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Re: Want to sell, will wait for fair price (by Phil L.):

kathyk117 wrote:

I really like Phil's idea. I would advertise in the Denver paper (we live 60 miles north of Denver) or Redweek.com, or even TUG2? Play up the rent to buy option, I assume and see what happens? Any suggestions or cautions other than appropriate price and trying to find the right renter/buyer? I talked to Marriott again yesterday and they re-market the resales just as they do all the unts in their sales talk. When it sells for $14,900, they give me $8000 and pay all the fees. Said that timing is unknown and said chances are "fair" that it will sell during the next winter ski season. NO promises, which at least sounded honest. I will wait to get final suggestions from Phil and proceed ahead. Kathy

Kathy I am no expert on Marriott and ROFR. We thought about buying Marriott in Maui few years ago and also Lake Tahoe but after hearing prices we went back up the hill and bought the timeshare we owned years earlier Ridge Tahoe for a lot less money.

I don't know what amount you would be happy with but if Marriott sells and they state $14900 and you get $8000 after cost if I read your post right.

If you want to wait and let Marriott sell you wouldn't need to do anything but wait and for many this is good.

We have resale at the Ridge Tahoe and even though they take out more the job gets done and I wasted no time myself dealing with people.

I would recommend letting them sell it and when we sell one of our Ridge Tahoe units I probabaly would use resales dept too unless someone told me they would like my timeshare first.

Now after saying this if you want money now and want to deal with selling then run ad to rent with option to buy.

I would recommend forgetting the numbers Marriott threw out there and decide your bottom line.

If you decide $5000 and you are out of it then try and rent with option to buy with rental fee coming off price as down payment. If you rented it for $1000 then your buyer would owe you another $4000 to buy your unit. Plus they pay all closing fee's and if used this year they normally would also pay you for the Mf but this is something between you and buyer.

Kathy just make sure you write in rental contract that no matter what happens on possible sale this $1000 is the rental fee for the week rented only!

Just be upfront with the people renting that if there offer gets past ROFR you will sell to them for total amount of $5000 with the down payment being the rental fee.

This is a no lose for you if your renter buys because you would get your total $5000 but if Marroitt takes it you get $5000 plus your $1000 rental fee! Bet you never thought about that.

The reason I say to have a price your happy with because the bottom line is the people will get your unit or Marriott will and you will be out from under it.

If Marriott feels it will sell by this year for $14000 I would think they would stop your sale and they would do ROFR on you anyway for this unit.

The reason I said I would use our resales first is we used Redweek rental site last year for July 4th week and not one hit and again this year with not one hit. Last year and this year we will use it if not rented.

I broke up our other unit and traded for Maui 2008 and had the Ridge rent this week 2/22--2/29 for the lock-off and all but next thru has been rented. Ridge did more with my studio than Redweek ad had done in two years.

Botton line is price is everything then location and season. If you really want $8000 think about letting Marriott sell it first!

Good Luck! PHIL