How to Sell Your Marriott Vacation Club Ownership: A Comprehensive Guide
Are you considering selling your Marriott Vacation Club ownership? Perhaps your vacation habits have changed, your family's needs have evolved, or you simply want to free yourself from the annual maintenance fees. Whatever your reasons, navigating the resale market can seem daunting. But don't worry, you're not alone, and with the right information, you can approach this process with confidence.
Let's embark on this journey together, step by step, to understand how to effectively sell your Marriott Vacation Club ownership.
Step 1: Understanding What You Own & Getting Your Affairs in Order
Before you even think about listing your ownership, the very first and most crucial step is to gain a crystal-clear understanding of exactly what you possess. This might sound obvious, but many owners are surprised by the specific details when they delve into their paperwork.
1.1 Gather Your Documentation
Pull out all your original ownership documents. This includes:
Your Deed: This legal document proves your ownership.
Purchase Contract Agreement: This outlines the original terms of your purchase.
Last Maintenance Fee Bill: This will show your current annual fees.
Last Tax Bill: Timeshares often have property taxes associated with them.
Any Other Assessments: Have there been special assessments for resort renovations or upgrades?
1.2 Identify Your Ownership Type
Marriott Vacation Club offers various ownership types. Knowing yours is paramount:
Deeded Week: Do you own a specific week at a particular resort and unit size?
Points-Based Ownership (e.g., Marriott Vacation Club Destinations Points): If you own points, what is your annual allotment? Do these points transfer to a new owner with the same benefits (often, direct-purchased points benefits do not fully transfer on the resale market)?
Floating Week or Fixed Week: For deeded weeks, is your week fixed to a specific calendar week each year, or does it "float" within a season, requiring you to reserve it annually?
1.3 Contact Marriott Vacation Club
This is a critical initial step. Reach out to Marriott Owner Services. They can provide you with:
A comprehensive overview of your ownership details.
Information on any resale restrictions or requirements specific to your property.
Details regarding the Right of First Refusal (ROFR), which Marriott often holds (more on this later).
Any internal resale programs or waitlists they might offer for your specific property.
The current status of your maintenance fees and any outstanding balances. Ensure all fees are current before attempting to sell.
Step 2: Assessing the Value of Your Ownership
Unlike traditional real estate, timeshares generally do not appreciate in value and often sell for significantly less than their original purchase price. Managing your expectations here is key to a successful sale.
2.1 Research the Resale Market
This is where you become a detective.
Online Marketplaces: Websites like RedWeek.com, Timeshare Users Group (TUG), and other specialized timeshare resale brokers (e.g., Fidelity Real Estate, Timeshares Only) are excellent resources. Look for similar ownerships at your specific resort, unit size, season, and usage (annual or every other year - EOY).
Factors Influencing Price: The value is heavily dependent on:
Resort Popularity and Location: High-demand destinations like Hawaii, Aruba, or certain coastal properties tend to hold more value than others (e.g., some Orlando properties might be harder to sell).
Unit Size and View: Larger units and desirable views (oceanfront, golf course) command higher prices.
Season/Week: Peak season weeks are more valuable than off-peak.
Usage: Annual usage is more attractive than EOY.
Points Allotment: For points-based ownerships, the number of points is the primary factor.
Current Maintenance Fees: High maintenance fees can deter buyers.
2.2 Obtain a Broker Price Opinion (BPO)
Many licensed timeshare real estate brokers offer a free BPO. They will research comparable sold prices, current listings, and market demand to give you a realistic idea of what your ownership could sell for. Be wary of any company that guarantees a high selling price or asks for large upfront fees promising a quick sale.
Step 3: Choosing Your Selling Strategy
You have a few options when it comes to selling your Marriott Vacation Club ownership, each with its own pros and cons.
3.1 Selling It Yourself (FSBO - For Sale By Owner)
This option can save you commission fees but requires significant effort on your part.
Pros: You retain full control over the process and avoid broker commissions.
Cons: It can be complex and time-consuming. You'll be responsible for:
Marketing your timeshare (listing it on resale websites).
