So, you're looking to sell your Marriott timeshare? It's a common situation, and while it might seem daunting, it's definitely achievable. Many owners find themselves in a position where their vacation needs have changed, or the financial commitment no longer aligns with their lifestyle. Whatever your reason, this comprehensive guide will walk you through the process step-by-step, helping you navigate the resale market effectively.
Step 1: Understand What You Own (and Engage with Your Ownership!)
Before you can sell anything, you need to know exactly what you're selling. This might sound obvious, but Marriott timeshare ownership can come in various forms, and understanding yours is the first crucial step.
Gather Your Documents:
Deed: This is your proof of ownership, especially if you have a deeded week.
Purchase Contract Agreement: This outlines all the terms and conditions of your original purchase.
Last Maintenance Fee Bill: This will show your current annual dues and can also provide your ownership details.
Last Tax Bill: Another source of ownership information.
Any Other Assessments: Keep track of any special assessments you've paid or that are currently outstanding.
Identify Your Ownership Type:
Legacy Week Ownership: Do you own a specific fixed week at a particular resort, or a floating week within a season (e.g., "Gold Season" at Marriott's Ko Olina Beach Club)? Knowing your resort, week number (if fixed), and season is vital.
Marriott Vacation Club Destinations Points: If you own points, you'll need to know your annual allotment of points, your "Use Year" (annual award month), and any banked or borrowed points.
Biennial vs. Annual Usage: Do you have usage every year, or every other year (odd or even year usage)? This significantly impacts value.
Check for Outstanding Obligations:
Maintenance Fees: Are your maintenance fees completely paid up? You cannot sell your timeshare if you have outstanding fees or a mortgage balance.
Existing Reservations: Do you have any upcoming reservations booked with your timeshare? You'll need to communicate this to potential buyers, as it might affect their immediate usage.
Engage with Marriott Owners Services: If you're unsure about any of your ownership details, or can't locate all your documents, don't hesitate to call Marriott Owners Services. They can provide a comprehensive overview of your ownership. You can often find their contact information on your maintenance fee statements or by logging into your online account at my-vacationclub.com. Be prepared to take detailed notes!
Step 2: Determine Your Timeshare's Value
This is often the most challenging and potentially disappointing step for many owners. Unlike traditional real estate, timeshares generally depreciate in value on the resale market. The price you paid directly from Marriott (which includes significant marketing and sales costs) is highly unlikely to be recouped.
Research the Resale Market:
Online Marketplaces: Websites like RedWeek.com and SellMyTimeshareNow.com are leading platforms for timeshare resales. Browse listings for properties similar to yours (same resort, unit size, season/points, usage frequency). This will give you a realistic idea of what your timeshare is currently selling for.
Factors Influencing Value:
Home Resort Popularity: Resorts in high-demand locations (e.g., Hawaii, Orlando, popular ski destinations) generally hold more resale value.
Unit Size and View: Larger units and desirable views (oceanfront, golf course) will command higher prices.
Usage Frequency: Annual usage is more valuable than biennial.
Maintenance Fees: Higher annual maintenance fees can deter buyers, as it's an ongoing cost.
Remaining Points (if applicable): If you're selling a points-based ownership, the number of annual points is a primary driver of value.
Market Conditions: The overall timeshare resale market fluctuates.
Be Realistic About Pricing: Many timeshares sell for significantly less than their original purchase price. Be prepared for this reality. Pricing competitively is key to a successful sale. A professional appraiser specializing in timeshares can provide a credible valuation, but this typically comes at a cost. Many reputable resale brokers offer free consultations to help you determine a competitive price.
Step 3: Explore Your Selling Options
You have a few avenues to consider when selling your Marriott timeshare, each with its own pros and cons.
Sub-heading A: Selling Through a Licensed Timeshare Resale Broker
This is often the recommended path for most sellers, especially for Marriott ownerships. Licensed brokers specialize in timeshare transactions and can guide you through the complexities.
Benefits of Using a Broker:
Expertise: They understand the market, pricing, and the specific nuances of Marriott Vacation Club ownerships.
Marketing Reach: Brokers have established networks and advertising channels to reach qualified buyers.
