Unlock the Value: Your Comprehensive Guide to Selling Marriott Destination Points
Are you a proud owner of Marriott Destination Points, but finding that your travel plans have shifted, or perhaps you're simply looking to monetize your investment? Selling your Marriott Destination Points can be a smart move, but it's crucial to navigate the process correctly to ensure a smooth and successful transaction.
Feeling a bit overwhelmed at the thought of selling? Don't be! This guide will break down every step, helping you understand the market, find the right avenues, and ultimately, get the best possible value for your points. Let's get started, shall we?
Step 1: Understand What You're Selling (and Why it Matters!)
Before you can sell anything, you need to understand precisely what you own and its current standing. Marriott Destination Points are part of the Marriott Vacation Club (MVC) timeshare program. This isn't the same as Marriott Bonvoy hotel loyalty points, which are primarily for hotel stays and can often be transferred or redeemed more easily. Marriott Destination Points represent a deeded real estate interest that grants you an annual allotment of points to use within the MVC system.
Sub-heading: Differentiating Your Points
Marriott Destination Points (MVC): These are timeshare points. They come with annual maintenance fees and are tied to a deeded ownership interest. Selling these involves a real estate transaction.
Marriott Bonvoy Points: These are loyalty points earned through hotel stays, credit cards, etc. While valuable for free nights and other redemptions, they are generally not "sold" for cash in the same way timeshare points are, although some third-party buyers might offer to purchase them. This guide focuses on selling Marriott Destination Points.
It's critical to know your specific ownership details:
Your Annual Point Allotment: How many points do you receive each year? This is a key factor in determining value.
Use Year: When do your points refresh annually? This impacts when new buyers can start utilizing them.
Maintenance Fees: Are your fees current? You must continue paying these until the ownership is legally transferred. Neglecting fees can derail a sale and negatively impact your credit.
Any Outstanding Balances: Do you have a mortgage on your timeshare? This will need to be addressed during the sale.
Step 2: Research the Resale Market and Set Realistic Expectations
The resale market for timeshares, including Marriott Destination Points, operates differently from the primary market (buying directly from Marriott). Expect to sell your points for less than what you originally paid. This is a reality of the timeshare resale market.
Sub-heading: What Influences Value?
Point Quantity: Larger point packages generally command higher total prices, but the price per point can vary.
Resort Affiliation (if applicable): While Destination Points are flexible, if your deed is tied to a specific "home resort," its desirability can play a role.
Current Market Demand: Like any real estate, demand fluctuates.
Maintenance Fees: Higher annual fees can sometimes deter buyers, as they represent an ongoing cost.
Developer Right of First Refusal (ROFR): Marriott Vacation Club often has a "Right of First Refusal" (ROFR), meaning they can choose to buy back your points at the agreed-upon price before the sale to a third party is finalized. This is designed to control the resale market and keep prices within a certain range.
Sub-heading: Getting an Estimate
While it's hard to give an exact value without knowing your specific details, online timeshare resale marketplaces (like RedWeek.com or Fidelity Real Estate) can offer insights into what similar point packages are currently listed for and what they've recently sold for. This will give you a good starting point for pricing. Some sources indicate Marriott Vacation Club points on the resale market can go for around $8-10 per point on average, though this can be lower.
Step 3: Explore Your Selling Avenues
You have a few primary options when it comes to selling your Marriott Destination Points. Each has its pros and cons.
Sub-heading: Option A: Contacting Marriott Directly (Marriott Vacation Club's Repurchase Program)
This should be your first point of contact. Marriott Vacation Club may have a repurchase program in place for owners who wish to exit their ownership. This can often be the simplest and most straightforward path, especially if your ownership is in good standing (no outstanding fees or mortgages).
Pros: Potentially the easiest and most secure method. Marriott will handle all the paperwork and transfer.
Cons: They may offer a lower price than what you might achieve on the open resale market, as their primary goal is to control inventory. They might also have eligibility requirements.
