Cracking the Code: How Much Can You Really Sell Your Marriott Timeshare For?
Have you been enjoying your Marriott timeshare for years, creating unforgettable memories with your loved ones, but now find yourself at a crossroads, wondering, "How much can I actually sell my Marriott timeshare for?" You're not alone! Many timeshare owners reach a point where their vacation needs change, financial circumstances shift, or they simply desire a different kind of getaway. Selling a timeshare, especially one from a reputable brand like Marriott, can seem like a daunting task, shrouded in mystery and filled with questions about its true market value.
The truth is, while Marriott timeshares are known for their quality and brand recognition, the resale market operates quite differently from the original sales process. You won't typically recoup your initial purchase price, which often includes hefty sales commissions and marketing costs. Think of it like buying a new car – it depreciates the moment you drive it off the lot. However, there is a market for Marriott timeshares, and with the right approach and realistic expectations, you can navigate the process effectively.
This comprehensive guide will walk you through everything you need to know about selling your Marriott timeshare, from understanding its value to successfully finding a buyer. Let's dive in!
Step 1: Understanding the Value of Your Marriott Timeshare – It's Not What You Paid!
This is perhaps the most crucial first step, and it's where many owners face a reality check. Unlike traditional real estate, timeshares generally depreciate significantly on the resale market. The price you paid originally included substantial overhead for sales and marketing, which can be 50-60% of the initial cost. When you sell, you're essentially selling the "basic value" of the property without that markup.
Sub-heading: Factors Influencing Your Marriott Timeshare's Resale Value
Several key elements will determine how much you can realistically expect to get for your Marriott timeshare:
Type of Ownership: Weeks vs. Points
Deeded Weeks Ownership: If you own a specific week at a particular Marriott resort, its value will largely depend on the resort's desirability, the week number (e.g., peak season vs. off-season), and the unit size and type (e.g., 1-bedroom vs. 2-bedroom, oceanfront vs. garden view). Marriott largely phased out new deeded week sales in 2011, transitioning to a points-based system. This means deeded weeks are only available on the resale market.
Marriott Vacation Club Destinations Points: If you own points, the value is tied to the number of points you own, the home resort associated with those points, and the annual or biennial usage. Points offer more flexibility, which can be appealing to some buyers. However, some benefits offered to original purchasers of points directly from Marriott may not transfer to resale buyers, which can impact demand.
Home Resort Location and Desirability
Some Marriott resorts are in higher demand than others due to their location, amenities, and overall popularity. For instance, resorts in highly sought-after destinations like Aruba, Hawaii, or Orlando tend to command higher resale prices than those in less popular areas.
Consider the "Platinum" or "Gold" seasons at your resort. Platinum (peak season) weeks will always be more valuable than Gold (off-peak) weeks.
Unit Size and Configuration
A larger unit, such as a 2-bedroom or 3-bedroom villa, will generally be worth more than a studio or 1-bedroom unit due to its greater capacity and appeal to families.
Specific views (e.g., oceanfront, golf course) can also add value.
Annual vs. Biennial Usage
An annual usage timeshare (where you can use it every year) is typically more valuable than a biennial usage timeshare (every other year), as it offers more frequent vacation opportunities.
Outstanding Maintenance Fees or Dues
Crucially, any outstanding maintenance fees or assessments will need to be paid off before you can sell. Buyers will not want to inherit your debts. Ensure your account is in good standing.
Current Market Conditions
The timeshare resale market is fluid. Prices can fluctuate based on supply and demand. Currently, the market is generally oversupplied, which means prices are often significantly discounted.
Any Remaining Mortgage
If you still have a mortgage on your timeshare, you'll need to pay it off from the sale proceeds. In some cases, if the resale value is less than the outstanding mortgage, you might have to pay the difference out of pocket.
Marriott's Right of First Refusal (ROFR)
Be aware: Marriott Vacation Club often has a "Right of First Refusal" (ROFR) on resales. This means if you find a buyer, Marriott has the option to step in and purchase the timeshare themselves at the same price and terms you've agreed upon with your buyer. They often exercise this right if they deem the price too low, which can be frustrating but also indicates a baseline value they are willing to pay for inventory. This process can add 15-30 days to the closing timeline.
Step 2: Researching Realistic Resale Prices
Now that you understand the factors, it's time to get a realistic idea of what your specific timeshare might sell for. Avoid falling for inflated promises from dubious resale companies.
Sub-heading: Where to Look for Comparable Sales
Licensed Timeshare Resale Brokers: These professionals specialize in the timeshare secondary market and have access to recent sales data. Many offer free market analyses or consultations. This is often the safest and most accurate way to get an appraisal.
