15 Silver
Currently Being Moderated

We are considering selling our MVCI Timeshare in Arizona but it seems to us that the process is very unfriendly. No room for negotiation, very low return on our investment at the amount offered and no help from the corporate MVCI office. The "Customer Advocacy Manager" told us that the repurchase is not a buyback program, but an offer for us to get out of a contract of continued payments of maintenance fees on our property. WOW. The offer to buyback our week was at just 25% of the purchase price. Not exactly what the sales pitch offered. Has anyone sold back to Marriott or an outside party? Did Marriott invoke their right of first refusal if you did try to sell outside?

 

We were told the repurchase price is preset with no room for negotiation. I even tried asking for Rewards Points instead of dollars to make the event more palatable nut was told that isn't possible?

 

We love using Marriott. Stayed in Marriott's in London and Grand Cayman in the last 12 months. Just looking for an equitable way to dispose of the timeshare in Arizona that we really don't use and still be a loyal Marriott customer.

 

Thanks in advance for any feedback you might have.

(For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: Has anyone attempted to sell a MVCI Timeshare? Thoughts and results if you have?
    w_w_w Platinum
    Currently Being Moderated

    In addition to selling through Marriott Vacation Club, there are are other ways to sell an MVCI timeshare week. There are real estate brokers who specialize in timeshares. Good brokers charge a percentage (such as 10%), not upfront fees of any kind. They should know all about ROFR levels for various MVCI weeks (although this is more significant for the buyer than for the seller).

     

    The key is NEVER to use a company that charges an upfront fee. A broker's financial incentive should be to successfully sell a week, not to pocket as many upfront fees as possible.

     

    Some sellers use direct selling, such as listing on eBay. Personally, I would be wary of doing so, but it seems to work for people know how to avoid problems.

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: Has anyone attempted to sell a MVCI Timeshare? Thoughts and results if you have?
    kharada46 Alumni Steward Gold 10 Reviews
    Currently Being Moderated

    I jus told my Disney Vacation Club timeshare through a Florida based company called The Timeshare Store.  They specialize in Disney, but are able to sell others too.  The whole process was quick and painless. 

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: Has anyone attempted to sell a MVCI Timeshare? Thoughts and results if you have?
    homoviator Platinum
    Currently Being Moderated

    Generally getting any money out of timeshares is complicated.  Depending on the week and place, you can find ones that are sold on eBay for less than $100.  The main reason is that a lot of the maintenance fees alone can equal the cost of a nearly week to stay at the condo if you can negotiate well. And maintenance fees-,which as far as I can tell go, on forever and aren't known to ever go down. I hope kharada46 got a great deal and that DVC is an exception to this rule.    I'd say if you got 25% back, I'd think of it as a win, especially if you can sell in the moment.  Frankly, I don't think I came across any stories where anybody has ever sold their timeshare for more than they paid.  I haven't looked in a while but there was a time when I was looking mostly out of curiosity but also a bit of intrigue trying to figure out of Marriott points program somehow meant that you didn't have to pay a maintenance fee.  If I have something incorrect here, I'd love to hear otherwise. I'm here to learn.

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: Has anyone attempted to sell a MVCI Timeshare? Thoughts and results if you have?
    johnir Gold
    Currently Being Moderated

    I would log on to www.tug2.net and register. (for free)  You can ask any question about timeshare that you want.  The members are very helpful about values, options, and advice.  You can list your timeshare on Tug but you need to join to do that.  Registration is free.  Joining is a measly $15.00.  They will tell you what your timeshare is worth.  You can also check out auctions on ebay, or other listing sites.  Many listing sites are only that - listing sites.  And many units are priced unrealistically.  Ebay has a listing of "completed auctions" where you can see what things actually sold for.

     

    There are also timeshare brokers (ask Tug) who will guide you through the sales process and help you with realistic asking prices.  Getting something above Marriott's offer may be difficult.  Marriott can also broker your sale.  Only problem is they charge a 40% commission.  (Yikes!)

     

    Unfortunately, your investment has paid off in photographs and memories.  Timeshares depreciate faster than cars.  That is something that the sales guys/girls conveniently pass over in the presentation.  Good luck

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: Has anyone attempted to sell a MVCI Timeshare? Thoughts and results if you have?
    maddashin Gold 1 Reviews
    Currently Being Moderated

    Marriott Vacation Club is not an investment.  There is no promise of any great return when you purchase.  I really don't know why people do not understand this when they purchase.  It is not a condo.  It is not real estate.  It is a vacation club.

     

    The key that I have found is that you have to know how to use the Vacation Club.  I have maximized my vacation club and I have been all over the world for far less than I would have if I did not own a vacation club. 

     

    One does not make profits on vacation clubs.

     

    I have also earned tons of Marriott Rewards points and feel I have gotten a good deal.

