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Thread: Marriott Vacation Club transfer requirements and fee info.......

  1. #1
    Diamond Club Contributor rikkis_playpen's Avatar
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    Marriott Vacation Club transfer requirements and fee info.......

    Most Marriott ownerships require a right of first refusal process in which written terms of the sale must be provided to the developer (currently via their resale dept) giving Marriott the opportunity to replace the buyer "at the same terms" if they feel the sales price is too low.

    If Marriott exercises the ROFR you should also be aware of the following:

    If the contract being transferred has a confirmed reservation less than 60 days out from the time of closing, the Seller will not be reimbursed for maintenance fees. The reservation will remain in the Seller's name regardless of how the contract is written. Marriott will also not reimburse if a reservation has not been made and the season owned shows no remaining availability. Always check your closing statement for maintenance fee reimbursement if called for in the original contract!

    If the developer exercises, they will also normally amend the original agreement to call for their choice of closing agent. To ensure this change of terms is accepted, they give the seller an additional $400. and then require the seller to pay for closing costs (which are capped at $400 if you use their choice of closing agent).. No sellers have reported any problems with accepting this condition of sale, but be aware it will be a change to the original terms.

    If your transaction was via a brokerage, in most cases the closing agent will send the broker's commission directly- but in some instances the commission will be paid to the Seller- who will then have to forward funds as needed.

    If Marriott waives the ROFR you should also be aware of the following:

    If the sale cancels or is otherwise not completed after the waiver is received, the waiver fee will still be required. As the seller, you should ensure your closing agent is aware of this and has a process in place for this issue. Marriott may hold the Seller's account responsible for this fee if the closing agent does not forward funds upon cancellation.

    *****

    Resort- Code- ROFR Timeline- Waiver Fee- Transfer Fee

    Aruba Ocean Club AB 30 days $0 $100

    Aruba Surf Club AC 30 days $0 $100

    Aspen at Streamside AS N/A $0 $75(VRI)

    Barony Beach Club BB 30 days $95 $25

    BeachPlace Towers BP 30 days $95 $25

    Birch at Streamside BI N/A $0 $25

    Canyon Villas at Desert Ridge CV 15 days $95 $25

    Cedar at Streamside CE N/A $0 $75(VRI)

    Club Son Antem Mallorca MC 30 days $95 $250

    Crystal Shores 30 days $95 $25

    Custom House CH 30 days $95 $25

    Cypress Harbour CY 30 days $95 $25

    Desert Springs I DE N/A $0 $25

    Desert Springs II DS 15 days $95 $25

    Douglas at Streamside DO N/A $0 $25

    Evergreen at Streamside EV N/A $0 $25

    Fairway Villas at Seaview FW N/A $0 $25

    Frenchman's Cove UV N/A $0 $25

    Grand Chateau VG 15 days $95 $25

    Grande Ocean Club GR 30 days $95 $25

    Grande Vista GV 30 days $95 $25

    GRC at Lake Tahoe QT 15 days $95 $50

    GRC at Mayfair London QL 30 days $95 $50

    Harbour Club at Harbour Town HA N/A $0 $25

    Harbour Pointe at Shelter Cove HP N/A $0 $25

    Heritage Club at Harbour Town HE N/A $0 $25

    Horizons at Branson HB 30 days $95 $25

    Horizons at Orlando HO 30 days $95 $25

    Imperial Palm Villas IM 30 days $95 $25

    Kauai Beach Club KA 10 days $95 $25

    Ko Olina KO 15 days $95 $25

    Lakeshore Reserve 30 days $95 $25

    Legends Edge at BayPointe LE 30 days $95 $25

    Manor Club at Ford's Colony MA 30 days $95 $25

    Manor Club Sequel MQ 30 days $95 $25

    Marbella Beach Resort MB 30 days $95 $250

    Maui Ocean Club MH 15 days $95 $25

    Monarch at Sea Pines MO N/A $0 $25

    Mountain Valley Lodge at Breckenridge MV 15 days $95 $25

    MountainSide at Park City MS 30 days $95 $25

    Newport Coast Villas NC 15 days $95 $25

    Ocean Pointe PS 30 days $95 $25

    Oceana Palms 30 days $95 $25

    OceanWatch OW 30 days $95 $25

    Phuket Beach Club PB 30 days $95 $250

    Playa Andaluza PY 30 days $95 $250

    RCC at Aspen Highlands RA 15 days $95 Varies

    RCC at Bachelor Bulch RB 10 days $95 Varies

    RCC at Jupiter RJ 30 days $95 Varies

    RCC at St. Thomas RS N/A $0 Varies

    Royal Palms RO N/A $0 $25

    Sabal Palms SA N/A $0 $25

    Shadow Ridge SR 15 days $95 $25

    Sharm El Sheik SK N/A $0 $250

    Spicebush SB N/A $0 $0

    St. Kitts Beach Club KB 15 days $95 $250

    Summit Watch SM 15 days $95 $25

    Sunset Pointe SU N/A $0 $25

    Timber Lodge TL 15 days $95 $25

    Village D'lle-De-France at Disney DP 30 days $95 $250

    Villas at Doral DA 30 days $95 $25

    Waiohai Beach Club WI 15 days $95 $25

  2. #2
    Diamond Club Contributor rikkis_playpen's Avatar
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    updated transfer fee info for some of the international transfers.