Online Timeshare Resale Marketplaces: Websites that list Marriott timeshares for sale by owner or through brokers can give you a general idea of asking prices. However, remember that asking prices are not necessarily selling prices. Look for "sold" listings if available.
Marriott Vacation Club's Own Exit Programs: Marriott has introduced programs to help owners exit their timeshares. While they may not offer a high cash payout, they can be a legitimate way to surrender your ownership, especially if you're struggling to sell. Contact Marriott Vacation Clubs directly to inquire about their current exit options.
Important Note: Be wary of any company that guarantees a sale or a specific high price, especially if they demand large upfront fees. This is a common characteristic of timeshare resale scams. Legitimate brokers typically work on commission, charging fees only after a successful sale.
Step 3: Preparing Your Timeshare for Sale
Once you have a realistic price in mind, it's time to get your ownership ready for the market.
Sub-heading: Gathering Essential Documentation
Deed or Certificate of Ownership: This is your proof of ownership. Make sure it's readily accessible.
Original Purchase Agreement: This document contains important details about your ownership, including the specific week/points, unit size, and any associated club memberships.
Maintenance Fee Statements: Have recent statements available to show current and past maintenance fees. Buyers will want to know these ongoing costs.
Proof of Clear Title: Ensure there are no liens or outstanding financial obligations tied to your timeshare.
Sub-heading: Understanding the Impact of Unpaid Dues
If you have any unpaid maintenance fees, special assessments, or other dues, you must resolve them before listing your timeshare for sale. A clear title is essential for a smooth transaction. Buyers are highly unlikely to take on your existing financial burdens.
Step 4: Choosing Your Selling Strategy: DIY vs. Brokerage
You have a couple of primary paths to consider when selling your Marriott timeshare.
Sub-heading: Option 1: Selling It Yourself (For Sale By Owner - FSBO)
Pros: You save on commission fees, potentially allowing you to offer a slightly more attractive price to buyers or keep more of the proceeds. You have full control over the listing and communication.
Cons: This requires significant time and effort. You'll be responsible for marketing your timeshare, screening potential buyers, negotiating, and handling all the paperwork, including the transfer of deed and navigating Marriott's ROFR process. The timeshare market can be complex, and without experience, you might struggle to find a buyer or properly complete the transaction.
Where to List: You can list on online timeshare forums, classified websites, or dedicated FSBO timeshare platforms. Be prepared for a long sales cycle and potential lowball offers.
Sub-heading: Option 2: Using a Licensed Timeshare Resale Brokerage
Pros: Brokers have expertise in the timeshare resale market, established networks of potential buyers, and the ability to handle the complex paperwork and legal aspects of the sale. They can guide you through the ROFR process and ensure a legitimate transaction. Many reputable brokers work on a commission-only basis, meaning you don't pay until your timeshare sells.
Cons: You will pay a commission, which will reduce your net proceeds from the sale. It's crucial to choose a reputable and licensed broker to avoid scams.
How to Choose a Broker:
Check their licensing: Ensure they are licensed real estate brokers in the state where your timeshare is located.
Verify their reputation: Look for online reviews, check with the Better Business Bureau, and search for any complaints or scam reports.
Ask about fees: Confirm their fee structure (upfront vs. commission-based). Avoid anyone demanding large upfront fees with a "guarantee" of sale.
Inquire about their marketing strategy: How will they advertise your timeshare?
Request references: If possible, speak to previous clients.
Step 5: Marketing Your Marriott Timeshare Effectively
Whether you go FSBO or with a broker, effective marketing is key to attracting buyers.
Sub-heading: Crafting an Appealing Listing
High-Quality Photos: Include clear, appealing photos of your unit, the resort amenities, and the surrounding area. Photos are often the first thing buyers look at.
Detailed Description: Provide comprehensive information:
Resort name and location
Specific unit type (e.g., 2-bedroom ocean view)
Week number or points allocation
Annual or biennial usage
Current maintenance fees
Any unique features or benefits (e.g., recent renovations, access to specific Marriott Bonvoy benefits if applicable for resale buyers).
Highlight the benefits of Marriott ownership, even on the resale market – quality, reliability, exchange opportunities.
Sub-heading: Setting a Competitive Price
Based on your research in Step 2, price your timeshare realistically. An overpriced listing will sit on the market indefinitely. Be prepared to negotiate.
Consider offering to pay a portion of closing costs to incentivize buyers.
Step 6: Navigating Offers and Closing the Sale
Once you receive an offer, the real work begins.
