Advice on what happens when you decide to sell your timeshare.

[jewls]

you decide to sell your timeshare. We are about to pay our maintenance fees for next year. I’m assuming it’s going to take a long time to sell a timeshare.
*do we reserve a week at our home week in case it doesn’t sell right away?
*what year usage do they get .....the prices I’m seeing are just a hair over maintenance fees, so if we pay the maintenance fee we wouldn’t make anything. Is that right? We would like to at least recoup the maintenance fees. I’m not sure if I’m saying this correctly without making it sound like an ad.
*who pays closing cost?
*Do we contact one of the top 5 listed sites on tug in the resale sticky.
*I'm very confused in this process....would love as much info as possible.
Desperate to sell...we are up to date in all fees...husband has cancer and we can no longer travel as much as we did in the past.
*we also have 2 weeks pending in Interval. Do we still get to use them?
Thanks in advance
Michele

 

[bogey21]

Assuming you own Marriott the first thing I would do is call them, tell them you want out and see if they will buy it or otherwise take it off your hands...

George

 

[MOXJO7282]

What I do when i sell a week and nobody seems to do it but it definitely improves your sale potential, is to select a good usage week and advertise that with your unit for sale. I know if i'm looking to buy a week and it has a first year usage week already assigned that i can use or rent I'm inclined to be motivated to buy it and perhaps pay a premium. I then would post here on TUG and definitely Redweek.

As for the deposits with Interval, you dictate the first usage year so I would do what I suggest for the first year you can and the II weeks you already have you keep.

Good luck.

 

[bazzap]

What I do when i sell a week and nobody seems to do it but it definitely improves your sale potential, is to select a good usage week and advertise that with your unit for sale. I know if i'm looking to buy a week and it has a first year usage week already assigned that i can use or rent I'm inclined to be motivated to buy it and perhaps pay a premium. I then would post here on TUG and definitely Redweek.

As for the deposits with Interval, you dictate the first usage year so I would do what I suggest for the first year you can and the II weeks you already have you keep.

Good luck.

I guess this must suit many, but all the resale weeks we have bought we have done so with the weeks currently unassigned so that when the sale has been agreed and during the time MVC take for their completion process we can ask the seller to book the specific weeks we want to match our travel plans.
This has always worked well for us and would be our preference as buyers.

 

[Dean]

I guess this must suit many, but all the resale weeks we have bought we have done so with the weeks currently unassigned so that when the sale has been agreed and during the time MVC take for their completion process we can ask the seller to book the specific weeks we want to match our travel plans.
This has always worked well for us and woukd be our preference as buyers.

There's no major disadvantage to having the week already booked, one can always cancel and rebook subject to availability. Worst case is you get the week already assigned or a cancelation fee. OTOH, for a resort where availability is an issue (like Grande Ocean) having a week booked will often mean you'll get a better week than you can get later.

 

[bazzap]

There's no major disadvantage to having the week already booked, one can always cancel and rebook subject to availability. Worst case is you get the week already assigned or a cancelation fee. OTOH, for a resort where availability is an issue (like Grande Ocean) having a week booked will often mean you'll get a better week than you can get later.

I can understand that a pre-booked peak week could be beneficial for some to use or rent or...
We buy resale though to use as home resort weeks and never travel in peak season so would not see this as a benefit and have not (as yet anyway) found any availability issues getting our preferred weeks confirmed during the closing process.

 

[Dean]

I can understand that a pre-booked peak week could be beneficial for some to use or rent or...
We buy resale though to use as home resort weeks and never travel in peak season so would not see this as a benefit and have not (as yet anyway) found any availability issues getting our preferred weeks confirmed during the closing process.

If you're willing to travel at truly fringe times then the only situation it truly might be an issue is where the season might have already started and the earlier portion is the lighter demand time, esp where there is a split season. It's possible there might not be any weeks available once you go to reserve while previous weeks were unreserved. The point was that there really isn't a downside to having a week booked already, it's easily changeable if there is availability and an advantage if it's a good week where there isn't availability. In every situation I can think of where I bought and we couldn't reserve at 13 months out or more, I had some availability issues, including for Orlando (HL), MGO, and Kauai. The other issue where one is truly OK with traveling fringe weeks is that exchanging is almost much easier to those resorts though there are still some advantages to owning directly, the costs may ultimately be higher.

 

[bazzap]

If you're willing to travel at truly fringe times then the only situation it truly might be an issue is where the season might have already started and the earlier portion is the lighter demand time, esp where there is a split season. It's possible there might not be any weeks available once you go to reserve while previous weeks were unreserved. The point was that there really isn't a downside to having a week booked already, it's easily changeable if there is availability and an advantage if it's a good week where there isn't availability. In every situation I can think of where I bought and we couldn't reserve at 13 months out or more, I had some availability issues, including for Orlando (HL), MGO, and Kauai. The other issue where one is truly OK with traveling fringe weeks is that exchanging is almost much easier to those resorts though there are still some advantages to owning directly, the costs may ultimately be higher.

We don’t travel at fringe times, just outside of school holiday peak times.
Perhaps the difference is that we buy resale outside of the US in Europe / Phuket, with perhaps lower demand and early enough for following year availability never to prove to be an issue.

