Buying A Marriott Legacy Week On The Resale Market
Buying a Marriott Legacy Week on the resale market offers buyers the ability to purchase a Legacy Week for a much cheaper price than what the original owner paid. When comparing the overall cost per week of vacation, purchasing a Marriott legacy week can offer incredible value to resale buyers. Resale owners will be able to book their week in exactly the same way the original owner enjoyed, booking up to 12 months prior to check-in date, or even 13 months prior to check-in if booking concurrent or consecutive weeks.
When buying a Legacy Week, youll want to be sure to buy the resort and season that youll use most often. Legacy weeks work best for travelers that want to enable annual vacations to the same destination, during the same travel season each year. While you can always exchange your week through Interval International to travel to other resorts or during other travel seasons, it is most cost-effective and convenient to use the week in the travel season and resort the contract is deeded to.
It is important to note, resale Legacy Week owners would not be able to convert your week to Marriott Rewards points, or be enrolled in the Destinations Points program at a later date.
Right Of First Refusal
If an owner is going to sell to a third party, the owner must notify Marriott in writing of the agreed on terms. If Marriott decided to, they can purchase the property based on the terms of the sales contract. Essentially, the waiting period is to see if Marriott will chose to waive their Right of First Refusal.
Where You Can Use Your Marriott Vacation Club Points
Joining the Marriott Vacation Club comes with supplementary benefits worth considering. One surprising perk is access to Interval International, which is a vacation exchange network that covers a variety of resorts including those from other brands. These include places like the Harborside Resort at Atlantis Paradise Island Bahamas and the Four Seasons Country Club in the Quinta do Lago Resort in Portugal.
Also, depending on the number of points you have, vacation options can include cruises, tours, traditional hotels and sporting events. Known as The Explorer Collection, it includes things such as U.S. national parks guided tours, European cruises and a Kenyan safari.
A sliding scale on the Vacation Club website helps to understand how many points each vacation experience costs.
The starting price for an introductory batch of points is approximately $24,000, with the option to buy more based on your travel needs. Annual fees and dues are an additional expense. They cover things like local real estate taxes, operational expenses, regular maintenance and upkeep, and onsite insurance premiums.
» Learn more:Who owns what? Hotel chains and their brands
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Start Getting Cash For Your Unused Marriott Points Today
- We offer some of the best prices out there for your unused MVC points.
- No need to worry. We handle marketing, renting, and selling your points for you!
- Our process is contract-free for a hassle-free experience.
- Sell as many or as few points as you want, and still use your timeshare on your terms.
- Use our owner portal to track your Marriott reservations and payments.
- We are confident that your points will sell!
Ask Redweek / October 2018
I have owned several Marriott Vacation Club properties for years, but it’s time to sell them since our family’s travel plans are changing. Does Marriott buy timeshares back, and if so, would they give me a decent price?
Short answer: Yes, Marriott is the latest major developer to introduce a buyback and take-back program for longtime owners who have intervals that Marriott wants to acquire. But, unless you have a prime week and don’t really care how much you get back for it, you may want to take the time to explore your other options.
Here is a snapshot of the program and how it compares to owners’ other options for selling their Marriott timeshare.
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Out Of The Blue Buyers
If you were not looking to sell your Marriott timeshare in the first place and you get an out-of-the-blue phone call from someone that claims to have a buyer waiting, be aware that this is likely a scam. Especially if the offer is more than what you originally paid for, or is reasonably a high offer. These sorts of resale scams will claim that they have a buyer ready, but will request an upfront wiring fee or transfer fee of some kind. Again, you should never have to pay an upfront fee for transferring or selling your Marriott timeshare. The caller will likely take the money and transfer it into a shell company or what we call a viking ship, never to be heard from again.
How Do Marriott Timeshares Work
Like many other companies in the timeshare business, Marriott originally sold traditional timeshare units. In other words, the company might break a condominium at one of its resort properties into 52 segments, each corresponding to a week of the year. Weeks would then be sold to purchasers.
The current state of the industry, and MVCs business, is a bit more sophisticated now. While MVC does still sell week units to people who want them, the more popular and modern system of vacation ownership is with points. Rather than owning a unit at a home resort, you receive annual Vacation Club Points that are used as currency to book your stay at Marriott Vacation Club resorts.
For example, lets say that you purchase 5,000 annual Marriott points from a resort in the Caribbean. You can use those points to reserve time within a specified window at any of the resorts that MVC directly owns.