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

    • Re: Has anyone attempted to sell a MVCI Timeshare? Thoughts and results if you have?
      clebert Platinum 21 Reviews
      Currently Being Moderated

      maddashin, you definitely have the right attitude about timeshares.  But just for clarity, many of the MVCI interests are technically a deeded interest in real estate.  MVCI points are a deeded interest in Orange County, Florida as part of the land trust.  Other properties also often have a deeded interest.  Some do not, such as Aruba where the government only allows a long-term lease.  I mention this as those who own timeshares should be careful to make sure the deed is titled appropriately.  I put my MVCI beneficial interests in a revocable living trust to avoid the potential need for probate to transfer them if Spouse and I both died.  Just something to consider as probate for an investment that's probably only worth a few thousand dollars can be a huge headache and expense.  I have clients who learned this the hard way.  Once, one of my clients had to pay a lawyer in Hawaii about $25,000 to probate a timeshare deeded in Hawaii that was worth about $10,000.  You get the picture!

      (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

      • Re: Has anyone attempted to sell a MVCI Timeshare? Thoughts and results if you have?
        maddashin Gold 1 Reviews
        Currently Being Moderated

        While I have you on the phone.....I am getting up there in age and need to make sure that my timeshare goes to my son.  I really have not researched the easiest way to get it to him.  If I were to leave it to the grand kids it would not be worth anything.  Therefore, I would rather just pass it on to someone in the family.

         

        I own a week with a lock off in Ft. Lauderdale. 

         

        I have destination points that are not paid for yet.  How do I pass them along.....what if not completely paid for if I die.  I have to read all the fine print. 

         

        Decluttering all the **** I have accumulated in this house as we speak to get out of a house that has far too much junk!  LOL.

        (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

        • Re: Has anyone attempted to sell a MVCI Timeshare? Thoughts and results if you have?
          clebert Platinum 21 Reviews
          Currently Being Moderated

          If it's a deeded interest, you can will it to your son in your will, or you can add him to the deed.  Florida doesn't have transfer on death deeds, so you can't use one of those.  Destination points might be beneficial interests in the Marriott land trust depending on how you got them and whether title passes after payment on the contract or not.  Contact your sales rep to find out.  For Ft. Lauderdale, not sure if that's a deeded interest.  Would depend on terms when you bought.  If you do a property search in Orange County for the land trust under your name, you might actually be able to find the deed if there was one recorded.  I imagine Broward County would work the same if the Ft. L property is a deeded interest.

           

          We are decluttering here too as part of a home improvement project, and I know just what you mean!

          (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: Has anyone attempted to sell a MVCI Timeshare? Thoughts and results if you have?
    coupons Gold
    Currently Being Moderated

    Several thoughts:

    • you should be able to get more money selling on your own
    • there are several Facebook pages dedicated to owners of MVCI; you can post your property there (I can provide the URLs if the moderators would allow
    • As stated above, there are real estate brokers who help owners to sell their TS
    • Many people rent out their units to cover their maintenance (again can be done on FB pages)
    • FYI-I purchased full price in '08 Aruba SC; last year on the resale market I paid a third of what the first TS cost
    • Marriott will not provide you with an equitable sale price (it does not exist); you will not recoup your investment
    • another way of looking at this is to add in the maintenance for each year of ownership to your initial investment and divide the sum by the number of times you have used the TS; that would be your yearly cost; perhaps that would give you an idea of the value to you.

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: Has anyone attempted to sell a MVCI Timeshare? Thoughts and results if you have?
    taxman193 Platinum 11 Reviews
    Currently Being Moderated

    Try using Redweek. I purchased two separate weeks in Aruba on this site and I use it rent my weeks when I don't use them. It is a cheap and effective site where you can sell, rent out, or purchase and rent a week. I like it and continue to use it.If I was going to sell one of my weeks, I would use this site.

     

    Note, I would not expect to recoup your full purchase price or even close to what you paid. For example, if I were to fo through Marriott direct which still sells deeded property in Aruba, it would have cost about $25,000 plus. I purchased my weeks on Redweek for $3,000. For me, this was a great purchase and I don't mind paying the maintenance fee for a week at this beautiful resport in Aruba. Good luck !

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

    • Re: Has anyone attempted to sell a MVCI Timeshare? Thoughts and results if you have?
      clebert Platinum 21 Reviews
      Currently Being Moderated

      taxman193, I agree re maintenance fees.  Ours are about $1800/yr., but it would cost about $500-600 a night to stay at one of the timeshares we typically use during busy season if we were paying cash.  So it's not a bad deal.  But honestly the real reason we bought was to force us to take at least one big vacation as a family each year, and so far it's worked really well for that purpose.

      (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

    • Re: Has anyone attempted to sell a MVCI Timeshare? Thoughts and results if you have?
      mikiegfla Platinum 4 Reviews
      Currently Being Moderated

      Just like Taxman, I purchased my week in St Thomas from a distressed third party during the deepest throes of the recession and paid $2,500.

       

      And I agree with clebert, it does force us to take a week's vacation each year where we normally wouldn't have.

      (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

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