Negotiating with potential buyers.
Preparing a sales contract.
Arranging for escrow services to handle funds securely.
Managing the Right of First Refusal (ROFR) paperwork with Marriott.
Coordinating the deed transfer and recording.
Ensuring the title change is processed with Marriott.
3.2 Using a Licensed Timeshare Real Estate Broker
This is often the most recommended and stress-free option for many sellers.
Pros:
Expertise: Brokers specialize in timeshare resales and understand the nuances of the market.
Marketing Reach: They have established platforms and networks to market your property to a wider audience.
Negotiation Skills: They can effectively negotiate on your behalf.
Paperwork Handling: They manage the complex legal and administrative processes, including the ROFR, contracts, and title transfer.
No Upfront Fees: Reputable brokers typically work on a commission basis, meaning you only pay if your timeshare sells.
Cons: You will pay a commission (typically a percentage of the sales price or a flat fee, often ranging from 10-25% or a minimum fee).
3.3 Exploring Marriott's Own Resale Programs
It's always worth checking if Marriott offers an internal resale program or waitlist for your specific property. While not always available or guaranteed, it can be a straightforward path if your ownership qualifies. Contact Marriott Owner Services to inquire.
3.4 Timeshare Exit/Cancellation Companies
Be extremely cautious with these. While some legitimate companies exist, the industry is rife with scams.
Red Flags to Watch For:
Guaranteed cancellation: No company can guarantee a contract will be canceled.
Upfront fees: Avoid companies that demand large fees before any service is rendered.
Instructions to stop paying maintenance fees: This will damage your credit and can lead to foreclosure.
Unsolicited calls/emails: It's illegal for timeshare companies to solicit you this way.
Legitimate Options: Some companies assist with deed-back programs (where the developer takes the timeshare back) or responsible exit strategies. Always verify their credentials, check with the Better Business Bureau (BBB), and read reviews.
Step 4: Listing and Marketing Your Ownership
If you choose to sell independently, or even to understand how a broker markets, this step is vital.
4.1 Create an Appealing Listing
Highlight the best features of your ownership.
High-Quality Photos: If possible, include recent, appealing photos of the resort, unit, and amenities.
Detailed Description:
Clearly state your resort, unit type, week/points allotment, and usage.
Emphasize any special features or amenities (full kitchen, multiple bedrooms, prime view).
Mention the flexibility of Marriott's points system if applicable.
Be honest about maintenance fees.
Pricing: Based on your research, set a realistic asking price. Remember, timeshares are rarely investments and often sell at a significant discount from the original purchase price. Consider listing slightly higher to allow for negotiation.
4.2 Choose Your Platform
Specialized Resale Websites: RedWeek.com, TUG Marketplace, Timeshares Only, Fidelity Real Estate, etc. These platforms cater specifically to timeshare buyers.
Licensed Brokers: If you're working with a broker, they will handle the listing on their own platforms and networks.
Step 5: Receiving Offers & Negotiation
Once your ownership is listed, you may start receiving inquiries.
5.1 Evaluate Offers
Don't jump at the first offer.
Understand the Terms: Look at the proposed purchase price, who will cover closing costs, and any contingencies.
Be Realistic: As mentioned, expect offers to be significantly lower than your original purchase price. Many timeshares sell for a nominal fee or even $1 simply to transfer the maintenance fee burden.
5.2 Negotiate Smartly
If you're working with a broker, they will handle this for you.
If selling independently, be prepared to negotiate.
Common Negotiation Points:
Purchase Price: The most obvious point.
Closing Costs: Who pays for title transfer, escrow fees, and recording fees? These typically range from a few hundred to a couple of thousand dollars.
Current Year's Points/Usage: Has the current year's usage been consumed? This can affect the buyer's offer.
Step 6: The Right of First Refusal (ROFR)
This is a critical stage in selling a Marriott Vacation Club ownership.
6.1 What is ROFR?
Most timeshare contracts, including Marriott's, contain a Right of First Refusal clause. This means that once you accept an offer from a buyer, Marriott has the right to step in and purchase the timeshare themselves under the same terms and conditions as the accepted offer.
