Marriott Ko Olina Beach Time share Resale

has anyone sold their time share week thru Redweek? How long did it take?

I believe Marriott has a Right of First Refusal .... If I am correct, you need to first offer it to them for sale. If they don't execrise this Right of First Refusal then you can sell it but they won't sell it for you. You need to find a buyer on your own---offer it to friends, family, coworkers, boss, clergy.......if you find a buyer you can contact Hawaiidocumentservice.com --they will send you a checklist that will gather info from you and the buyer......with that info a binding contract will be created and sent to both parties---then, with that signed contract, escrow will be opened. Collectively, all escrow fees run around 1025.00---you and the buyer decide who pays (buyer, seller, split)-----

If you just want to give it to someone with no sale, Hawaiidocumentservice.com charges about 300.00 to 380.00 (WITH NO marital changes since purchased), plus the Resort's transfer fee of 25.00.

Be extra careful out there---there are TONS of scam artists..........

GOOD LUCK.

You might be right about Marriott Ko Olina not selling but many Marriott's do have resales dept to do just that for the owner.

We had a lady (Kathy) sold her Vail Colo unit by letting Marriott handle it about six months ago.

I might be wrong also but think you are giving wrong advice as far as Right of First Refusal with Marriott's. My understanding is when you have a buyer and a signed contract for a sale Marriott has the right to buy your unit for that same price.

If they decline the sale goes forward so either way owner sells the unit.

PHILL12

Also, Marriott has suspended ROFR for many of their resorts during this downturn in the economy, but it's still implemented at some of their more popular resorts.

Phill..........We are saying the same thing regarding Marrittos ROFR.........you can't sell it unless you offer it to them first and if they don't want it you'll get a waiver from them declining to buyback.........

Yes, and in Hawaii, you must get your ROFR.

karik27 wrote:

Yes, and in Hawaii, you must get your ROFR.

Can you can get prior notice that Marriott will not exercise its ROFR at any price?

Yes, you will have to submit something to Marriott but you don't want to spend a couple hundred dollars on a contract only to have them exercise their First Right---you just give them the names and numbers (on paper) and go from there. We're sayign the same thing.

We are on the same page to a point but where we disagree is in the fact you need to go to Marriott first because they are not going to make a owner a offer.

What they will do is match your signed contract price or pass on the deal and let you sell to the person.

Reason for this is they want you to sell if you can but at a top price to keep Marriott prices high. They would only buy it if you sold for a ridiculous price and only then would they buy it at that same price and sell it for Marriott prices.

The reason for the signed contract is to keep people honest in the fact you really do have a buyer and not just acting like you do and having Marriott buy your unit back.

It would be so easy to just call up and say I have a buyer offering this amount so Marriott would buy it.

PHILL12

Phil, We're saying the same thing------just don't spend any money having a professional contract drawn up until you have a waiver------BECAUSE, you could be OUT the cost of the contract if Marriott exercises their ROFR.

regarding Marriott time share resale...any resale....according to Marriott, if someone purchases a timeshare from an OWNER rather than Marriott directly, many of the perks do not transfer over. Now, I can purchase a RESALE from Marriott and will get all the perks, but not a resale from a private owner.

Unfortunately, the sales person I have been talking to has been decidedly difficult to pin down on the details. Anyone have any idea what "perks" she is talking about?

laurac260 wrote:

regarding Marriott time share resale...any resale....according to Marriott, if someone purchases a timeshare from an OWNER rather than Marriott directly, many of the perks do not transfer over. Now, I can purchase a RESALE from Marriott and will get all the perks, but not a resale from a private owner.

Unfortunately, the sales person I have been talking to has been decidedly difficult to pin down on the details. Anyone have any idea what "perks" she is talking about?

Not being a Marriott owner I can only state what I have heard and been told by friends that do own.

You need to weed out the perks you would lose by price difference and what you would probably use at some point.

You can save so much money buying resale from a owner and in many cases this is the only way to go. My understanding is only loss would be the right to exchange your week for Marriott reward points.

Also many of these hotel/timeshare chains are changing their perks and you even get less value than when you bought.

I would recommend going on Tug where they have owner forums just for that chain. You can always learn more talking to owners than some sales person.

Good Luck! PHILL12

The only "perks" would be any Marriott Rewards points that you may be given initially for your purchase which could be the equivalent to one free vacation. Also, you will not be able to exchange your unit for Marriott points which at this time is not such a big deal since the points have been devalued and you cannot get a week for your exchange anyway. In addition, you can buy the points and it would be much cheaper than the additional money you would be paying if you bought directly from Marriott.

Resale at this time is a much better deal.

If the "perks" came from a sales person, then don't hold your breath.........when you purchase a timeshare from other than the resort, you get whatever is described in the deed.......their website might expose some perks?/???

Ya'll should know that a few months ago Marriott told us that they wouldn't note any title changes between people without an EXTERNAL TRANSFER FORM completed. So if you're a new owner and you didn't fill out this form it is possible that they have not updated their files to show you as the new owner....

karik27 wrote:

Ya'll should know that a few months ago Marriott told us that they wouldn't note any title changes between people without an EXTERNAL TRANSFER FORM completed. So if you're a new owner and you didn't fill out this form it is possible that they have not updated their files to show you as the new owner....

hey, thanks for posting this. I have been looking at purchasing, probably a resale, and I was wondering how Marriott knew (or was informed) that timeshares had changed hands. I get the feeling they would prefer that resales between private people did not exist. The sales person certainly did all she could to dissuade us from going that route.

Actually, I don't think Marriott would dissuade any private sales, especially now when the economy is so bad and many people was simply walking away from their timeshares. When people "just walk" and allow foreclosure, it ties up that week(s) for a long time until foreclosure can be accomplished and it's not like they do one foreclosure at a time. When timeshare do foreclosures, they do them in bulk for many valid reasons. For them, having a private sale/transfer is in their best interest because someone new gets to pay the annual maintenance fees. If you're going to buy a timeshare from a private unknown party, please go thru a title and escrow service to protect yourself.

Whoops, another thing: when you buy a timeshare and use a title and escrow service, or a private service (like us) the resort is notified not only by that External Transfer form but because: the seller must let the resort know 'who' is doing the escrow services or who's doing the work. That way they can make sure that any outstanding bills are paid and that the transfer fees are paid (25.00). If you use a private service then they should send a copy of the new recorded deed to the resort along with the transfer fee and External Transfer forms (like we do).

Good luck, and don't give ANY stranger (non title/escrow company or reputable transfer company) any upfront money. You will surely lose it. There's SOOOOO much fraud out there right now with timeshare sales. I hear horror stories everyday of people getting ripped off of thousands of dollars.