Need Advice-sell/rent TS for elderly parents

My in-laws own a timeshare (Marriott Grand Chateau) in Las Vegas. I believe its 2/2 one week per year in the spring. I know the maintenance fees are $532 per year.
My in-laws have recently needed to reside in an assisted living residence and are no longer able to travel. None of their children have any interest or desire to use the weeks or own the timeshare.

Both my husband (their son) and I have power of attorney for real estate transactions. We are looking for some really good advice on the best way to sell this timeshare or possibly rent it to defer the maintenance fees. The in laws have very limited income and can't afford to keep paying the fees. How would one go about determining value?

Any information that the members can provide will be very much appreciated.

Welcome to TUG. Marriotts DO have some value- unlike most timeshares. You could sign on to eBay, type the name into the search box, then look down the left side for 'Completed Auctions' to see what they have actually sold for. That will probably be a lower number than either you want, or might advertise for.

There are brokers you can list it with (A couple are on TUG) that will charge NO UPFRONT FEE! (VERY IMPORTANT) You can pay the $15 to join TUG and list it in the Marketplace (red stripe above here) Redweek, L.V. newspaper ads, even CraigsList.

Read the 'How to Sell Your Timeshare' sticky at the top of this forum.

You will need to be sure that it is current in fees before you can sell it. You should get an estoppel letter from the resort to be able to know exactly what they own and that it is free of encumbrance.

Best wishes and good luck. With parents in assisted living, timeshares are a low priority item, but it all has to be done.

Jim

bernsgen said:

My in-laws own a timeshare (Marriott Grand Chateau) in Las Vegas. I believe its 2/2 one week per year in the spring. I know the maintenance fees are $532 per year.

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First, I would make sure you understand exactly what they own. By "2/2" I assume you mean a 2BR unit? $532 seems like a low maintenance fee for that -- is it possible an every-other-year (EOY) ownership? If "2/2" means a studio, then that sounds reasonable. Someone who owns Marriott should be able to help you out here.

Jim gave excellent advice in the previous post. Don't expect to sell the TS for much, but you are lucky that it is a Marriott and you will at least be able to sell it for something. So many timeshares are worth nothing and you end up having to pay $$ out of your pocket to get rid of it. It is good that you are dealing with this now for your parents. Good luck!

Kurt

Here's the search that was suggested.

http://www.ebay.com/sch/i.html?_sacat=0&_from=R40&_nkw=Marriott+Grand+Chateau&LH_Complete=1&rt=nc

Red did not sell

Green did.

Thank you

Thanks for the advice. I am attempting to get the exact definition. It might by an EOY but i don't think so. Like i said no experience with TS's other than research. if we can get something for them great...if not, at least it won't end up being a millstone around my sister in laws neck when she has to settle the estate!

I know the maintenance fees are correct because i pay them. I can't find the information on the my vacation club site anywhere so I contacted Marriott and am waiting to hear back.

My concern on Ebay is there no third party to handle the sale. Are there and sites that are recommended for listing TS sales? Thank you again for taking the time to reply.

bernsgen said:

My concern on Ebay is there no third party to handle the sale. Are there and sites that are recommended for listing TS sales? Thank you again for taking the time to reply.

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You can try sellingtimeshares.net
He is an active member here and has really good reviews.
Marriott will buy back or resell timeshares if they are in demand. It will be easier for you to call Marriott and see if they will buy it from you or offer to sell it for you. It's the quickest and easiest way to get out from Marriott.
Look in the Marriott forum here. There is a really long thread about it.

saw it and your post helped. It sold on ebay do you know how the transfer is made in terms of deed to property?

bernsgen said:

Thanks for the advice. I am attempting to get the exact definition. It might by an EOY but i don't think so. Like i said no experience with TS's other than research. if we can get something for them great...if not, at least it won't end up being a millstone around my sister in laws neck when she has to settle the estate!

I know the maintenance fees are correct because i pay them. I can't find the information on the my vacation club site anywhere so I contacted Marriott and am waiting to hear back.

My concern on eBay is there no third party to handle the sale. Are there and sites that are recommended for listing TS sales? Thank you again for taking the time to reply.

Click to expand...

The procedures for transferring the deed is really simple and a reputable closing company like Legal Timeshare Transfers can walk you through it.

Usually the hard part is finding a taker. In your case I don't think that will be too hard.

I would not use eBay myself for the selling but use it for getting an idea of it's going price. I did list one on eBay classifieds and got a large amount of responses.

Once you get all the details you can form a plan. Others will come on and tell you about some brokers they like and about having Marriott broker it for you. First things first.

You might want to post in the Marriott forum to get some focused visibility and responses from thos experienced with the system.


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http://tugbbs.com/forums/showpost.php?p=1547778&postcount=18

Hi and Welcome to TUG:

Scroll down our topics, and you will find a Marriott resort section. In that section there are "stickies" - topics that are always fixed at the top.
One of the topics is Marriott maintenance fees. It is where owners of each of the Marriott resorts have reported their latest maintenance fees. The post I have linked shows a figure for a 2br, 2bath EOY at Grand Chateau which is in similar to the figure you have posted as the maintenance fees.

Thank you for helping your in-laws. That is very kind of you.

All the best,
Maria

bernsgen said:

saw it and your post helped. It sold on ebay do you know how the transfer is made in terms of deed to property?

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I actually have been watching e bay for that property. Looking for a platinum week. There are 2,listed right now, so can't say what they will sell for auctions end in 2. Or 3 days.

I just sold my Marriott Grand Chateau, platinum, eoy, even, on ebay...Im paying 2014 mf and the buyer is getting the use. sale price $761 plus $199 toward closing

ronparise said:

I just sold my Marriott Grand Chateau, platinum, eoy, even, on ebay...Im paying 2014 mf and the buyer is getting the use. sale price $761 plus $199 toward closing

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What I find interesting here is that there were 66 bids and a sniper got it with 5 secs. to go. I think he was reading your posts here on TUG.

I found the description finally on the website of their timeshare. Season: Platinum
Floor Plan: 2BR + 2BA
Deed ID: VG*3008*20*E
It is a EOY...what is the platinum season mean.

That about what i was thinking in price or thereabouts. How did you sell it?

bernsgen said:

I found the description finally on the website of their timeshare. Season: Platinum
Floor Plan: 2BR + 2BA
Deed ID: VG*3008*20*E
It is a EOY...what is the platinum season mean.

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Platinum is weeks 1-51

csxjohn said:

What I find interesting here is that there were 66 bids and a sniper got it with 5 secs. to go. I think he was reading your posts here on TUG.

Click to expand...

John

you and I arent the only ones that use sniping services. . I talked to the winning bidder, and she was willing to go much higher, but no one else was. There were 68 bids but only 8 bidders.

The real question is, will Marriott let it by ROFR. If not I may keep it myself...I want to ride that new Ferris Wheel

Suggestion, call Marriott and explain your problem and ask will they buy back this resort or trying selling this resort on this website.