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Will MVCI Bite on Rite of First Refusal for Legacy Weeks?

tumultuous

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I'm interested in selling my legacy week (2BDR lockoff at Grand Chateau - Las Vegas). I know Marriott is interested in getting these old-style weeks back, so I'm wondering if I were to hypothetically get a private sale offer on the week, if Marriott would be likely to bite on the right of first refusal.

Obviously it would depend on the price, but do you think they're more likely to pay a little higher now since they're trying to get everyone converted?
 

dioxide45

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No matter what as the seller it doesn't really matter much. You get the same price no matter what. Negotiate the highest price that you can, and you will be fine.
 

tumultuous

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What if I (hypothetically) had a fabricated offer drawn up by a friend and I was really only interested in getting MVCI to bite on the buyback?
 

dioxide45

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Well, there is nothing preventing your deal from "falling through" and not being completed.
 

tumultuous

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Sure - my question is: is MVCI more likely to excerise rite of first refusal now since they are interested in re-acquiring legacy weeks?
 

tschwa2

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I think to get an idea you can request a buy back offer. https://www.marriottvacationclub.com/resales/sell-weeks.shtml
I don't think the ROFR price is going to be much if any higher. Did you check the database to see if there are any recent ROFR experiences at MGC? If you bought from the developer you are aren't going to get anything like what you paid.
 

shoeie

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What if I (hypothetically) had a fabricated offer drawn up by a friend and I was really only interested in getting MVCI to bite on the buyback?

This would, however, be fraud. Not trying to a square, but if MVCI learned of it, they could sue and demand a whole host of remedies.
 

dioxide45

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This would, however, be fraud. Not trying to a square, but if MVCI learned of it, they could sue and demand a whole host of remedies.

They COULD. Though the chances of them finding out are probably about 1%. If they find out there is probably a 1% chance they would care that much. Though it would be considered fraud.
 

BocaBoy

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If Marriott operated with this same kind of bad faith in dealing with an owner, TUGGERs would be all over them with condemnation. Hard to believe one would publicize such plans on this forum. Just sayin'.
 

SueDonJ

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If Marriott operated with this same kind of bad faith in dealing with an owner, TUGGERs would be all over them with condemnation. Hard to believe one would publicize such plans on this forum. Just sayin'.

Yep, agree completely.
 

dioxide45

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If Marriott operated with this same kind of bad faith in dealing with an owner, TUGGERs would be all over them with condemnation. Hard to believe one would publicize such plans on this forum. Just sayin'.

Yep, agree completely.

But it is more fun to pile on Marriott.
 

Saintsfanfl

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If Marriott operated with this same kind of bad faith in dealing with an owner, TUGGERs would be all over them with condemnation. Hard to believe one would publicize such plans on this forum. Just sayin'.

I agree but then again selling for $20k, buying back for $2k, then immediately reselling again for $40k while smirking (really happened) is operating in bad faith in dealing with owners IMHO. My real scenario is not fraud, but it is ruthless bad faith.

The whole timeshare sales pitch is many times the very definition of bad faith.

To the OP, the ROFR is not going to be any higher than the buyback offer. The amounts change constantly but you would be wasting time going through the trouble of a fake ROFR. Just call and ask about the buyback. It's easy.
 

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I called the Marriott Resale Department the other day. I am not interested in selling (I am a happy owner for now), but I was curious what they might offer. There is a long resale list, but they offered to bump me up and take the listing right away if I wanted. The amount they offered if they sold it for me was very tempting, and likely better by a few hundred bucks than I believe I could do on my own with much more hassle.
 

l2trade

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When Marriott resells the week, they reattach the full benefits of DC, points, etc. Their resale prices seem about twice what it would cost private party, which means the selling owner cut of the sale is very fair. The week I called about I had bought resale after the DC eligibility cutoff. It is actually tempting me to buy another private party week, knowing that Marriott is strengthening their resale operations. The question I wonder is - will this resale help from Marriott continue until the time I actually want to sell my week someday?
 

cowboy

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As long as there are suckers that buy directly from the developer.
 