6.2 The Process
Once you have a signed purchase agreement with a buyer, the contract is submitted to Marriott for ROFR review.
Marriott typically has a set number of days (e.g., 30-60 days) to exercise or waive their ROFR.
If Marriott exercises ROFR: They will purchase your timeshare at the agreed-upon price, and the original buyer's contract will be nullified.
If Marriott waives ROFR: The sale can proceed with your original buyer.
6.3 Strategic Pricing and ROFR
Pricing too high might deter buyers, but pricing too low might encourage Marriott to exercise their ROFR, as they might want to reacquire and resell it at a higher price (or for their internal inventory). Your broker can advise on this.
Step 7: Closing the Sale & Transfer of Ownership
Once the ROFR period has passed and Marriott has waived their right, the closing process begins.
7.1 Engage a Timeshare Title Company or Attorney
This is highly recommended, even for FSBO sales, to ensure a legal and secure transfer.
They will handle:
Escrow Services: Holding the buyer's funds securely until the transfer is complete.
Deed Preparation and Recording: Ensuring the deed is properly transferred and recorded with the appropriate county/state.
Proration of Fees: Calculating any prorated maintenance fees or taxes.
Notifying Marriott: Officially notifying Marriott of the ownership change.
7.2 Continue Paying Fees
It is absolutely crucial to continue paying your maintenance fees and any assessments until you receive official notification from Marriott that the ownership has been legally transferred out of your name. Failing to do so can jeopardize the sale and negatively impact your credit score.
7.3 Final Confirmation
Once the title company completes the transfer and Marriott officially recognizes the new owner, you will receive confirmation. Only then are you fully released from your ownership obligations.
10 Related FAQ Questions
Here are 10 common questions about selling Marriott Vacation Club ownership, with quick answers:
How to: Determine the actual value of my Marriott Vacation Club ownership?
Research comparable sales on specialized timeshare resale websites like RedWeek.com and consider getting a Broker Price Opinion (BPO) from a licensed timeshare broker.
How to: Avoid scams when selling my Marriott Vacation Club timeshare?
Be wary of unsolicited calls/emails, companies guaranteeing a sale or high price, and those asking for large upfront fees. Never stop paying maintenance fees based on external advice.
How to: Find a reputable timeshare resale broker for Marriott ownership?
Look for brokers who are licensed real estate agents specializing in timeshares, have good reviews (check BBB), and work on a commission basis (no upfront fees). Websites like RedWeek.com offer full-service resale programs.
How to: Handle the Right of First Refusal (ROFR) with Marriott?
Once you have a signed purchase agreement, the contract is submitted to Marriott, who then has a specific period (e.g., 30-60 days) to decide if they want to buy the timeshare themselves under the same terms. Your broker or title company will manage this.
How to: Transfer the deed for my Marriott Vacation Club ownership?
Engage a specialized timeshare title company or attorney. They will handle the legal preparation, execution, and recording of the new deed, ensuring proper transfer of ownership.
How to: Stop paying maintenance fees after selling my Marriott Vacation Club timeshare?
Do NOT stop paying maintenance fees until you receive official written confirmation from Marriott Vacation Club that the ownership has been legally transferred out of your name.
How to: Sell a Marriott Vacation Club points-based ownership?
Selling points-based ownerships follows a similar process. Be aware that some developer-offered benefits might not transfer to a resale buyer, which can affect the resale value.
How to: Know if Marriott has an internal program to take back my timeshare?
Contact Marriott Owner Services directly. They sometimes have limited programs or waitlists for certain properties or ownership types, often known as "deed-back" programs.
How to: Price my Marriott Vacation Club timeshare competitively?
Base your price on recent comparable sales, not your original purchase price. Be realistic that timeshares often sell for significantly less, sometimes even for $1, to transfer the ongoing maintenance fee obligation.
How to: Prepare my Marriott Vacation Club ownership for sale?
Gather all ownership documents (deed, contract, fee bills), ensure all maintenance fees and assessments are current, and understand the specifics of your ownership type (week, points, fixed/floating).