How to do it: Call Marriott Vacation Club directly and inquire about their "timeshare exit" or "repurchase" programs. Be prepared to provide your ownership details.
Sub-heading: Option B: Working with a Licensed Timeshare Resale Broker
Licensed timeshare real estate brokers specialize in selling timeshare interests. They understand the nuances of the market, can help you price your points appropriately, and manage the entire sales process.
Pros:
Expertise: Brokers are knowledgeable about the timeshare market and can guide you through pricing and negotiations.
Marketing Reach: They have platforms and networks to advertise your points to a wide audience of potential buyers.
No Upfront Fees: Reputable brokers typically work on a commission-only basis, meaning they only get paid when your points are sold. Be extremely wary of any company that demands large upfront fees.
Handling Paperwork and Closing: They will assist with contracts, escrow, and the transfer of ownership.
Cons: You will pay a commission on the sale, which reduces your net proceeds.
How to do it:
Research Reputable Brokers: Look for brokers with good reviews and a strong track record in Marriott timeshare sales. Examples include Timeshare Broker Associates and Fidelity Real Estate.
Get Multiple Quotes: Contact a few different brokers to compare their services, estimated selling prices, and commission rates.
Review the Listing Agreement: Carefully read and understand the terms of their agreement before signing.
Sub-heading: Option C: Listing on Online Timeshare Resale Marketplaces
Websites dedicated to timeshare resales allow owners to list their points directly. This can be a more hands-on approach.
Pros:
Potentially Higher Net Proceeds: You avoid broker commissions if you sell it yourself.
Direct Control: You set the price and manage communication with potential buyers.
Cons:
Time and Effort: You're responsible for marketing, fielding inquiries, negotiating, and finding legal/closing services.
Lack of Expertise: You might underestimate the value or encounter difficulties with the complex transfer process.
Scam Risk: Be extremely cautious of scammers on these platforms. Always use a reputable closing company and avoid direct money transfers.
How to do it:
Choose a Reputable Platform: RedWeek.com is a well-known example.
Create a Detailed Listing: Provide clear information about your points, use year, and maintenance fees. High-quality photos of Marriott resorts can help.
Be Prepared to Negotiate: Buyers on these platforms are often looking for deals.
Engage a Timeshare Closing Company: Crucially, do not attempt to handle the legal and financial transfer yourself. A timeshare closing company will ensure the deed transfer and funds exchange are handled correctly and securely.
Step 4: Prepare for the Sale
Once you've chosen your selling avenue, there are a few things to get in order.
Sub-heading: Gather Your Documentation
Original Purchase Agreement: This contains details about your ownership.
Deed (if applicable): Your legal proof of ownership.
Statements of Maintenance Fees: Proof that your account is current.
Marriott Vacation Club Account Information: You'll need access to your account to verify details and potentially authorize transfers.
Sub-heading: Be Realistic about Pricing
As mentioned, the resale market is different. While you might have paid a substantial amount, the resale value is determined by current demand and comparable sales. Overpricing your points will lead to them sitting on the market indefinitely. Listen to the advice of brokers or research current listings thoroughly.
Step 5: The Sales and Closing Process
This is where the rubber meets the road. The steps will vary slightly depending on whether you're using a broker or selling independently.
Sub-heading: Marketing and Offers
Broker: Your broker will create a listing and market your points. They will bring you offers as they come in.
Self-Listing: You'll manage your listing and communicate directly with interested parties. Be prepared to answer questions and negotiate.
Sub-heading: Negotiation and Acceptance
Once an offer is made, you'll review it. Your broker can help you negotiate if you're using one.
Consider all aspects of the offer, including price, closing costs, and timing.
Once you accept an offer, a formal purchase agreement will be drafted.
Sub-heading: The Right of First Refusal (ROFR)
This is a critical step in selling Marriott Destination Points. After a purchase agreement is signed, the contract is sent to Marriott Vacation Club. They then have a specified period (often 30-60 days) to review the sale.