SueDonJ

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As long as there are suckers that buy directly from the developer.

It's not nice to insult people by painting with such a broad brush. Or are you somebody who is intimately aware of the circumstances of every single person who ever bought a timeshare direct from the developers?
 

SueDonJ

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I called the Marriott Resale Department the other day. I am not interested in selling (I am a happy owner for now), but I was curious what they might offer. There is a long resale list, but they offered to bump me up and take the listing right away if I wanted. The amount they offered if they sold it for me was very tempting, and likely better by a few hundred bucks than I believe I could do on my own with much more hassle.

Will you consider adding your data points to the ongoing, Marriott is BUYING BACK TIMESHARES thread? Thanks.
 

s1b000

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Saintsfanfl

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I called the Marriott Resale Department the other day. I am not interested in selling (I am a happy owner for now), but I was curious what they might offer. There is a long resale list, but they offered to bump me up and take the listing right away if I wanted. The amount they offered if they sold it for me was very tempting, and likely better by a few hundred bucks than I believe I could do on my own with much more hassle.

When Marriott resells the week, they reattach the full benefits of DC, points, etc. Their resale prices seem about twice what it would cost private party, which means the selling owner cut of the sale is very fair. The week I called about I had bought resale after the DC eligibility cutoff. It is actually tempting me to buy another private party week, knowing that Marriott is strengthening their resale operations. The question I wonder is - will this resale help from Marriott continue until the time I actually want to sell my week someday?

Buybacks and ROFR's are not resold. They are added to the trust and converted to points. They will quote both numbers, the usually higher resale listing price (they keep 40%), or the lower buyback offer which is usually gross less $500.

I am not sure how or why they would "bump" you up the list. Are you sure this wasn't a buyback offer?
 

shoeie

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When Marriott resells the week, they reattach the full benefits of DC, points, etc. Their resale prices seem about twice what it would cost private party, which means the selling owner cut of the sale is very fair. The week I called about I had bought resale after the DC eligibility cutoff. It is actually tempting me to buy another private party week, knowing that Marriott is strengthening their resale operations. The question I wonder is - will this resale help from Marriott continue until the time I actually want to sell my week someday?

This is directly in opposition to what I was told when I inquired about buying a resale week directly from MVCI a few months ago(which would be the only reason I could see to purchase one from MVCI). The MVCI resale rep I spoke to told me, explicitly, that all resales, whether purchased on the open market or through MVCI, are not eligible for the DC program.
 

SueDonJ

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Buybacks and ROFR's are not resold. They are added to the trust and converted to points. They will quote both numbers, the usually higher resale listing price (they keep 40%), or the lower buyback offer which is usually gross less $500. ...

I don't think it's a hard and fast rule, what they do with the inventory they collect through buybacks. If they have a buyer waiting in the wings for a particular Week there's nothing to stop Marriott from targeting a buyback offer to owners of that Week, then turning around and selling it. Probably they don't want any part of being a recycling factory, but I'll bet if the waiting buyer makes a good enough pitch - i.e. "I'll buy 10,000 DC Trust Points if you can get me a Maui OF Christmas fixed week* - then they'll be willing to give it a try.

(* I have no idea if such an animal exists - it's an example. :eek: )

This is directly in opposition to what I was told when I inquired about buying a resale week directly from MVCI a few months ago(which would be the only reason I could see to purchase one from MVCI). The MVCI resale rep I spoke to told me, explicitly, that all resales, whether purchased on the open market or through MVCI, are not eligible for the DC program.

Weeks purchased through Marriott Resales Operations are eligible for DC-enrollment if the buyer agrees to purchase DC Points (equal to the amount of Points for which the purchased Week may be converted) within a year of the purchase transaction. Note at the link, "Special Benefits You Can Only Get Here ... Ability to participate in the Marriott Vacation Club Destinations Exchange Program (requires purchase of Vacation Club Points.)"
 

shoeie

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Weeks purchased through Marriott Resales Operations are eligible for DC-enrollment if the buyer agrees to purchase DC Points (equal to the amount of Points for which the purchased Week may be converted) within a year of the purchase transaction. Note at the link, "Special Benefits You Can Only Get Here ... Ability to participate in the Marriott Vacation Club Destinations Exchange Program (requires purchase of Vacation Club Points.)"

