Selling Marriott time shares

Forum: Marriott's Ko Olina Beach Club

page 1 of 1

«  prev page    next page  »

Message Author

By Robert J.

Selling Marriott time shares

I own a Marriott time share in Hawaii, could some one provide me with the steps necessary to sale the week? I mean how do I deal with Mariott and their "right of first refusal", whom to contact in the marriott corporate structure, dealing with the Hawaii HAPTA tax, handling the deed in Hawaii, etc.

Last edit by robertj51 on May 09, 2008 06:05 PM.

Avatar for Robert J. Robert J.

10 years ago
May 07, 2008

By Denny C.

Selling Marriott time shares

robertj51 wrote:
I own a Marriott time share in Hawaii, could some one provide me with the steps necessary to sale the week? I mean how do I deal with Mariott and their "right of first refusal", whom to contact in the marriott corporate structure, dealing with the Hawaii HAPTA tax, handling the deed in Hawaii, etc.
If you are selling it yourself, I would go to the Redweek link on "how to sell your timeshare". It explains it pretty well. But basically, once you have a buyer, you should find a reputalble Escrow agent. Again, Redweek has a link with First American Title. For a fee, the title company contacts Marriott about the right of first refusal and assuming Marriott passes, they handle the deed transfers and fund dispursments. I'm not associated with any title company, Redweek just happens to have the link & info set up.

Avatar for Denny C. Denny C.

10 years ago
Jun 12, 2008

By Linda S.

What does it means, "right of first refusal"? Can Marriott block the sale after all the efforts of finding a purchaser? Can someone explain this to me since we are interested in buying a resale.

Avatar for Linda S. Linda S.

9 years ago
Feb 02, 2009

By Greg L.

lindas595 wrote:
What does it means, "right of first refusal"? Can Marriott block the sale after all the efforts of finding a purchaser? Can someone explain this to me since we are interested in buying a resale.

Best answer is yes they can. They reserve the right to buy back your week before it can be sold publicly. I don't think this would happen unless the resorts units/weeks were sold out and demand remained high. We are currently selling our week and Marriott told us that it would be 2011 before they would entertain buying units back and again based on demand. I don't think you will have an issue.

Avatar for Greg L. Greg L.

9 years ago
Feb 12, 2009

By Katie R.

Just beware...if you sell your Marriott week through someone other than Marriott, the buyers cannot trade their week for reward points or use the rewards system.

Avatar for Katie R. Katie R.

9 years ago
Mar 27, 2009

By Kari K.

Yes, Marriott has the right to buy it back but these days, unless the sale is WAY BELOW value, they won't buy it back. If a Seller finds a Buyer and has a sale price of 500.00 then it is likely that Marriott will offer 600.00. They would not want to devalue their project with underpriced sales. So keep the price fair market and they likely will not exercise their right because they have too many units to deal with from people walking away.

Avatar for Kari K. Kari K.

9 years ago
Jun 04, 2009

By David H.

karik27 wrote:
Yes, Marriott has the right to buy it back but these days, unless the sale is WAY BELOW value, they won't buy it back. If a Seller finds a Buyer and has a sale price of 500.00 then it is likely that Marriott will offer 600.00. They would not want to devalue their project with underpriced sales. So keep the price fair market and they likely will not exercise their right because they have too many units to deal with from people walking away.

When Marriott exercises their Right of First Refusal, they do so until the terms of the original agreement. So in this example, they would purchase the week at $500.

The advice from most people is to negotiate the lowest price without regard to ROFR. Marriott is essentially not exercising ROFR at this time.

Avatar for David H. David H.

9 years ago
Sep 12, 2009

By Thomas N.

I am under the impression from Marriott that when someone buys a resale from someone other than Marriott, the ability to trade the property through Interval International is greatly reduced because II marks the property as a resale and gives Marriott purchased owners first priority. Also, I was told that a resale owner that uses their property at their home resort will be assigned the worst possible room location. Does anyone know if these policies are true?

Avatar for Thomas N. Thomas N.

8 years ago
Feb 23, 2010

By Ryan K.

thomasn15 wrote:
I am under the impression from Marriott that when someone buys a resale from someone other than Marriott, the ability to trade the property through Interval International is greatly reduced because II marks the property as a resale and gives Marriott purchased owners first priority. Also, I was told that a resale owner that uses their property at their home resort will be assigned the worst possible room location. Does anyone know if these policies are true?

We are thinking of purchasing a resale timeshare and had similar concerns, I'd love to know if anyone has had this experience.

Avatar for Ryan K. Ryan K.

8 years ago
Feb 23, 2010

By Douglas M.

I think that if I where Marriott and had two owners requesting a timeshare week, one a full price owner purchased from Marriott and the other a second owner that pruchased a unit at a discount, I would give the better unit to the full price owner.

Interval has a 20 or 21 day hold on Marriott properties when they are deposited so they can give them to other Marriott owners before they release them to other non Marriott owner. My guess is if you don't pay full price to Marriott for your timeshare they will exclude you from the 20-21 day hold period.

Avatar for Douglas M. Douglas M.

7 years ago
Oct 03, 2011

By Robert S.

I have just been through the sale of a timeshare listed on red week (I have 3 or them) and listed Westgate, branson for $250. Be sure to have a qualified and trusted transfer agent to do this transfer. Westgate decided they would excerecise their right of 1st refusal, Only problem, this is a 30 day window and westgate pre-dated the letter, change the postage meter date, however, their reply was 15 days late beond the 30 day window. I did not westgate to have this property back since I had a very good friend that I had sold this property. without more detail, the BBB in Florida was very responsive in reviewing this complaint. However, when I made 4 phone calls to corporate office one day on their 800 number, westgate advised they would e mail their letter of REFUSAL to the transfer agent in order to complete the sale. Forget writing letters to attorney generals office, they only send out a form letter. calling on their 800 no. and waiting for 1/2 hour or longer, westgate finally decided to complete the transaction MY WAY. .

Avatar for Robert S. Robert S.

7 years ago
Oct 04, 2011

By Deborah M.

With Redweek, are sellers reimbursed through escrow from the buyers for the maintenance fees paid for every other year usage with Marriott? In other words, will the maintenance fees that I paid for 2011 and 2012 for the every other even year usage be credited to me from the buyer at the close of escrow?

Avatar for Deborah M. Deborah M.

7 years ago
Dec 17, 2011

By Nancy W.

We own Marriott on Maui. We have an "offer" from Marriott to sell it back to them. I think they will buy it from us if someone else contacts them. It seems that we lock in and they do not. Does anyone know anything about this?

We would clear about $7000 after all of Marriotts fees. We paid $18K.

Avatar for Nancy W. Nancy W.

6 years ago
May 23, 2012

Message deleted.

By Elaine C.

Maybe my question is silly... but if I'm buying the resale of a timeshare does it mean that I am buying the whole deed for life or just the week?

Avatar for Elaine C. Elaine C.

1 year ago
Mar 15, 2017

By RedWeek Support
RedWeek.com Team

Elaine-

Timeshares posted as resales would mean you are purchasing the ownership and associated maintenance fees for life -- or until you sell the timeshare. If you purchase a rental, you would be paying to use the timeshare for just that one week (or whatever length the rental is for).

If you have further questions, please feel free to Contact Us.

Phyllis

Avatar for RedWeek Support RedWeek Support
RedWeek.com Team

1 year ago
Mar 15, 2017

page 1 of 1

«  prev page    next page  »

Reply to Topic

Available only to RedWeek.com Guests and Members
Sign in or register for free