ask-redweek-will-marriott-buy-my-timeshare-back

Could you comment on if there is a buy back program for Diamond Resort members?

Diamond Resorts introduced a "Transitions" program two years ago, but it is not a full-scale exit program. Diamond will take back intervals that it wants to resell. It will not take back all intervals. The program is discretionary on Diamond's part. It is only offered, so far, to members of Diamond's Club. It is not available to members of other clubs that were acquired by Diamond (Intrawest, among others). Owners who want to surrender their Diamond weeks should call owner services for information and details. Diamond does not offer a buy-back program. It advises owners who want to sell their timeshares to use timeshare realtors and third-party listing companies (such as RedWeek). Diamond also enforces, periodically, its ban on owners who try to rent their units.

Great report. I own a platinum week at Marriott Newport Cost Villas. Don't plan on selling at this time Wondering if also the perks go along with the new owners? Like what you get with the Marriott Vacation Club.

I own a prime week at a Starwood property (Vistana) in Princeville Kauai do you know who or how I might sell my property now that they 2 companies have merged?

I HAD NO LUCK WITH MARRIOTT WHEN I APPROACHED THEM A FEW YEARS AGO ABOUT BUYING BACK MY 2 WEEKS OF TIMESHARE IN ST KITTS. THERE WERE NUMEROUS MISREPRESENTATIONS GIVEN. (LIES ?) AND I GOT NOWHERE. I HAVE THE 2 WEEKS WITH DEEDS. I NOW RENT THESE AND MAKE A PROFIT ON THEM. COULD BE WORSE ! HOWEVER, I WILL NEVER AGAIN TRUST MARRIOTT VACATION CLUB AND LUCKILY DID NOT BUY INTO THE DESTINATIONS PROGRAM WHICH WOULD HAVE INVOLVED PAYING MORE MONEY TO THEM.

We originally bought thru Vistana with 8 properties. This is based on a point system on time you have per year. Has concerned me with coming to the age of SS income & no company retirement benefits. Any time have called Vistana asking about a buy back or timeshare exit, they have shown no concern with a person's situation. Basically a flat No answer. This is a very uncomfortable scary situation that someone is stuck when they paid for something & have a deed for property. Does Marriott treat a person's situation of needing to sell the same as Vistana?

I just called Marriott regarding my Platinum timeshare at Atlantis which is High Season. It was a Starwood property (Vistana) They said they have NO program at this time to offer about release from this timeshare. Yes, just a blanket outright "NO".

Here is a shorter answer: NO. That is why there is a class action law suit in affect today in Florida. It deals with devaluing the points, fraud of the sales pitch and other salient issues. For you poor guys that bought into the points, you have a smaller pool of travel/vacation experiences. By this I mean, with the deeded 2 weeks that I have in Marriott's Desert Springs Villas 1, I have ways I can sell/trade it in at INterval, Redweek, even craigslist. What do the points have in this regard...nothing. I mean...how do you trade the points for one week at XYZ. Maybe it is possible but I don't kniow. I also can deduct the depreciation of the real estate asset itself...not so with points. I always go the presentations...to get the $150.00 coupon for dinner. IN the presentations I always bring the law suit and the possibilty of buying the points back or selling in the open market. There is a flat NO and the mechanism for the open market is not really defined. ANyway, my ten cents.....Happy New years guys.

No, you will not get anything from your investment, whatever you have paid. My advise, to no deal with them. This is the type of answer you will receive, and this is not a joke!

"At this time, MVW is offering an opportunity for you to relinquish your ownership, a direct deed back, at no cost to you. While this transaction will not result in any financial proceeds, it is a quick way to exit the program and eliminate your ongoing annual maintenance fee commitment. The anticipated time to complete the ownership transfer is 90 days. The first-year occupancy to MVW will be 2021; therefore, you will retain any remaining usage balance for prior years and you will be responsible for the maintenance fees associated with those use years.* Any usage option or reservation you have made for 2021 will be cancelled. Should you subsequently terminate the repurchase transaction, we cannot guarantee the reinstatement of any 2021 reservation or usage option that may have been previously confirmed for you. The offer to deed back your ownership is valid for the next 7 business days and is subject to change at any time with or without notice."

