Have you reached a point where your Marriott timeshare no longer fits your lifestyle, or perhaps the annual maintenance fees have become a burden? You're not alone! Many Marriott timeshare owners find themselves in a similar position, looking for a way to transition out of their ownership. Selling a timeshare, especially a Marriott one, can seem daunting, but with the right approach and a clear understanding of the process, it's absolutely achievable.
This comprehensive guide will walk you through every step of selling your Marriott timeshare, from understanding its value to navigating the legalities and finding a buyer. Let's get started!
A Comprehensive Guide to Selling Your Marriott Timeshare
Selling a Marriott timeshare requires patience and a strategic approach. While the resale market can be challenging, particularly given that timeshares often sell for less than their original purchase price, it is possible to successfully transfer your ownership.
Step 1: Understand What You Own (and What it's Worth!)
Before you even think about listing your timeshare, the absolute first thing you need to do is thoroughly understand the specifics of your ownership. This is crucial for accurately pricing and marketing your timeshare.
Sub-heading 1.1: Gather Your Documents
Dig out all your original paperwork. This includes:
Your Deed or Trust Certificate: This will specify whether you own a deeded week (legacy week) or Marriott Vacation Club Destinations points.
Purchase Contract Agreement: This outlines the terms and conditions of your original purchase.
Last Maintenance Fee Bill and Tax Bill: These will show your current financial obligations and provide important identifiers for your ownership.
Any Other Assessments: Be aware of any special assessments that may have been levied.
These documents will tell you critical information like:
How your name appears on the ownership (e.g., husband and wife, or in a trust).
The name of your specific resort (if applicable).
Your resort inventory number.
Whether you own a fixed week or a floating week within a season.
If you have annual or every-other-year usage.
Your current maintenance fee dues.
For points owners: your annual award month and the exact number of points.
Sub-heading 1.2: Contact Marriott Owner Services
If you're unsure about any details, or need copies of your records, don't hesitate to contact Marriott Owner Services directly. They can provide you with all the specifics of your ownership. Be prepared to take meticulous notes of your conversation! You can also often find information by logging into your online account at my-vacationclub.com.
Sub-heading 1.3: Assess Your Usage
Consider your current and upcoming usage.
Have you used your vacation time or points for the current or upcoming year?
Do you have any existing reservations?
Have you made any deposits (week or points) into Interval International?
Did you elect to convert your usage into Destination Points or Reward Points?
Have you rented your vacation usage for either year?
It's essential to be absolutely accurate about what is available to a potential buyer. If you're unsure, confirm with Marriott Owner Services.
Sub-heading 1.4: Understand Market Value vs. Purchase Price
Be realistic. The resale value of a timeshare is often significantly lower than what you originally paid for it. Timeshares, much like cars, depreciate in value once you drive them off the lot (or, in this case, sign the contract). Research similar Marriott timeshares currently listed for sale on reputable resale platforms to get an idea of the going rates. Factors influencing value include:
Home Resort: The specific Marriott resort.
Week Number/Season: For deeded weeks, a fixed prime week will generally be more valuable than a floating off-peak week.
Usage: Annual usage is typically more desirable than biennial (every-other-year) usage.
Number of Points: For points-based ownership, more points generally mean higher value.
Maintenance Fees: Higher maintenance fees can deter buyers, as they represent an ongoing cost.
Step 2: Choose Your Selling Method
You generally have two main avenues for selling your Marriott timeshare: through a licensed timeshare resale broker or attempting to sell it yourself.
Sub-heading 2.1: Working with a Licensed Timeshare Resale Broker
This is often the recommended approach, especially for those unfamiliar with timeshare transactions.
Advantages of a Broker:
Expertise: Reputable brokers specialize in timeshare resales and understand the nuances of the market, including Marriott's specific programs (Legacy Weeks vs. Destination Points).
No Upfront Fees: Legitimate brokers work on a commission basis, meaning they only get paid after your timeshare is sold. Be extremely wary of any company demanding large upfront listing or marketing fees.
Marketing Reach: Brokers have established online platforms and networks to reach a wide audience of potential buyers.
