Purchase of a resale

[deniseh]

We are looking at making a purchase of a resale week through Redweek. This is a Marriott EOY week and would be for use of 2018. From what i understand from the broker, this week has been deposited in Interval. How would this work if we purchase the week? Would it be transferred to our Interval account and how would we make this happen? We would have done the same thing once we had closed on the week anyway so it is not a problem for us to have in Interval. Currently we have a Interval membership with our DP and enrolled week so I know we would have to reactivate our previous Interval membership with this resale week.

 

[Saintsfanfl]

It's possible but it is a very bad idea.

First, you can't really have a purchase contract submitted to Marriott that states usage begins in 2018 because the actual usage is not available.

Second, you won't be able to have the deposit transferred to your II account until the deal is completely done. What if the owner uses the deposit from now until then?

Third there is always the chance that II won't transfer the deposit. To my knowledge it is not an official process but it has been reported to occur.

This is a blind faith type of deal. If you are paying market value for that 2018 usage it's really risky. If you somehow do not get that 2018 deposit then you will have to pay the 2018 and the 2019 fee with usage not beginning until 2020. I would definitely move on. There are better deals out there.

 

[deniseh]

It's possible but it is a very bad idea.

First, you can't really have a purchase contract submitted to Marriott that states usage begins in 2018 because the actual usage is not available.

Second, you won't be able to have the deposit transferred to your II account until the deal is completely done. What if the owner uses the deposit from now until then?

Third there is always the chance that II won't transfer the deposit. To my knowledge it is not an official process but it has been reported to occur.

This is a blind faith type of deal. If you are paying market value for that 2018 usage it's really risky. If you somehow do not get that 2018 deposit then you will have to pay the 2018 and the 2019 fee with usage not beginning until 2020. I would definitely move on. There are better deals out there.

Thanks for educating me on this. Appreciate it and will definitely look at other options. Does Interval ever allow someone to take back their deposit?

 

[Saintsfanfl]

Thanks for educating me on this. Appreciate it and will definitely look at other options. Does Interval ever allow someone to take back their deposit?

Never ever. It is really not possible. Once the deposit is confirmed it is available for other members to exchange into.

 

[Tokapeba]

There are a lot of Marriott timeshares available for sale. What resort are you looking at, maybe someone knows where you can find a better deal on the the same EOY week.

 

[deniseh]

There are a lot of Marriott timeshares available for sale. What resort are you looking at, maybe someone knows where you can find a better deal on the the same EOY week.

Thanks, I am looking at other options. Unlike the sales presentations no pressure to make a quick decisions so I am exploring options.

 

[BJRSanDiego]

I own 3 Marriotts and am pleased with them. They trade well and I love the Marriott 22 day preference period on exchanges. The advice that you have been given is good. Once a week has been deposited it is gone. Period. The seller COULD use the deposited week to book a unit for you and put it in your name with a guest certificate ($59 IIRC). I bought one Marriott on ebay (Namel43 or pricelessvacations), one on Redweek (through Re-max as the listing agent) and one on Tug. The smoothest one was Tug followed closely by ebay. The Re-max purchase was more difficult. Neither the seller nor the agent (JK) read the very detailed offer and IMHO tried to stiff me with an additional maintenance fee. But in the end, it did close as I had expected.

My advice, if you go forward with Redweek (especially Re/Max) is to be very specific with who pays which maintenance fees.

 

[deniseh]

I own 3 Marriotts and am pleased with them. They trade well and I love the Marriott 22 day preference period on exchanges. The advice that you have been given is good. Once a week has been deposited it is gone. Period. The seller COULD use the deposited week to book a unit for you and put it in your name with a guest certificate ($59 IIRC). I bought one Marriott on ebay (Namel43 or pricelessvacations), one on Redweek (through Re-max as the listing agent) and one on Tug. The smoothest one was Tug followed closely by ebay. The Re-max purchase was more difficult. Neither the seller nor the agent (JK) read the very detailed offer and IMHO tried to stiff me with an additional maintenance fee. But in the end, it did close as I had expected.

My advice, if you go forward with Redweek (especially Re/Max) is to be very specific with who pays which maintenance fees.

Appreciate your advice. I am staying away from this resale because of this II deposit. The broker contacted me again and said i would have the II deposit, that the owners are not using it but it is too risky and possibly complicated if II would not transfer to our account. And trying to get the original owners to book a trade through II and purchase guest certificates is a headache i don't need. I can sympathize with the owner that they wanted to deposit as they may have had it listed on redweek for a while and didn't know if they would receive any offers but not something i want to deal with.