Should You Purchase a Marriott Timeshare Resale?
Read on to find out why you should never purchase a timeshare from a Marriott timeshare presentation, and ONLY purchase on the resale market.
First, About Marriott Timeshares (MVC)
Marriott is the most popular timeshare in the world. Visit any Marriott timeshare property on a Saturday and you will find leagues of sales reps giving tours. With over 60 resorts and 12,000 villas, Marriott has a stronghold on vacation ownership. As the global leader, they offer destinations in golf, beach, ski, or any lifestyle vacation you desire.
When you buy a resale you acquire points or a fixed week. You are allotted a certain amount of points each year, depending on the initial plan you purchased, but can also buy more points if you wish.
If you purchase a fixed week you are entitled to visit during that week at that specific resort.
What Are the Ownership Options?
Every resort has different ownership based on location, weather, and amenities.
The Marriott in Newport Beach, CA is a popular resort. Two fixed weeks are sold there, the 4th of July and Christmas. These guarantee usage every year on those holidays. The remainder of the year is divided into high and low season. The high season is summer, May – September. Buyers must purchase a floating week if not purchasing the 4th of July or Christmas weeks.
Most resorts are similar or sell more fixed weeks.
How Many Marriott Resales are Available?
Each resort is different. The Newport Coast Marriott has hundreds of sellers on the resale market. Other destinations like Summit Watch Park City, Utah have only a few sellers. This is due to the popularity and size of the resort.
There are thousands of Marriott off-season timeshares, also known as “shoulder seasons”, available for $1.00 (yes, $1.00!) through eBay and timeshare brokers. These are typically in ski or far off destinations with spring or fall usage. If you plan on buying a shoulder season be aware that reselling it will be almost impossible.
With shoulder seasons, the maintenance fees can end up costing owners more than renting the property. Shoulder rentals are available as Getaways on Interval International (intervalworld.com) for $350 – $450 a week, whereas typical annual maintenance fees for a Marriott timeshare are $1,300.
What to Know about Purchasing a Marriott Timeshare Resale
Timeshares are hard to sell, so you can get a deal. You can negotiate your price aggressively. Sellers rarely get offers, unless they have a premium week. Start your offer at a minimum 35% below the listing price and stay firm in negotiating. Sellers will often accept a big discount on the list price.
The closing process can be long. Timeshare escrow companies and brokers are notorious for a big pile of transactions to go through. Expect 30-45 days for escrow and another 30 days for Marriott to approve your membership. If you have a Right-Of-First-Refusal (ROFR) clause expect another 7-10 days on top of that. All combined you could be looking at 80-85 days before your timeshare purchase is usable.
The timing can be difficult. With a 3-month closing time, you can easily miss the deadlines for using your points, or using your week. Be sure to calculate when your next usage is and if you will close in time to use your week.
Annual fees will increase. Expect annual increases of 5% or more on your annual maintenance charges.
Why Buy Resale?
Discounts, Discounts, Discounts! Resales are such a great deal that you should never purchase from a timeshare presentation. A typical Marriott resale will cost $500 – $8,000. Anything pricier is typically a fixed holiday week. A resale for 4th of July week at Newport Coast Marriott will cost you about $19,000 as of June 2019.
Compared to $45,000, and up, directly from Marriott, vs. $5,000 resale – you can see how the resale market is a great deal.
During recessions timeshares can be cheaper, giving the prudent buyer discount pricing. The same 4th of July week at Newport Coast Marriott during the 2008 financial crisis was selling for around $12,000. Do some research on Redweek (What is My Timeshare Worth? section) and Sharket.com to find out what timeshares are truly worth.
Web Sites to Purchase Resales Through
Most timeshare buyers are not aware of timeshare resales, let alone where to purchase them. Online resales sites can be hard to find. We offer a full-service Marriott timeshare service for those looking to purchase. Email us for the latest listings and great prices at [email protected]
Here are my ratings of the following timeshare resale sites:
Redweek.com – One of the best for finding resales. Great inventory for Marriott and a verified process gives you the ability to buy with confidence. Highly recommended for its integrity and ease of use. $18/membership fee per year to join.
SellMyTimeshareNow.com – Rip off pricing and many listings are inactive. Stay away from this site for purchasing.
eBay – Great source for finding occasional deals, but beware since there is no formal process and scammers can be found here.
Tugbbs.com – great site for asking around for resales. Not many listings in their directory, but a great membership base to help you make educated decisions around your purchase.
You can also search and find timeshare real estate agents to help you find your ideal Marriott timeshare resale.
What to Remember as a Marriott Owner
Booking an exact week is hard (unless you own a fixed week). Expect long call hold times and disappointing results for getting your perfect vacation week. Even the early morning callers find that most weeks are booked. Priority at some resorts is given to multiple week owners.
Buying high season doesn’t always land you a week in your summer vacation. The summer season usually runs from May through September, and your children may return to school in August. Thus, some years you will not be able to book weeks during summer vacation.
Your timeshare will depreciate. It will especially depreciate if you purchase directly from Marriott. I’ve talked to timeshare owners that spent over $100,000 on their ownership and the current value is around $12,000. The main reason to buy on the resale market is that most of the depreciation has taken place.
You will need to plan vacations in advance. To book a vacation at any of the Marriott properties, you need to know your vacation plans well in advance. Especially if you’re looking to travel to a popular destination in its high season, booking 1-2 years ahead will help get the vacation spot you want. Having a young family or an unpredictable schedule might cause trouble when trying to find a vacation time that works for everybody!
The Marriott points program offers a certain degree of flexibility, as you can save up points for future vacations, or even borrow points you will get in the future for a current vacation. Points can be used at any of the Marriott resorts, hotels, or affiliated hotel and specialty vacations, giving travelers many options.
You must love the resort atmosphere. While there are other options in the Marriott Vacation Club for specialty vacations or international hotels, the general Marriott timeshare is a strong resort atmosphere. This means less privacy, smaller units, more kids, and no nightly room cleaning. Sometimes the pools are shut down during busy days after defecation accidents from children.
Although the Marriott Vacation Club sounds like the perfect travel opportunity, it is not for every traveler. While your needs may fit in well with the program, others’ needs may not, so it is essential to consider budget, usage, unit size, and many factors before buying a Marriott timeshare resale.
Understanding Your Rights
Life tends to produce unforeseen circumstances, so being conscious of how you can get rid of your timeshare is important as well! If you are unable to use a previously booked reservation, there are a few options for renting it out. Sites like Redweek.com connect timeshare owners and renters to mutually benefit both groups through a verified and trustworthy process, so you don’t have to worry about scams.
Many people buy timeshares that do not fit their needs or were not well-informed at the time of purchase and want to get rid of their timeshares. To avoid being in that situation, contact us at [email protected] to help you find a Marriott timeshare resale that will work best for you.