Negotiation: They will handle all negotiations with prospective buyers on your behalf.
Paperwork and Closing: They will assist with drafting contracts, navigating the Right of First Refusal (ROFR), and coordinating with title companies for a smooth closing.
Avoid Scams: Working with a licensed broker significantly reduces your risk of falling victim to timeshare resale scams.
Finding a Reputable Broker:
Look for brokers who are licensed real estate agents in their respective states.
Check for accreditations and memberships with organizations like the American Resort Development Association (ARDA).
Read reviews and testimonials from other sellers.
Always ensure they operate on a no upfront fee model. Companies like Fidelity Real Estate and Timeshare Broker Associates are frequently mentioned as reputable options for Marriott timeshare resales.
Sub-heading 2.2: Selling It Yourself (For the Ambitious)
While possible, selling a timeshare independently can be a lengthy and complex process.
Considerations for DIY Selling:
Marketing: You'll need to create compelling listings on online marketplaces (be cautious of platforms that charge high upfront fees without proven results).
Pricing: You'll be solely responsible for setting a competitive price based on your market research.
Negotiation: Be prepared for direct negotiations with buyers, who may try to lowball you.
Legal Knowledge: You'll need to understand contracts, deeds, and the transfer process, including Marriott's Right of First Refusal (ROFR).
Closing: You'll need to coordinate with a timeshare-specific title company to handle the escrow and deed transfer. Do NOT attempt to handle the financial and legal aspects yourself.
Step 3: Set a Competitive Price
This is where your research from Step 1 comes into play.
Research Comparable Listings: Look at currently listed Marriott timeshares that are similar to yours in terms of resort, unit size, usage type (fixed week/points), and usage frequency (annual/biennial).
Be Realistic: As mentioned, expect to sell for less than your original purchase price. Overpricing will only prolong the sale.
Factor in Maintenance Fees: High outstanding maintenance fees can significantly impact a buyer's willingness to purchase.
Consider Broker Input: If working with a broker, they will provide a market analysis and recommend a selling price, but you ultimately set the price.
Step 4: List Your Timeshare and Market It
Once you've decided on your selling method and price, it's time to list!
High-Quality Photos: If you're selling yourself, use clear, attractive photos of the resort and unit. If using a broker, they will likely assist with this.
Detailed Description: Provide an accurate and appealing description of your timeshare, highlighting its benefits (e.g., resort amenities, flexible points, desirable location, usage availability).
Transparency is Key: Be upfront about all details, including maintenance fees, usage type, and any outstanding reservations. Honesty builds trust with potential buyers.
Online Presence: If using a broker, they will list your property on their specialized timeshare resale websites. If selling independently, consider reputable timeshare listing sites.
Step 5: Navigate Offers and Negotiations
Once your timeshare is listed, you'll hopefully start receiving offers.
Be Prepared to Negotiate: Buyers will often submit offers below your asking price. Your broker will facilitate these negotiations. If selling independently, be firm but flexible.
Address Buyer Concerns: Buyers may ask about existing reservations, available points, or the status of current year's usage. Be ready with accurate answers.
Review All Terms: Don't just look at the price. Understand all the terms of the offer, including who pays closing costs, transfer fees, and any other conditions.
Step 6: The Right of First Refusal (ROFR)
This is a critical step specific to many timeshare sales, including Marriott.
What is ROFR?: The Right of First Refusal is a clause in most timeshare contracts that gives the original developer (Marriott, in this case) the option to review any bona fide offer you receive for your timeshare. They have the right to step in and buy your timeshare back under the same terms and conditions as the offer you received from your buyer.
The Process: Once you accept an offer and a purchase agreement is signed, your broker (or you, if selling independently) will submit the contract to Marriott for their ROFR review.
Marriott's Decision: Marriott will typically have a set number of days to respond.
If Marriott exercises ROFR: They will buy your timeshare, and the original buyer's contract will be voided.
If Marriott waives ROFR: They decline to buy your timeshare, and the sale can proceed with your original buyer.
Why it Matters: ROFR can sometimes add a delay to the closing process, but it's a standard and necessary step.
Step 7: Closing the Sale and Transferring Ownership
Once the ROFR is waived, the closing process begins.