 

[MOXJO7282]

I've bought and sold many Marriotts so I'm speaking from that perspective but I know when I've looked to sell I've done much better when a very good week is assigned because in my experience when you buy, even direct from Marriott, with your first year of ownership you typically can't get a desirable week unless you travel off-season so if you assign a high demand week it will be an added incentive to buy.

 

[Dean]

We don’t travel at fringe times, just outside of school holiday peak times.
Perhaps the difference is that we buy resale outside of the US in Europe / Phuket, with perhaps lower demand and early enough for following year availability never to prove to be an issue.

My experience with US resorts other than those easy to reserve anyway (like Orlando/Branson), is that once 12 months passes it can be difficult for a good week, let alone a peak week. Plus, as I referenced before, resorts that tend to have more availability after the initial reservation window has passed are generally going to be easier to trade to for the weeks in question.

I've bought and sold many Marriotts so I'm speaking from that perspective but I know when I've looked to sell I've done much better when a very good week is assigned because in my experience when you buy, even direct from Marriott, with your first year of ownership you typically can't get a desirable week unless you travel off-season so if you assign a high demand week it will be an added incentive to buy.

Exactly, there is upside and essentially no downside to selling or buying with a top week already booked.

 

[bazzap]

My experience with US resorts other than those easy to reserve anyway (like Orlando/Branson), is that once 12 months passes it can be difficult for a good week, let alone a peak week. Plus, as I referenced before, resorts that tend to have more availability after the initial reservation window has passed are generally going to be easier to trade to for the weeks in question.

Exactly, there is upside and essentially no downside to selling or buying with a top week already booked.

All I can say is that as a buyer, unless the top week was one that I wanted or the seller was willing to cancel and rebook for a week that I did want, all other things being equal I would choose to buy an unbooked week from another seller if available in preference.

 

[Dean]

All I can say is that as a buyer, unless the top week was one that I wanted or the seller was willing to cancel and rebook for a week that I did want, all other things being equal I would choose to buy an unbooked week from another seller if available in preference.

Unless I'm missing something that doesn't make sense to me. If the seller is willing to book it, they'd be willing to cancel and rebook it. Worst case scenario is you'd have to pay the cancelation fee which you likely could get waived anyway. The only other risk is if the week is too close by the time you have control but you could anticipate that on the front end. And if the week booked is a really good one, esp one no longer available, there's tremendous upside. It can easily make $1000-1500 difference or more in the deal in terms of real value or rental. In this situation it's likely best to not get the next years week and avoid the fees where possible most of the time. The only other advantage I can think of is a very specialty situation, that is the week is unbooked and there are NO weeks available one could book. In that case you might be able to advocate for the seller to eat the dues. Barry, other than some minor simplicity in booking the week, what advantages am I missing to having an unbooked week.

 

[bazzap]

Unless I'm missing something that doesn't make sense to me. If the seller is willing to book it, they'd be willing to cancel and rebook it. Worst case scenario is you'd have to pay the cancelation fee which you likely could get waived anyway. The only other risk is if the week is too close by the time you have control but you could anticipate that on the front end. And if the week booked is a really good one, esp one no longer available, there's tremendous upside. It can easily make $1000-1500 difference or more in the deal in terms of real value or rental. In this situation it's likely best to not get the next years week and avoid the fees where possible most of the time. The only other advantage I can think of is a very specialty situation, that is the week is unbooked and there are NO weeks available one could book. In that case you might be able to advocate for the seller to eat the dues. Barry, other than some minor simplicity in booking the week, what advantages am I missing to having an unbooked week.

I guess I just like simplicity.
If I am buying another week, it is specifically to extend my planned stays at existing home resorts and I am not interested in top weeks.
So yes, a seller may agree to cancel and rebook for me, but I have never had the need to ask for this as I have always got what I wanted from sellers with unbooked weeks.

 

[DAman]

As to your weeks in Interval you keep them in your II account for your use.

Read: https://tug2.net/timeshare_advice/how-to-sell-your-timeshare.html#portfolio


1. Will Marriott sell your unit through the resale department? You should inquire. That would be the easiest.
2. Or deed back to Marriott(if they will accept a deed back) if of little to no value.
3. Pay your MF for 2019 use and deposit the week into your Interval account. When you sell it would be for first use in 2020. Note-if selling through Marriott resale you don't book your week. Due to the late date and not knowing your property or season you may have to book or lose your use.
4. Post an ad on TUG to sell your unit(or give away).
5. Closing costs are negotiated as to who pays.

Good luck. Even with a good Marriott to sell it will take time.

 

[tschwa2]

Unless Marriott can immediately put you on the list for their resale department it could take a year or even 2 years to get off the wait list and onto the actual list. That being said you may still get more by doing this even having to pay one or even 2 extra years of MF's.

Where do you own and what season? That might make a difference as to whether you should reserve a week now (I am in the group that thinks this is a good idea in most cases although if you own somewhere where it matters, you are probably already too late) or wait. We can probably give you a better estimate of the worth. Depending on what you own you might not be able to sell it for enough to cover the 2019 MF's and asking Marriott to take it back and give you nothing might be a better option.