Exit strategy

[b2bailey]

I will keep this generic, except to say it is an off-season Marriott week.

= = =
Awhile back, Marriott was willing to take this week as a deed-back. I was late paying maintenance fee. Decided to keep it awhile longer.

Now I have tired of it, but it is painful to consider just giving it back to Marriott after paying their retail price.

I am trying to develop a marketing strategy that would make the week worth "something to someone" -- for instance, as a third week of ownership to get booking priority. (Is that still a thing?)

It is an unemployed week because the points allotted are a pittance.

Thoughts?

 

[b2bailey]

Laughing because spell-check changed unenrolled to unemployed when I wasn't looking.

I will keep this generic, except to say it is an off-season Marriott week.

= = =
Awhile back, Marriott was willing to take this week as a deed-back. I was late paying maintenance fee. Decided to keep it awhile longer.

Now I have tired of it, but it is painful to consider just giving it back to Marriott after paying their retail price.

I am trying to develop a marketing strategy that would make the week worth "something to someone" -- for instance, as a third week of ownership to get booking priority. (Is that still a thing?)

It is an unemployed week because the points allotted are a pittance.

Thoughts?

 

[TheTimeTraveler]

I will keep this generic, except to say it is an off-season Marriott week.

= = =
Awhile back, Marriott was willing to take this week as a deed-back. I was late paying maintenance fee. Decided to keep it awhile longer.

Now I have tired of it, but it is painful to consider just giving it back to Marriott after paying their retail price.

I am trying to develop a marketing strategy that would make the week worth "something to someone" -- for instance, as a third week of ownership to get booking priority. (Is that still a thing?)

It is an unemployed week because the points allotted are a pittance.

Thoughts?

Why not just run an ad on TUG Classifieds at a price which you think is reasonable and see if you get any takers?

Another option would be to post it eBay with a minimum reserve bid......




.

 

[Dean]

I will keep this generic, except to say it is an off-season Marriott week.

= = =
Awhile back, Marriott was willing to take this week as a deed-back. I was late paying maintenance fee. Decided to keep it awhile longer.

Now I have tired of it, but it is painful to consider just giving it back to Marriott after paying their retail price.

I am trying to develop a marketing strategy that would make the week worth "something to someone" -- for instance, as a third week of ownership to get booking priority. (Is that still a thing?)

It is an unemployed week because the points allotted are a pittance.

Thoughts?

If I'm reading between the lines correctly getting out without any costs may be about your best option. If Marriott will take it back and not have you pay any transfers that may be your bet option.

 

[Big Matt]

If it is a lock off, you can still probably get a lot of value from II trades, but if you don't have that going for you, I'd just give it back

 

[Quimby4]

Is there a thread about Marriott Buy Backs? Kids are going to college and I am tired of the planning and maintenance fees.

 

[Fasttr]

Is there a thread about Marriott Buy Backs? Kids are going to college and I am tired of the planning and maintenance fees.

https://www.marriottvacationclub.com/exit/

 

[DeeCee]

When referring to "just giving it back and not paying any fees", is that like a foreclosure? Does it effect one's credit rating?
And does Marriott buy back legacy weeks or is it just points? I'm still very new to MVC. I'm just curious, never know what the future will bring.

Thanks for any info you guys can offer.

Dee

 

[tschwa2]

Marriott doesn't generally buy back. They accept deed backs (you pay nothing and get nothing). Currently they accept most but not all paid off and up to date deeds. You have to call to find out if they will accept what you have. If you have gold or platinum US deeds the answer is most likely yes. If you have silver/bronze or non US deeds the answer might be no. What they did last year or 2 years ago may not be what they do today so you have to contact the department directly to get the current answers. Contacting does not obligate you to take the deed back. They generally send you an offer (for the deedback) in writing email or mail and you have by a certain date to accept and if you accept they will specify their first use year and which years you retain (and are responsible for MF's) .

 

[DeeCee]

Okay, thanks. So what I'm getting from your response tells me it is not a foreclosure and will not effect credit rating.
We aren't interested in getting rid of our Gold Season US deed week, I'm just gathering information. As I said, never know what the future brings.

Thanks again,
Dee

 

[Dean]

Okay, thanks. So what I'm getting from your response tells me it is not a foreclosure and will not effect credit rating.
We aren't interested in getting rid of our Gold Season US deed week, I'm just gathering information. As I said, never know what the future brings.

Thanks again,
Dee

I can't imagine this would be reported to credit bureau or even could if you just turn it in owing nothing (dues or financing). It's unlikely they would otherwise but they could. Someone here may have specific info. Technically if they took it back and forgave a mortgage, one should get a 1099 and own taxes not the forgiven amount.

 

[bazzap]

Marriott doesn't generally buy back. They accept deed backs (you pay nothing and get nothing). Currently they accept most but not all paid off and up to date deeds. You have to call to find out if they will accept what you have. If you have gold or platinum US deeds the answer is most likely yes. If you have silver/bronze or non US deeds the answer might be no. What they did last year or 2 years ago may not be what they do today so you have to contact the department directly to get the current answers. Contacting does not obligate you to take the deed back. They generally send you an offer (for the deedback) in writing email or mail and you have by a certain date to accept and if you accept they will specify their first use year and which years you retain (and are responsible for MF's) .

MVC are still accepting direct deed backs on some International properties.
I recently enquired about buyback or brokered resale of St Kitts, which they are not currently offering, but they did confirm they will accept deed backs.

 

[tschwa2]

MVC are still accepting direct deed backs on some International properties.
I recently enquired about buyback or brokered resale of St Kitts, which they are not currently offering, but they did confirm they will accept deed backs.

I am just saying that you can be pretty sure that US gold and platinum properties will be accepted without any trouble. I would certainly ask for ANY Marriott property you own and ask about the full range of exit strategies they have available. Foreign laws and low demand for bronze and silver weeks might limit the options at any given time but it never hurts to ask just don't assume that the offer today (good or bad) is the same offer that you will get 6 months or 2 years down the road.

 

[PcflEZFlng]

Marriott picks and chooses even with US-based contracts. I don't know about MVC-specific, but they are not currently taking biennial gold US-based Vistana contracts.

 

[BocaBoy]

Marriott doesn't generally buy back. They accept deed backs (you pay nothing and get nothing).

When did the buyback policy change? Historically, they did buy back weeks at a number of locations, as well as deed backs at most locations. They were actually buying back quite aggressively not many years ago. You could often net as much or more money from a Marriott buyback as from another type of external sale, other than a sale brokered by Marriott. In past years we have sold two weeks back to Marriott and sold another two weeks in transactions brokered by Marriott, including an EOY Waiohai week.