Retain a Timeshare Title Company: This is essential. A specialized timeshare title company will act as a neutral third party to:
Verify ownership details and ensure a clear title.
Hold the buyer's funds in escrow.
Prepare and record the new deed (if deeded ownership).
Notify Marriott of the ownership transfer.
Disburse funds to you (the seller) once the transfer is complete.
Handle payoff of any existing loan on the timeshare (if applicable).
Continue Paying Fees: It is imperative that you 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. Stopping payments prematurely can complicate or even derail the sale and negatively impact your credit.
Electronic Signatures: Many reputable title companies facilitate electronic signatures, making the process convenient even if parties are in different locations.
Receive Proceeds: Once the transfer is complete and all funds are disbursed, you will receive the proceeds from the sale, less any agreed-upon commissions or closing costs.
Step 8: Post-Sale Confirmation
After the closing, ensure you receive:
Confirmation of Ownership Transfer: A document from Marriott officially stating that the timeshare is no longer in your name.
Closing Statement: A detailed breakdown of all financial transactions related to the sale.
Related FAQ Questions (How to...)
Here are 10 common "How to" questions related to selling a Marriott timeshare, with quick answers:
How to check my Marriott timeshare details?
You can check your Marriott timeshare details by reviewing your original deed, purchase contract, and most recent maintenance fee bill. Alternatively, log into your account on my-vacationclub.com or contact Marriott Owner Services directly for assistance.
How to determine the fair market value of my Marriott timeshare?
To determine the fair market value, research current listings of similar Marriott timeshares on reputable resale websites. Factors like resort location, unit size, usage type (fixed week/points), usage frequency, and maintenance fees will influence the value. Consider getting a market analysis from a licensed timeshare broker.
How to avoid timeshare resale scams?
Avoid timeshare resale scams by never paying large upfront fees for listing or marketing. Only work with licensed real estate brokers who operate on a commission-only basis (they get paid after the sale closes). Be wary of unsolicited calls guaranteeing a sale or high returns.
How to choose a legitimate timeshare resale company for Marriott?
Choose a legitimate timeshare resale company by verifying their real estate license, checking their accreditation with organizations like ARDA, reading online reviews, and confirming they operate on a no upfront fee model. Reputable companies for Marriott include Fidelity Real Estate and Timeshare Broker Associates.
How to handle Marriott's Right of First Refusal (ROFR)?
Marriott's ROFR means that after you accept an offer, the contract must be submitted to Marriott. They then have the right to purchase the timeshare themselves under the same terms. Your chosen broker will handle this submission and communication with Marriott.
How to transfer the deed of my Marriott timeshare to a new owner?
The deed transfer process is typically handled by a specialized timeshare title company. They will prepare the necessary legal documents, record the new deed with the appropriate county, and officially notify Marriott of the change in ownership after the sale closes.
How to ensure I stop paying maintenance fees after selling my Marriott timeshare?
You must continue paying maintenance fees until you receive official written confirmation from Marriott that the timeshare ownership has been legally transferred out of your name. Your title company will facilitate this official notification as part of the closing process.
How to sell Marriott Vacation Club points?
Selling Marriott Vacation Club points follows a similar process to selling a deeded week. You'll need to know your annual point allotment and use year. Licensed timeshare brokers specializing in points-based systems can help you list and sell your points effectively, focusing on the available points and potential usage for the buyer.
How to find out what closing costs are involved when selling a Marriott timeshare?
Closing costs typically include a transfer fee from Marriott, a Right of First Refusal (ROFR) waiver fee, and the fees charged by the title company for their services. A reputable broker or title company will provide you with a detailed breakdown of all anticipated closing costs.
How to get out of my Marriott timeshare if I can't sell it?
If selling proves difficult, you might explore other options such as contacting Marriott directly to see if they have a "deed-back" or exit program (often for owners in good standing with no outstanding mortgage). You could also consider gifting it, though the recipient would inherit the maintenance fees, or exploring timeshare exit companies (proceed with extreme caution and thorough research, prioritizing those with a proven track, positive reviews, and no upfront fees).