Marriott Exercises ROFR: If Marriott decides to exercise their ROFR, they will step in as the buyer, purchasing your points at the exact same terms and price as the original buyer you found. This means you still sell your points, but Marriott becomes the new owner instead of the third party.
Marriott Waives ROFR: If Marriott waives their ROFR, the sale can proceed with your original buyer.
It is vital that you do not stop paying your maintenance fees during this period. The sale can be jeopardized if your account falls into arrears.
Sub-heading: Closing and Transfer of Ownership
Escrow: A reputable closing company (often recommended by your broker, or one you find if selling independently) will typically handle the escrow process. This means the buyer's funds are held securely until the ownership transfer is complete.
Documentation: The closing company will prepare all necessary legal documents for the transfer of the deed (for your timeshare interest).
Recording: The deed is typically recorded with the local county or relevant governing body, officially transferring ownership.
Disbursement of Funds: Once the transfer is complete and confirmed by Marriott Vacation Club, the closing company will disburse the funds to you, minus any agreed-upon commissions or fees.
Notification from Marriott: You should receive official notification from Marriott Vacation Club confirming that your ownership has been transferred out of your name. Only then are you truly released from the ownership and its associated fees.
Step 6: Post-Sale Considerations
Confirm Transfer: Ensure you receive official documentation from Marriott confirming the transfer of ownership.
Cease Fee Payments: Once the ownership is officially transferred, you are no longer responsible for maintenance fees. Do not stop paying them until you have this confirmation.
Tax Implications: Consult with a tax professional regarding any potential tax implications of selling your timeshare.
Frequently Asked Questions about Selling Marriott Destination Points
Here are 10 common "How to" questions with quick answers to help you further:
How to determine the value of my Marriott Destination Points?
Research current listings and recent sales of similar point packages on reputable timeshare resale marketplaces like RedWeek.com. Consult with licensed timeshare brokers for their professional assessment.
How to avoid scams when selling Marriott Destination Points?
Never pay large upfront fees to companies promising to sell your timeshare. Work only with licensed timeshare resale brokers who operate on a commission-only basis, and always use a reputable, third-party closing company for the transaction.
How to find a reputable timeshare resale broker for Marriott Destination Points?
Look for brokers with good online reviews, a long history in the industry, and specific experience with Marriott Vacation Club sales. Check if they are licensed real estate professionals in states where timeshare sales are regulated.
How to prepare my Marriott Destination Points for sale?
Ensure all your maintenance fees are current, gather your original purchase documents and deed, and understand your annual point allotment and use year.
How to handle the Right of First Refusal (ROFR) with Marriott?
After you accept an offer, the contract will be sent to Marriott Vacation Club for their ROFR review. You must wait for their decision (either to exercise or waive) before the sale can finalize. Continue paying fees during this period.
How to transfer Marriott Destination Points to a new owner?
The transfer of ownership is typically handled by a specialized timeshare closing company. They manage the legal documentation, deed transfer, and ensure funds are securely exchanged.
How to manage maintenance fees during the selling process?
It's critical to continue paying all maintenance fees until you receive official notification from Marriott that the ownership has been legally transferred out of your name. Failure to do so can jeopardize the sale.
How to sell Marriott Destination Points if I still have a mortgage?
If you have an outstanding mortgage, it will need to be paid off at closing from the sale proceeds. Discuss this with your broker and the closing company.
How to know if my Marriott Destination Points are Marriott Bonvoy points?
Marriott Destination Points are part of the Marriott Vacation Club timeshare program and represent a deeded interest with annual fees. Marriott Bonvoy points are hotel loyalty points. This guide focuses on selling the former.
How to deal with an unrealistic buyer offer for my Marriott Destination Points?
Be prepared to negotiate. If an offer is too low, you can counter with a more reasonable price or politely decline. Your broker can advise you on acceptable ranges.