  3. #3
    Quote Originally Posted by rikkis_playpen View Post
    Most Marriott ownerships require a right of first refusal process in which written terms of the sale must be provided to the developer (currently via their resale dept) giving Marriott the opportunity to replace the buyer "at the same terms" if they feel the sales price is too low.

    <snip>
    Mountain Valley Lodge at Breckenridge MV 15 days $95 $25
    Thanks for the information. Marriott mentioned in a 2008 newsletter that there was demand for resales of platinum weeks for Mountain Valley Lodge at Breckenridge. After calling, they said something like there was 1 or 2 contracts ahead of ours waiting to be sold.

    We submitted the paperwork as soon as I could, they said we are 5th in line.

    Last year Marriott paid us $800 for rental use. MF was about $1000 so we only lost $200. This year they said they'd only give us $500 for rental when I called in December. The person said I might have gotten more if I had given it to them in January (a year ahead of time). So I took 120K points instead. I called back this month to ask what they would give me for the 2010 usage and they said $500.

    I heard they are not exercising ROFR as often so I am thinking of posting it on EBay. My husband purchased it in 1995 but never stayed there because he is always in warm weather for the winter and doesn't ski. The salesman probably told him it was a good investment.

    I believe I need to pay to be 'square trade' qualified to list travel on EBay. So that is another expense to try to sell.

    It is a nice property and a very large one bedroom. Some people have told me to try to find local realtors in Breckenridge. Has anyone had success with local realtors close to resorts?

    Thanks

  4. #4
    Diamond Club Contributor rikkis_playpen's Avatar
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    I sent you a pm..

  5. #5
    Diamond Club Contributor rikkis_playpen's Avatar
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    Updated Marriott ROFR info..

    I've attached the latest info I received from Marriott regarding the ROFR process and time lines.. I hope this clearer than the prior post.

  6. #6
    Diamond Club Contributor rikkis_playpen's Avatar
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    Marriott will require the waiver fee be paid whether or not the sale completes, so be aware that the party requesting the waiver will receive an invoice even if the transaction cancels at a later date.

  7. #7
    Diamond Club Contributor rikkis_playpen's Avatar
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    Update on Marriott info- new resorts added....

    Here is the latest update I've received from Marriott..

  8. #8
    Diamond Club Contributor rikkis_playpen's Avatar
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    Change to process for international Marriott transfers..

    There has been a change with Marriott's transfer process for international resorts.. Evidently this new process is already in place and any transfers that have not yet been completed will need to follow these procedures.

    If you are currently involved in a transaction, you may want to contact your closing agent or resale broker to ensure they are aware of the modification.

    In the past, the closing agent was allowed to prepare the transfer docs and have them executed by the buyer and seller. The closing agent then sent those docs to Marriott with the applicable fees and external transfer form to request the ownership modification.

    Now, the process requirements have been changed by Marriott.

    The closing agent will now need to submit a completed external transfer form, the transfer/processing fee, the original share certificate, and copies of the drivers license/passport for all new owners.

    Once these items are received by Marriott, an Ownership Transfer Agreement (OTA) will be created by Marriott, forwarded back to the closing agent via email for signatures and notarization. The closing agent then sends it back to Marriott to effect the transfer. A note will have to be shown in Marriott's system tagging the OTA preparation, or the transfer request will be declined (in other words, the closing agents will not be allowed to simply copy the new form to save time).

    This doesn't seem like much of a change from the prior process, but this modification does create the possibility for a delay now on the front end and the back end of a transfer request. Also, the transfer fee will have to be prepaid and is non-refundable, so the resale or closing agent will need to address that with both buyer and seller (in case one party defaults and the transfer is not completed)..

    For resorts in Aruba- the fee is $100.
    For all other international resorts- the fee is $250.
    my travel website: Vacation-Times.org.

    "A vacation is what you take when you can no longer take what you’ve been taking."
    ~Earl Wilson

  9. #9
    Wow, that was really informative. I wasn't planning on selling but I had no idea. Very good to know. I always wondered how the Marriott ROFR worked.

  10. #10
    Diamond Club Contributor rikkis_playpen's Avatar
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    Just wanted to give an update on the current timeframe for the international transfers..

    There is currently approximately a one month wait for the transfer doc preparation, and then approx 4-6 weeks delay when the completed transfer docs are sent back to Marriott before the new owner shows in their system. Allow another month for the exchange enrollment to be completed.
    my travel website: Vacation-Times.org.

    "A vacation is what you take when you can no longer take what you’ve been taking."
    ~Earl Wilson

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