As a Marriott Vacation Club Owner, you have probably experienced unforgettable vacations and made tons of incredible memories over the years. But we understand that sometimes life changes in ways that don’t allow you to use your timeshare like you used to, and that’s okay! You are not alone, and there are safe ways to part ways with your Marriott Vacation Club membership. By selling it on the resale market, you can pass it off to a new owner who will enjoy making their own vacation memories. Many buyers purchase point-based timeshares on the resale market, and it is easy to see why. Points-based timeshares offer more flexibility, and there is a lot of strategy that can come into play in maximizing the value of points, which resale buyers love. Continue reading to learn more about how to sell Marriott Vacation Club Points on the resale market.
- What Information Should I Gather to Sell My Marriott Vacation Club Ownership
- How Marriott Timeshare Points Work
- Market Value and Pricing For Marriott Timeshare Resales
- Restrictions, Right Of First Refusal, And Resale Requirements
- Closing Costs, Commissions, and Fees When Selling Marriott Timeshares
- Alternatives To Selling Marriott Timeshares Or Points
- Avoiding Scams And Upfront Fee Red Flags In Timeshare Resales
- Timeline And What To Expect From Listing To Closing
- Sell Marriott Points with Fidelity Real Estate
What Information Should I Gather to Sell My Marriott Vacation Club Ownership
When preparing to sell your Marriott timeshare, it is important to first understand exactly what you own. Marriott timeshares come in many structures, so if you plan to sell Marriott Vacation Club Points, you’ll want to confirm that your ownership is points-based rather than a fixed or floating week. The first step of exiting your timeshare should also always be to contact Marriott directly. Not only to confirm what you own, but to get information about any possible official Marriott timeshare exit options. Here are the other key details to gather about your membership:
- Ownership Documents: The timeshare contract that you received from Marriott when you purchased your Marriott Vacation Club points.
- Length of Contract: Whether the contract is owned in perpetuity or has an end date.
- Point Details: Total number of points and whether they are assigned annually or biannually.
- Home Resort Information: Name, location, and property ID (if your contract includes a home resort).
- Exchange Company Affiliations: Is your timeshare affiliated with an exchange company, such as RCI or Interval International?
- Financial Information: Annual maintenance fee costs, taxes, outstanding assessments, and mortgage balance, if applicable.
When selling points-based membership, you do not have to worry about the week number, season, or unit size. These are characteristics of a week-based vacation ownership and do not apply to points-based timeshares.
How Marriott Timeshare Points Work
Allocated annually or biannually, Club Points act as vacation currency for booking stays across Marriott resorts. Many buyers appreciate the flexibility that points-based timeshares provide and prefer them over deeded weeks. It is also possible for current Marriott Vacation Club members to buy resale contracts to add points to their exsisting membership. With more points, they can unlock larger accommodations or visit more sought-after resorts in peak seasons.
When you sell Marriott Vacation Club Points, you can use them at any resort in the network. However, your points may have come with a home resort. Not all points contracts include a home resort, but if they do, it can impact the demand for your timeshare. Some Marriott resorts are in higher demand on the resale market than others. The home resort preference period allows owners to book at that specific resort before all other owners and the public. This is a huge perk for popular resorts!
Market Value and Pricing For Marriott Timeshare Resales
When it comes to setting a price for Marriott Vacation Club points on the resale market, there are several factors to consider. The price you should set for your timeshare depends on the number of points you are selling and resort popularity (if you have a home resort). However, it also depends heavily on your maintenance fees, since this is an important financial consideration for buyers. A good practice for determining your price is to browse similar listings. By doing this, you can ensure your price is competitive. With a competitive price, you might have a better chance of selling faster. For additional guidance on pricing, Fidelity Real Estate’s licensed agents can assist you. As industry experts, we understand the market and can provide professional assistance in setting a price that gives you the best chance of finding a buyer.
Restrictions, Right Of First Refusal, And Resale Requirements
When selling your Marriott Vacation Club points on the resale market, there is also a chance that Marriott will exercise its right of first refusal. ROFR takes place after a buyer is found but before the sale closes. Marriott has a set amount of time to either exercise their right or waive it. If they buy it back, they will buy it for the same price that the buyer was going to pay. If they decide to waive it, the sale will move forward as planned. Marriott is more likely to exercise its right if the price is low or the timeshare is valuable to them. It may be more common for legacy weeks at very high-demand properties.
Closing Costs, Commissions, and Fees When Selling Marriott Timeshares
As with any real estate transaction, timeshare resales will require several different fees. Whether the buyer or seller covers these fees typically depends on the terms of the sale. However, to make their listings more competitive, some owners selling Marriott Vacation Club Points will cover the fees. These fees can include the ROFR fee, transfer fees, closing costs, and broker commissions. Marriott also charges a $300 education fee, but waives it if the buyer already owns a Club Destinations membership.
Alternatives To Selling Marriott Timeshares Or Points
If you are not sure you are ready to let go of your timeshare, you could consider renting out your points on a trusted rental marketplace such as Timeshares Only. This is a good option for owners who may want to skip a year or two without fully moving on from their timeshare. Although you may not cover the total maintenance fees for the year, it can help offset costs in years when you can’t travel. Or, if you have listed your timeshare on the resale market and are waiting for a buyer, you can also rent out your timeshare in the meantime.
If you are totally sure that you are ready to move on from Marriott ownership and want a straightforward path to exiting your timeshare, you can explore Marriott’s deedback options or developer exit program options. Deedback is a legitimate way for owners to surrender their timeshare if it is completely paid off and is current on maintenance fees. The process allows owners to avoid finding a buyer for their timeshare, but it is limited to specific ownerships that meet Marriott’s current qualifications. It is also important to note that with developer deedback, you generally do not receive any money back. These programs are designed to relieve you of ongoing costs rather than to buy back the unit. The resale market may be a better fit if you prefer a solution that lets you recoup some of the cost of your Marriott points.
Avoiding Scams And Upfront Fee Red Flags In Timeshare Resales
When navigating the secondary market for timeshares, you may come across companies that claim they can “cancel” your timeshare. You should always approach any company that collects a large sum of money upfront with caution. Legitimate companies will also never advise you to stop paying maintenance fees immediately, or worse, send them directly to them. Other red flags include promises of a quick sale, suggesting that you let your timeshare go into foreclosure, or pressure to act quickly. Legitimate companies are backed by the industry, provide transparent fee disclosures, and work with escrow companies for secure transactions. If you are unsure whether to trust a company in the timeshare industry, checking ARDA’s Coalition for Responsible Exit is a good place to start.
Timeline And What To Expect From Listing To Closing
The timeline of selling Marriott Vacation Club points can vary widely. No matter what you own, there is never a guarantee on how long it will take to find a buyer. Once there is a buyer for the timeshare, there are still several steps before the sale is complete. This includes ROFR periods, escrow processing, and title transfers. It is important to be patient with the process and not have any set expectations on how long it will take.
Sell Marriott Points with Fidelity Real Estate
Decided to sell your Marriott Vacation Club points on the secondary market? Our team of licensed real estate agents are timeshare specialists who can guide you through the resale process with ease. With over 20 years of experience, Fidelity Real Estate is a name that you can trust. We ensure the selling process is transparent, honest, and professional. When you work with Fidelity, you’ll receive a free one-on-one consultation to go over your situation and goals. Fill out the form below to start the process of selling your Marriott Vacation Club points!