The Marriott sales pitch, though, is that you can also use those same points for a unit in South Carolina at Hilton Head Island or the Grand Chateau in Las Vegas. There are also offers for units at other Marriott Vacation Club destinations like Hawaii , Thailand, and Spain.
If owners want more options, MVC allows you to trade points for reservations at resorts operated through its sister company, Interval International. The Marriott rewards system is thrown in as another measure to ensure that you stay loyal to their brand for all your vacation needs.
Common Timeshare Resale Scams When You Sell Your Marriott Timeshare
Selling your Marriott timeshare on the resale market is a great option. Especially because MVC is one of the best vacation clubs out there with buyers constantly looking to make a purchase for less. However, it can be difficult to find a legitimate timeshare resale company you can trust. Keep these points in mind when you are considering selling your Marriott points on the resale market:
The Marriott Vacation Club Features A Dynamic Portfolio Of Global Resorts And Adventures But Points Ownership Can Becomplicated Curious As To How A Marriott Timeshare Can Work Alongside Your Travel Goals From Points To Rewards Well Explore Vacation Ownership With Mvc
Sam Clegg – Nov 10, 2020
Although the timeshare industry in the US dates back to the 1970s, Marriott has played a key role in introducing the concept of vacation ownership to the broader travel market. In 1984, Marriott became the first hospitality brand to offer timeshares, establishing the originally called Marriott Ownership Resorts, Inc. with a resort on Hilton Head Island in South Carolina.
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Let Us Handle The Transaction
In any transaction, there can be a lot to manage contracts, agreements, invoices, payments. If selling your vacation points starts to sound like a second job, it can keep you from selling them in the first place. Thats why we handle all of this for you. All you need to do is tell us how many points you want to sell, and well find someone to buy them. From there, we send you your cash payout and thats that!
You Can Add Vacation Club Points At Any Time
As your life changes, your vacation ownership can evolve right along with you. Plus, as your vacation portfolio grows, you can achieve elevated Owner benefit levels with Marriott Vacation Club and enjoy enhanced benefits such as access to VIP weekends, select The Ritz-Carlton Club locations, luxury cruises, Marriott Rewards® upgrades and more.
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What Happens If You Don’t Pay Maintenance Fees On Marriott Timeshare
If you dont pay your maintenance fees, Marriott will contact you to find out why. In some instances this can be because of financial stresses, and Marriott has a program in place where they can work with owners to help. If owners continue to withhold payment, or not speak to Marriott about payment, they will turn the account over to their collections department to handle the debt collection.
The account can also be reported to the major credit bureaus, with the owner taking a hit on their credit report and corresponding credit score at each step of the process. The longer it takes, the more significant the impact until the case is either resolved by payment or eventually ends up in foreclosure. Marriott can begin foreclosure proceedings to get their timeshare or points back, which could involve a court proceeding as well.
This is often a last resort option for owners, so before you consider not paying your maintenance fees please contact one of our licensed agents to talk over your options to sell.
Getting Help With Your Timeshare Exit
However much you might want to, you may not be able to resolve your exit concerns with Marriott. Some Marriott Vacation Club owners want to get out of their contracts because they feel like the sales tactics used against them were improper. Some may have been promised an exit solution from Marriott, only to find that those programs no longer exist.
If this is your situation, dont despair. Centerstone Groups professionals have decades of combined experience in resolving just this kind of problem. Our BBB accreditation and reviews speak to our results. We have developed a proprietary three-pronged approach to getting your timeshare exit completed.
First, we will engage in a pressure campaign against the timeshare resort, consisting of phone and written communication as well as social media engagement. Well also review your case to see whether there are any regulatory concerns, and if so, well file the necessary complaints.
We also offer the ability to use a receiver to take over your timeshare obligations during the transfer process. This way, we can help to ease your burden of timeshare ownership as soon as possible.
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To Be A Marriott Owner
With any timeshare purchase, while you may be ready to dive into your dream trip, keep yourself grounded on the financial front. Annual maintenance bills and club dues are a serious commitment, while purchasing points on the resale market may come with unexpected, and significant, fees.
As a timeshare owner, you are essentially paying for your vacations in advance. This lifestyle purchase, along with its rewards programs, can indeed bring savings over the years. But take time to crunch the numbers first. And remember, you can also discover Marriott Vacation Club destinations by renting from MVC owners through KOALA! Check out our current Marriott listings here.