No Upfront Fees (Reputable Brokers): A crucial red flag to watch out for is any company demanding large upfront fees to "list" or "market" your timeshare. Legitimate brokers work on commission, meaning they get paid only when your timeshare sells.
Contract and Closing Assistance: They handle the legal paperwork, negotiations, and facilitate the closing process, including navigating Marriott's Right of First Refusal (ROFR).
How to Find a Reputable Broker:
Licensed Timeshare Resale Brokers Association (LTRBA): This association can help you identify legitimate brokers.
Referrals: Ask other timeshare owners for recommendations.
Online Research: Look for companies with strong reviews and a proven track record. Websites like RedWeek.com also offer full-service resale programs that connect you with licensed brokers.
Contact Marriott Directly (Initially): Marriott sometimes has a limited internal resale program or a waitlist for certain properties. While they generally don't facilitate resales in the same way a broker does, it's worth inquiring if they have any options or guidance for you. However, be aware that if Marriott buys it back, they may take a significant portion (e.g., 40%) of the sale proceeds.
Sub-heading B: Selling It Yourself (DIY)
While possible, selling a timeshare yourself is more complex and time-consuming and generally only recommended if you're very comfortable with real estate transactions and legal paperwork.
Platforms for DIY Sales:
RedWeek.com: Allows you to create your own listing. They have a large user base.
eBay/Craigslist: These are less specialized and come with a higher risk of encountering scams. Proceed with extreme caution.
Considerations for DIY:
Legal Expertise: You'll need to prepare a sales contract, negotiate terms, set up escrow for funds transfer, handle deed recording, and submit documentation to Marriott for title change. This can be intricate and varies by state.
Marketing Effort: You're responsible for all advertising and responding to inquiries.
Right of First Refusal (ROFR): You'll still need to navigate Marriott's ROFR process (explained in Step 4).
Time Commitment: Finding a buyer, negotiating, and completing the paperwork can take a considerable amount of time.
Sub-heading C: Timeshare Exit/Relief Companies (Proceed with EXTREME Caution)
You might encounter companies that promise a "quick exit" from your timeshare for an upfront fee. Be incredibly wary of these companies. Many are scams that take your money and do little to nothing to help you, leaving you still responsible for your timeshare and its fees.
Red Flags:
Unsolicited Calls/Messages: Legitimate companies rarely cold-call.
Guarantees of Exit: No one can guarantee an exit, especially without reviewing your specific contract.
Upfront Fees: This is the biggest red flag.
Instructions to Stop Paying Fees: This can severely damage your credit and lead to foreclosure.
High-Pressure Sales Tactics: Urging you to sign immediately.
If You're Considering This: Consult with a legitimate timeshare attorney who specializes in timeshare law and rescission. They can review your contract for any legal weaknesses or deceptive sales practices. Do not engage with companies that pressure you or ask for upfront fees.
Step 4: Navigate Marriott's Right of First Refusal (ROFR)
Most Marriott timeshare contracts include a Right of First Refusal (ROFR) clause. This means that Marriott Vacation Club has the contractual right to review any bona fide offer you receive from a third-party buyer and decide whether they want to purchase the timeshare themselves on the same terms and conditions.
The ROFR Process:
Once you have a signed purchase agreement with a buyer, the sales documents (typically handled by your broker or a title company) are submitted to Marriott.
Marriott usually has a specific timeframe (often 10-30 days) to exercise or waive their ROFR.
If Marriott exercises their ROFR, they essentially step in as the buyer, taking over the contract from your original buyer. This means they will purchase your timeshare under the agreed-upon terms.
If Marriott waives their ROFR, the sale can proceed with your original buyer.
Strategic Pricing and ROFR: The ROFR can influence your pricing strategy. If your price is too low, Marriott might exercise their ROFR to buy it back. If it's too high, you might not get any offers. A good broker will understand Marriott's ROFR tendencies and help you price accordingly.
Step 5: Closing the Sale and Transferring Ownership
Once you've cleared the ROFR hurdle (either Marriott waived it or exercised it), the closing process begins.
Title Company/Escrow: A neutral third-party title company or escrow agent will handle the transfer of ownership and funds.