I once received that same message. I think the additional slap in the face is that at least in St Kitts, MVC gets a first right of refusal even if you find your own buyer. I don't think they would use it but who knows ? I finally opted for the Destinations Program. I resisted for years but suddenly found out that there is no longer a fee to join it. Found this by accident while speaking with someone at MVC. Now I can use the week, rent it myself, or take the points for some sort of vacation elsewhere. I am not surprised that there are law suits. I was clearly told that Marriott would assist with a re-sale, with a rental (never once have they accepted it), or trade for Bonvoy points which does NOT give you anything remotely equivalent. Live and learn.

Just came across this forum and thought I would throw my 2 cents in.At one point I owned a red week with Marriott at Royal Palms in Orlando and probably about 10 yrs later purchased a blue week at Marriott Grande Ocean Resort in Hilton Head. Marriott was one time color blind and you could trade a blue week for a red week usually with very little problem by just paying the Interval Int fee. Then they wised up and blue was not much benefit unless you enjoyed traveling in the off season. I purchased my Grande Ocean week at a Marriott Resale Center located in a villa on the grounds of the Grand Ocean resort in 2000. The Marriott Sales Center was charging $9k for a blue week and the Marriott Resale Center charged $5.5 K.... so I saved quite a bit and got all the benefits since it was sold by Marriott themselves. Several years after purchasing at Grand Ocean I decided to sell the unit at Royal Palms. Back then Marriott had a program to sell your unit. There was a ridiculous commission of 30% or 40% as I recalled but it included all fees. It took awhile but they actually sold it and I even made a few dollars off the sale. Fast forward to now about 17 yrs later and I want to unload the Grande Ocean week. Its still a great place, and they keep it like new, for a price. My maintenance fee has gone from about $750 when purchased around 2000, to something like $1461 now in 2020. It is no longer worth it as I no longer have the same family situation and no longer bring 6 or 7 people with me. The other thing that rubs me the wrong way is that I like to go down in early December..... no crowds, no heat, no bugs. Thing is I find a lot of people there at this time bought cheap timeshares (only paid a few hundred $) with much cheaper maintenance fees then trade them through places like RCI and II and end up staying there a lot cheaper than what I paid in maint. fees each year. Furthermore they have no obligation to continue paying the unreasonable fees Marriott passes along to its owners years after years. Marriott does now offer a buyback program but only for limited resorts and limited seasons. They will pay you pennies on the dollar and turn around and sell it again at an exaggerated price. If they opt not to repurchase the week they may offer you a way to unload it with their deed back program. You walk away with absolutely nothing but they do pick up the closing costs, transfer fees etc. If your objective is only to avoid paying the maint fee in the future the program works just fine. Whatever you invested in it initially (use the term invested loosely) is lost. It's tough to even give one of these away these days let alone recoup some of your capital. With a deeded week the obligation exists in perpetuity and is passed on to your heirs. Over the past few years I have checked with a number or realtors and the legit ones which take no upfront money have no interest in attempting to resell them on your behalf. You can always find plenty of companies that tell you what you want to hear but also take a good bit of money upfront. Typically that will be the last you hear from them unless you want to extend the contract with them...... for another fee of course.

I own several weeks at Baja Point in Cabo San Lucas. MVC says they do not offer resales at this location and don't know if they ever will. Thanks for the help MVC.

If I have a Westin kanapali 2 bedroom lock off and want to see. How do I go about it ?

I own a Gold Holiday week. at Marbella Beach Resort. To book a week at this resort requires difficult time variations as it is extremely popular at half term in October and when children change schools you cannot book until you know their holiday dates. This year I booked as soon as I could (over a year ago) and could not get the Saturday arrival as far ahead as that proving that it is a VERY popular resort as well as holiday period

We were supposed to get $4,000 for selling Marriott club points through a broker with the buyer paying closing costs. Marriott pulled their right of first refusal and we wind up with $1,500. THAT is a ripoff! We are of an age where we no longer travel that much. Anyone reading this, DON'T buy points! Signed, wife of Robert.

Marriott vacation club does not have a resale or buy back program and what ever information they have posted on their website regarding this is fraudulent. I contacted MVC exit program and the only 2 options they offer are as below, 1. Owner can try selling timeshare in open market. 2. Deed Back - relinquish all rights with no financial benefit but will be relieved from paying yearly maintenance. We were told at the time of purchase that MVC will buy back the points if we plan on selling our timeshare also mentioned 2000 points is a great way to start but we realized everything they said is a lie. MVC do not buy back nor those 2000 points are of any use as almost all the locations are way too costly or never available so we are stuck with those unless points and even loose those because of their stupid expiration policy.