{"id":32,"date":"2015-05-16T19:19:54","date_gmt":"2015-05-16T19:19:54","guid":{"rendered":"https:\/\/shelleypreecerealty.com\/?page_id=32"},"modified":"2020-07-16T08:34:00","modified_gmt":"2020-07-16T14:34:00","slug":"seller-services","status":"publish","type":"page","link":"https:\/\/shelleypreecerealty.com\/seller-services\/","title":{"rendered":"Seller Services"},"content":{"rendered":"
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Sellers, call, email or text (801-661-1763) me today.<\/strong> Shelley Preece\u00a0Realty offers sellers a relaxed way to sell their timeshares for the highest possible returns and in the shortest period of time. We offer sellers the following services:\u00a0<\/span><\/p>\n Nationwide Exposure:<\/b>\u00a0We will promote your property to the right buyers and to our own network of Licensed Brokers and timeshare resellers.<\/p>\n No Upfront Fees or Costs:<\/b>\u00a0We pay all marketing costs and our commission is only earned after we succeed at doing the job for you - selling your ownership.<\/p>\n Realistic Pricing Assistance:<\/b>\u00a0Our years of experience insure that our sellers get the best price but still sell in a realistic timeframe. We will be realistic with you about secondary market pricing.\u00a0 We offer our sellers free comparative market analysis based on similar listings that have recently sold, listings that are on the market and remain unsold and help you to price yours to move into the sold category quickly.<\/p>\n Proven Industry Knowledge:\u00a0<\/b>TransAction Realty is a licensed real estate company, and has been in business since 1981. Owner, Shelley Preece, is a Utah licensed Real Estate Agent and a Nevada licensed Real Estate Principal Broker and the Sole Owner of Shelley C. Preece Realty, a Nevada licensed real estate company.<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div> The timeshare market is constantly changing, especially as many longtime owners approach the moment of truth -- when, for many reasons, they want or need to sell their timeshare.<\/p>\n For this guide on Selling Marriott Vacation Club (MVC), we teamed up with industry veteran, Shelley Preece of TransAction Realty. With Shelley's help, we'll explore the Marriott resale market and identify any obstacles or issues owners should consider when selling their\u00a0Marriott Vacation Club<\/a>\u00a0timeshare, including:<\/p>\n The first step in preparing to sell your timeshare is to get all your paperwork in order, to know all the basic information about your Marriott timeshare ownership. Documents to look for in your records would be your:<\/p>\n These documents should provide you with important information, such as:<\/p>\n You can also call Marriott Owners Services and the phone representatives will go over all aspects of your Marriott ownership details with you, explaining exactly what you own. Be prepared to take good notes of your conversation! Marriott phone numbers can be found on the maintenance fee and assessment notices.<\/p>\n You can also log in to your online account at my-vacationclub.com and and find information about your ownership there too.<\/p>\n If you're putting your Marriott unit up for sale, you are selling a timeshare that is either a legacy week, or part of a points package. It's important, as a seller, to understand the system you're selling. If you need a refresher, see our article\u00a0Marriott Overview - Buying Marriott<\/a>.<\/p>\n You will also need to take inventory of any outstanding reservations or commitments you have, to be able to communicate effectively to your potential buyers what is available to them. Questions to answer regarding the\u00a0current<\/strong>\u00a0calendar year as well as\u00a0the upcoming year<\/strong>:<\/p>\n You can't sell your vacation ownership if you can't tell a potential buyer what they may or may not have available to them to use this year or next for vacationing, so these answers are critical and must be absolutely accurate. Don't guess or try to remember. If you are not absolutely sure, contact Marriott Owner Services and a reservation representative will help you. Again, be prepared to take good notes of your conversation.<\/p>\n<\/div>\n<\/div>\n If you are behind on maintenance fees, taxes, and assessments, that will dampen your ability to sell. Make sure you are current on everything before you move forward.<\/p>\n Marriott holds a \"right of first refusal\" (ROFR) option on any proposed sale at most, but not all, of the resorts in the\u00a0Marriott Vacation Club timeshare collection<\/a>.<\/p>\n This means that once you have a buyer ready to buy your Legacy Week or Club Destination ownership and the buyer has signed a contract, you must send a copy of the contract to Marriott and ask them if they would like to buy it for the same price and terms (exercise their ROFR option), or not buy it (waive their ROFR option).<\/p>\n Marriott has a set number of days to reply to your request and the number of days varies by resort. You can ask if your resort has this requirement and the response time by e-mailing Marriott at owner.modifications at vacationclub.com, or use a broker who will handle this all for you.<\/p>\n If Marriott exercises this option, they will then become the buyer and will move forward with the purchase -- the buyer cannot buy it. If Marriott waives this option, you may conclude your sale with your intended buyer.<\/p>\n Please note: you must have a buyer-signed contract to send to Marriott for them to examine, and to make a determination regarding the ROFR option. It doesn't work just to contact them and ask, \"Do you want to buy this?