They will prepare the new deed (for deeded ownerships) or transfer documents (for points-based ownerships).
They will ensure all outstanding fees are paid and the title is clear.
They will collect the buyer's funds and disburse them to you (after deducting commissions and closing costs).
Execution of Documents: You and the buyer will sign the necessary legal documents. This can often be done electronically.
Recording the Deed (Deeded Ownerships): For deeded timeshares, the new deed will be recorded with the appropriate county.
Notification to Marriott: The title company will formally notify Marriott of the ownership transfer.
Continue Paying Maintenance Fees: It is absolutely critical that you continue to pay your maintenance fees until you receive official written notification from Marriott that the ownership has been legally transferred out of your name. Stopping payments prematurely can halt the sale, lead to penalties, and negatively impact your credit.
Receive Funds: Once the transfer is complete and all conditions are met, the proceeds from the sale (minus any fees) will be disbursed to you.
Step 6: Post-Sale Confirmation
Confirm with Marriott: After the sale is complete, follow up with Marriott Vacation Club to ensure their records reflect the change in ownership and that you are no longer responsible for the timeshare.
Keep Records: Retain copies of all sale documents, contracts, and correspondence for your records.
Selling your Marriott timeshare can be a journey, but by following these steps and being informed, you can successfully navigate the process and move on.
10 Related FAQ Questions:
How to avoid timeshare resale scams?
Quick Answer: Be extremely wary of unsolicited calls, companies demanding upfront fees for listing or marketing, and those guaranteeing a quick sale or high returns. Always research companies thoroughly, check their licensing, and never stop paying your maintenance fees until the ownership is legally transferred.
How to determine the current market value of my Marriott timeshare?
Quick Answer: Research current listings on reputable timeshare resale marketplaces like RedWeek.com and SellMyTimeshareNow.com for similar properties. Factors like resort location, unit size, season/points, usage frequency, and maintenance fees heavily influence the value.
How to find a legitimate timeshare resale broker for Marriott properties?
Quick Answer: Look for brokers who are members of the Licensed Timeshare Resale Brokers Association (LTRBA) and have good reviews. Reputable brokers typically work on commission and do not charge large upfront listing fees. Websites like RedWeek.com also offer brokered services.
How to deal with Marriott's Right of First Refusal (ROFR)?
Quick Answer: Marriott has the right to review and potentially buy back your timeshare at the same price and terms you've negotiated with a third-party buyer. Your chosen resale broker or title company will handle the submission of the offer to Marriott for their review.
How to transfer the deed for my Marriott timeshare after a sale?
Quick Answer: A qualified title company or closing agent specializing in timeshare resales will handle the preparation and recording of the new deed with the appropriate county, ensuring a legal transfer of ownership from you to the buyer.
How to stop paying maintenance fees on my Marriott timeshare during the sale process?
Quick Answer: Do NOT stop paying maintenance fees until you receive official written confirmation from Marriott that the ownership has been legally transferred out of your name. Failure to do so can jeopardize the sale and negatively impact your credit.
How to sell a Marriott points-based timeshare (Marriott Vacation Club Destinations)?
Quick Answer: The process is similar to selling a week-based timeshare. You'll need to know your annual points allotment and use year. Reputable timeshare resale brokers are experienced in selling points-based ownerships and can help you price it correctly.
How to know if a buyer for my Marriott timeshare is legitimate?
Quick Answer: Legitimate buyers will typically work through a licensed broker or a title/escrow company. Be suspicious of direct cash offers that seem too good to be true, or buyers who want to bypass formal closing procedures.
How to handle outstanding mortgage balances on my Marriott timeshare when selling?
Quick Answer: You typically cannot sell your timeshare until any outstanding mortgage balance is paid off. The proceeds from the sale are often used to pay off the remaining balance as part of the closing process.
How to get out of a Marriott timeshare if I can't sell it?
Quick Answer: If selling isn't feasible, you may have limited options. Contact Marriott directly to see if they have any internal surrender programs. Avoid "timeshare exit" companies that demand large upfront fees. In some extreme cases, seeking legal counsel from a timeshare attorney may be an option if there were deceptive sales practices involved.