Sub-heading: Negotiation and Acceptance
Be prepared for negotiation. Timeshare buyers on the resale market are often looking for a bargain.
Once you accept an offer, a purchase agreement will be drafted. This legally binding document outlines the terms of the sale, including the price, closing date, and responsibilities of both parties. If working with a broker, they will handle this.
Sub-heading: The Right of First Refusal (ROFR) Process
As mentioned earlier, Marriott Vacation Club typically has a ROFR. The closing company (or your broker) will submit the signed purchase agreement to Marriott.
Marriott usually has 15 to 30 days to review the agreement.
If Marriott exercises its ROFR, they will step in and purchase the timeshare themselves under the exact same terms. Your original buyer's deposit will be returned. This is often an indication that your selling price was below their internal valuation for inventory.
If Marriott waives its ROFR (which is more common), the sale can proceed with your buyer.
Sub-heading: Closing the Deal
A licensed closing company (often recommended by your broker) will handle the transfer of ownership, deed recording, and financial aspects of the sale.
They will ensure all necessary documents are signed, fees are paid, and the ownership is legally transferred from your name to the buyer's name.
Funds will be released to you after the successful completion of the transfer and all conditions are met.
Step 7: Post-Sale Considerations
Notify Marriott: Ensure Marriott Vacation Club is officially notified of the change in ownership to avoid any further billing for maintenance fees.
Keep Records: Retain all sale documents, including the purchase agreement, deed, and closing statements, for your records.
Selling a Marriott timeshare requires patience, realistic expectations, and a methodical approach. By following these steps, you can increase your chances of a successful sale and move on to your next vacation adventure!
10 Related FAQ Questions
How to: Determine the actual market value of my Marriott timeshare?
Quick Answer: The best way is to consult with a reputable, licensed timeshare resale broker who can provide a free market analysis based on recent comparable sales of similar Marriott properties. Online listing prices are often just asking prices, not selling prices.
How to: Avoid scams when trying to sell my Marriott timeshare?
Quick Answer: Be extremely wary of companies demanding large upfront fees, promising guaranteed sales, or unsolicited calls claiming to have a buyer. Always verify a company's licensing and reputation, and choose brokers who work on a commission-only basis (paid upon sale).
How to: Deal with Marriott's Right of First Refusal (ROFR)?
Quick Answer: After you find a buyer and sign a purchase agreement, the closing company will submit the contract to Marriott. Marriott typically has 15-30 days to decide whether to purchase the timeshare themselves at the agreed-upon price (exercising ROFR) or waive their right, allowing the sale to proceed.
How to: Sell a Marriott timeshare if I still owe a mortgage on it?
Quick Answer: You can still sell it, but the outstanding mortgage will need to be paid off from the proceeds of the sale. If the resale price is less than your remaining mortgage, you will be responsible for covering the difference.
How to: Prepare my Marriott timeshare for sale to attract buyers?
Quick Answer: Gather all ownership documents (deed, purchase agreement, maintenance fee statements). Take high-quality photos of the unit and resort. Write a detailed description highlighting key features like unit size, location, and annual/biennial usage. Ensure all maintenance fees are current.
How to: Choose between selling by owner and using a timeshare broker?
Quick Answer: Selling by owner (FSBO) saves on commission but requires significant time, effort, and knowledge of the complex process. Using a licensed broker offers expertise, wider marketing reach, and handles paperwork, but incurs a commission fee upon sale. For most, a reputable broker is the safer and more efficient option.
How to: Handle outstanding maintenance fees or assessments before selling?
Quick Answer: You must pay off all outstanding maintenance fees and any special assessments before or at the time of closing. Buyers will not take on your debts, and a clear title is necessary for the legal transfer of ownership.
How to: Price my Marriott timeshare realistically for the resale market?
Quick Answer: Research recent sold prices for comparable Marriott timeshares at your resort, considering unit size, season (fixed week) or points value, and usage (annual/biennial). Be prepared for a significant depreciation from your original purchase price. A broker's market analysis is invaluable here.
How to: Transfer the deed or ownership legally after finding a buyer?
Quick Answer: A licensed timeshare closing company or real estate attorney specializes in this. They will prepare the necessary legal documents, facilitate the signing by both parties, record the new deed with the appropriate county, and notify Marriott of the ownership change.
How to: Get rid of my Marriott timeshare if I can't sell it?
Quick Answer: If selling proves too difficult, explore options like Marriott Vacation Club's official exit programs (if available for your specific ownership), donating it to a charity (consult a tax advisor), or, as a last resort, explore reputable timeshare exit companies (again, with extreme caution due to scams and high fees).