The pros and cons of Marriott ownership can be endlessly debated, but at the end of the day the value of any timeshare product is in the eye of the beholder. On a given day we hear everything from serious problems to unparalleled vacation memories as a result of these programs. As always, we strongly recommend that you do your research before entering into any sort of ownership agreement or sales presentation. For those that choose to move forward, .
Who Will Buy My Marriott Ownership
There are many buyers out there looking for Marriott timeshare resales available. Keep in mind that although you can sell your Marriott timeshare, it is highly likely that it will not sell for what you originally paid for. Timeshares are not a financial investment, so its important to keep your expectations realistic. Buyers look to the resale market to save money and experience many of the same benefits. As a top vacation club, Marriott is highly popular and there are interested buyers out there.
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Exiting A Marriott Timeshare
Like other companies in the timeshare industry, MVC sells products that are not easy to get rid of. This is because Marriott resorts depend on the income stream generated by Marriott timeshare owners. Difficult, however, is not the same thing as impossible. You have a few options both inside and outside of MVC.
Wyndham Says Its Ovation Program Has Helped Thousands Of Owners Divest Their Timeshares
The timeshare developer industry has been slow to adopt exit programs despite the growth of the secondary market, where thousands of owners have sought ways to get rid of their timeshare contracts. RedWeek’s 2.6 million subscriber base, a large percentage of owners, is a testament to the size of that market where owners try to sell and/or rent their intervals online.
The industry’s dynamic started to change four years ago, when Wyndham, the world’s largest timeshare company, introduced its “Ovation” exit program for longtime members of Club Wyndham. Diamond Resorts unveiled a similar sounding “Transitions” exit program two years later. Both programs are selective, meaning the companies don’t take back all intervals — only the ones they want, which typically means deeded weeks at high-demand destinations.
As part of RedWeek’s research into Marriott’s exit program, we asked Wyndham for an update on Ovation. In an e-mail, Wyndham offered the following:
“Wyndham Destinations reaffirms its commitment to putting our owners first, by providing simple, safe and secure exit options for those owners who have fulfilled their vacation ownership goals,” said Jeff Zorovich, senior vice president of owner services and club management. “Since the introduction of Ovation in early 2015, we helped thousands of owners exit their ownership with peace of mind, and without any additional costs.”
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How To Sell Your Marriott Timeshare
- 5 months ago
Marriott Vacation Club has a wealth of benefits for owners and frequent travelers. While the timeshare industry continues to grow, and owners are as happy as ever, sometimes its just not realistic to hold onto your ownership anymore. With all of the different options, it can be confusing to know where to turn when you want to sell your Marriott timeshare.
Timeshare Broker Sales: Reputable Safe And Secure Since 2005
Our licensed timeshare brokers have extensive, insider knowledge regarding program intricacies, resort-specifics, and exchange opportunities that our clients find invaluable when deciding which vacation property to purchase.
And, were here to ensure your timeshare transfer goes as smoothly as possible, from selecting the perfect property to closing safely and securely.
Call us today Toll Free at 985-9946 or contact us with any questions and see what our customers are raving about! Let us help you buy that perfect Marriott timeshare resale, and see how much you can save.
NOTE TO CURRENT OWNERS: If you are a current owner, and have questions regarding selling your Marriott timeshare, or may want to rent your timeshare, but dont know how to go about it, give us a call 985-9946
We can provide expert advice, especially if circumstances or lifestyle changes affect the usage of your timeshare. There are options, and as licensed real estate brokers, and a BBB Accredited Business, you can be assured of safe and secure transactions.
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What We Like About Marriott Points
Marriott timeshare points are basically vacation currency, and the allotment of points you buy determines your booking opportunities. The amount of points needed for accommodations varies depending on location, season, unit, etc. You can use all your points each year, bank for the following year, or borrow them from the upcoming year towards your current vacation. Below you can find a quick summary of the key advantages and disadvantages of MVC points ownership:
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Internal And External Exchange Options
All Marriott owners – whether they own points or legacy weeks – can exchange through Interval International to access Marriott or non-Marriott properties worldwide. Marriott maintains Interval International representatives at their headquarters to assist Marriott owners exclusively.
The Marriott Vacation Club Destinations system is essentially Marriott’s internal exchange network — if you own points, you can contact Marriott directly to use your points for bookings. Owners of traditional legacy weeks do not have access to this system unless they enrolled their legacy week into the points option . In order for a legacy owner to be able to enroll their timeshare in the points program, they must have purchased their unit directly from Marriott or from the resale market prior to June 23, 2010.