Interesting, when I was speaking with the rep, she never mentioned this.

However, I still can't imagine doing this, given the exorbitant cost you would incur to both buy the resale week at MVCI's inflated prices, and then on top of that pay $11-12 pp for an equal number of DC points.
 

jme

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For those who love to "pile on Marriott" or bash them as developers for selling to customers, I still maintain that because of them, our (family) lives have been enriched one hundredfold. In recent years we added several resale weeks, for which we are also grateful.

Because of our "stupidity" in initially jumping into Marriott, we have enjoyed over 15 years of traveling around the USA, Caribbean, and Europe, which we may have never done. Not only that, but we enjoy doing so while staying in 2-BR and occasionally 3-BR villas, rather than in single hotel rooms as we did "pre-Marriott". The hotel stays using Rewards Points (never turning-in for points, only acquiring our points via tours/retail purchases/bonuses,etc)
have been phenomenal too, with no cash outlay.

We've met many new friends (some dear friends) with whom we've actually spent time, and I also have something to do in-between patients all day long---i.e., participate on TUG, perhaps my chief addiction. So for me, I applaud Marriott. They are, after all, a for-profit corporation which has done pretty darn well for their shareholders, so I neither begrudge them for anything nor accuse them for pulling the rug over ANYBODY'S eyes. I certainly understood the whole deal going in.

We have many more years to benefit from our involvement, and I dare say we'll do it at a HUGE discount. Pursuing all we enjoy WITHOUT Marriott would have been more expensive. We simply CANNOT rent the same villas in the locations or high seasons anywhere near the prices we're paying now. MF's are a drop in the bucket for what we now get.

Our kids have enjoyed each and every trip. They're now Grad students and plan on continuing their own involvement with Marriott, and are quite excited to do so. They've learned well, and the world will continue to open up for them---probably even more so for them. We now have access to several additional inexpensive weeks each year via the perks of XYZ and lockoff weeks, and those are equally enjoyable with minimal cost. Since we are enrolled in DC, should we ever take advantage of that flexibility, we have 18,000 points annually to play with-----not too bad. And we're a couple months away from lifetime platinum elite, so our stays at hotels get better and better. If need be, future rentals of a few of our weeks can generate enough to offset other multiple endeavors, so I'm cool with everything. When somebody bashes Marriott, I just laugh. Somebody must have screwed up-------but we didn't.





.
 
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tumultuous

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Although I personally am unhappy with my purchase and have come to realize that it's not the right thing for me and my wife, I understand that it's a fantastic option for a lot of families for a variety of different reasons.

Just to follow-up, I filled out the buyback form through MVCI's website, and got an offer the following day for $6,900 ($6,400 after closing fees). This seems like a great deal to me compared to what similar units are going for on Redweek and the like. I guess Marriott is willing to pay a premium to get the older, legacy weeks out of the rotation.

Thank you everyone for your help! (Less thanks to those who bashed me for my hypothetical question :p)
 

SueDonJ

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Interesting, when I was speaking with the rep, she never mentioned this.

However, I still can't imagine doing this, given the exorbitant cost you would incur to both buy the resale week at MVCI's inflated prices, and then on top of that pay $11-12 pp for an equal number of DC points.

:shrug: I can't imagine spending money in a lot of ways that many other folks find completely reasonable - doesn't mean they're wrong. If we needed more timeshares and had the money, I'd consider buying Resale Weeks or DC Points direct. We have no regrets about the Marriott timeshares we've already purchased, I understand the systems well enough to make the most of whatever we might buy, and the comfort factor of working without any middlemen appeals to me. Others disagree and that's perfectly fine.
 
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