\"<\/p>\n Marriott's decision to exercise their ROFR option is based on many factors: the price, resort, demand, matching the company's needs, and brand protection are just a few. The company also uses this right to intercept low or bargain-priced sales that would otherwise decrease demand for their retail and resale sales.<\/p>\n<\/div>\n<\/div>\n Those who buy Marriott\u00a0legacy weeks<\/strong>\u00a0on the secondary market inherit all rights to use their timeshare, reserve in advance, and exchange through II -- but they do not become members of the Destination points program (even if you elected your week to points), and they cannot convert their weekly timeshare into annual Marriott Rewards points, which are used for nightly hotel stays.<\/p>\n If you're selling\u00a0points<\/strong>, your buyer will not be able to use the product until they pay Marriott's fees to enroll in the Destinations program.\u00a0This is not necessarily bundled into the closing<\/i>, so you need to make absolutely sure your buyer understands this requirement. Marriott\u00a0increased these fees in July, 2014<\/a>\u00a0to $3,000 for ownerships of 1,500 points or less, plus another $500 for every additional 250 points. There is also a $300 education fee that will be waived if the new owner is already a Club Destination owner.<\/p>\n<\/div>\n<\/div>\n You can test your timeshare's worth by looking at asking prices for similar weeks at the same resort on RedWeek.com and other online marketplaces. The price will always depend on size of unit, view, location, season and usage (annual or EOY). For Marriott Vacaiton Club Destinations points owners, the allotment of points is the most important factor. Keep in mind, a quick check of prices on RedWeek.com will show what prices other owners are listing their timeshares for \u2014 but not necessarily what they sold them for. RedWeek's\u00a0What's My Timeshare Worth<\/a>\u00a0tool will plot historical listing prices for each resort, along with actual sales prices, as available.<\/p>\n<\/div>\n<\/div>\n The Marriott fee for Marriott Legacy Week (USA based) transfers is $25, plus a $95 Right of First Refusal Processing Fee. The transfer fees for Marriott Legacy Weeks (non USA based) ownerships vary and can be obtained by e-mailing a request to Marriott at owner.modifications at vacationclub.com.<\/p>\n For points, you will also pay the $95 ROFR research fee. Although not necessarily part of the closing,\u00a0significant fees<\/a>\u00a0are charged to the buyer before they can use the Destinations product.<\/p>\n Whether you're selling legacy weeks or Club Destination points ownerships, they are both real estate transactions, so there will be real estate closing costs involved. The closing costs will vary by state and sales price, as well as escrow and title services, title and liability coverage provided. Some costs included in such a transaction include (but not limited to): commissions, transfer fees, activation fees, estoppel and documentation fees, title transfer fees, title insurance (if applicable), stamp and tax fees, etc. Note: not all the fees listed apply to all timeshare resale transactions.<\/p>\n<\/div>\n<\/div>\n Doing it yourself, as with the sale of a home, is possible and less-expensive, but more complicated. You can easily advertise your timeshare on your own, but once you find a buyer, you will have a bit of work to do.<\/p>\n Some things to consider: You will need to prepare a sales contract, negotiate closing costs, set up escrow for the transfer of the funds, handle the right-of-first-refusal paperwork, record the deed, and submit the documentation to Marriott to process the title change.<\/p>\n If you choose to do it yourself, RedWeek.com is the largest online marketplace for timeshare, with over 2.6 million registered users. Memberships start at $18.99 annually, and you can advertise your resale -- whether a legacy week or points ownership -- for $59.99 for up to 12 months. Advertise your points directly on the\u00a0Marriott Vacation Club Destinations Points<\/a>\u00a0page, or add a resale posting directly to your\u00a0Marriott resort's page<\/a>.<\/p>\n<\/div>\n<\/div>\n If you don't want to do it yourself and want full representation, then you should list your ownership for sale with a licensed real estate broker\/agent who specializes in the sale of timeshare and vacation ownerships. This type of specialized licensed broker will research comparable sold prices, the number of identical listings on the market and their prices, and what buyers have been offering for identical ownerships and other market factors to give you valuable information about what the resale market is for your timeshare ownership. They will work with you to get it listed and set up through broker-only MLS services and other professional marketing avenues that will give you a good chance to get it sold.<\/p>\n Commissions and selling fees vary by Broker, and this amount will be discussed with you when you decide on the listing price for your ownership, and will be included in your listing agreement. You will not, and should not, pay any broker or agent a selling fee or commission, until they have sold your timeshare.<\/p>\n Here are some options for finding a broker to manage this process for you:<\/p>\n
DO NOT PAY ANY ONE ANY MONEY UP FRONT FOR ANY REASON!!<\/strong><\/p>\n\n
SELLING YOUR MARRIOTT VACATION CLUB TIMESHARE OR DESTINATIONS POINTS<\/h1>\n
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Determining What You Own<\/h2>\n
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Determining Exactly What You're Selling:<\/h3>\n
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Restrictions on Your Ability to Sell<\/h2>\n
Resale Restrictions to Disclose to Your Buyer<\/h2>\n
How to Price Your Timeshare<\/h2>\n
Closing Costs, Commissions, and Fees<\/h2>\n
Considerations for Doing it Yourself<\/h2>\n
Types of Professional Assistance Available<\/h2>\n