Marriott Timeshare?

[Quimby]

I know this is for DVC but you are all so knowledgeable and helpful, I would like to get some opinions.

I have the opportunity to purchase a Resale for less then $4000 incl. closing costs.

Marriott Grande Vista in Orlando
2 Bedrooms + 2 Bathrooms
Gold Season (trades Red year round with Interval Int.)
Maintenance Fee $700 / year
Every year usage, lifetime deed.

We are on the West Coast and do not plan on going to FL but are members of II and would like the benefit of trading Marriott priority in II, plus having 2 bedroom trading power.

I would appreciate any thoughts or opinions.

 

[JimC]

Go to here for information on MVCI:

TUG MVCI Forum

 

[Dean]

That's a good deal if it's truly an EY 2 BR unit and there are no hidden charges. It's only an OK deal if it's EOY. But Marriott likely also has ROFR and this likely will not pass but you never know.

 

[bmoncher]

We don't have Marriott, but do own a 3bed/3bath timeshare with 700 yearly maintenance in Florida.
We use it every other year and we trade with RCI everyother year.
We purchases a resale for 5k... Personally, I like it... we have stayed in many resorts we would not normally be able to stay in since the cost is so high (IE Smuggler's notch for a 3 bedroom is over 1700 a week in prime season...)

Good luck with what you decide!

 

[HM]

$4000 sounds like an awesome deal.

We own a week of a Marriott in HHI. We bought for around $20000. Our annual fees have skyrocketed though....around $620 when we bought 7 years ago...this year $1190 ($250 one time fee added). So, you might want to check to see how much the dues have risen over the life of the timeshare so far before buying.

 

[mydogdrew]

If the annual dues exceeed the underlying value of the room then it's a worthless investment. If fact, it's a liability where that lifetime deed becomes a curse. Of course, Marriott has a good reputation so it's probably not bad but be sure to evaluate the possibility the dues could pull you under water in the near future. That's a risk with DVC as well but much less so.

 

[Dean]

If the annual dues exceeed the underlying value of the room then it's a worthless investment. If fact, it's a liability where that lifetime deed becomes a curse. Of course, Marriott has a good reputation so it's probably not bad but be sure to evaluate the possibility the dues could pull you under water in the near future. That's a risk with DVC as well but much less so.

Remember it also gets you the Marriott trade preference and it's likely useable as a lockoff as well.

 

[Caskbill]

Don't forget that to trade, you must join II which is about $80/year. (Discounts if paying for multiple years ahead of time) Of course being current II members you already know this.

Then when you do trade, there is another fee of about $80 to make the trade.

That's just to trade your Marriott for another Marriott.

Be sure to include these costs as part of your annual requirements.

 

[JimC]

And you only get the discounted Marriott internal trade fee if you look only at Marriotts. Include non-Marriott's and you pay the higher fee.

 

[BroganMc]

I have the opportunity to purchase a Resale for less then $4000 incl. closing costs.

Marriott Grande Vista in Orlando
2 Bedrooms + 2 Bathrooms
Gold Season (trades Red year round with Interval Int.)
Maintenance Fee $700 / year
Every year usage, lifetime deed.

That's a good price on resale. My Marriott purchases for this resort were: Platinum week $18k (in '02) and Gold was quoted as $15-16k this year. My last equivelant purchase was a Gold week at Cyress Harbour for $13.9k in '04.

I trade all the time through II. Availability is good throughout the year with the exception of getting a 2 bedroom in Hawaii, Myrtle Beach and Hilton Head (during the summer months).

Dues haven't risen that dramatically on GV and CH since we've owned. Both are still far cheaper than DVC.

Only downside is Gold weeks don't trade for as many Marriott points (70-90k vs. 110k for platinum). I assume you'd keep your rights to trade for points and all other Marriott privileges on resale?

Oh, one other downside, since it's an Orlando resort you won't be able to easily trade for a Disney week. Everything but them in Orlando. On the bright side, if you watch II you might be able to snag a 3 bedroom with your two bedroom deposit. I did it for two weeks in October a year ago.

It's also a very nice resort. Rooms are slightly bigger than most DVCs, along the line of OKW. I resisted staying there at first because I fell in love with Cypress Harbour, but it's won me over. If I had to do anything over again it would be to buy Gold weeks instead of Platinum since I find I'm just not going in Platinum season anymore.

 

[littlestar]

Good luck on passing ROFR through Marriott. That would be a fantastic deal.

 

[Quimby]

Good luck on passing ROFR through Marriott. That would be a fantastic deal.

I'm guessing your referring to First Right of Refussal from Marriott. When does this happen? What happens to the $350 closing cost and title fees if Marriott blocks the purchase?

Thx

 

[Diznut84]

I believe that would also have an "Orlando block" so that you would not be able to trade it back into DVC.

 

[Quimby]

I believe that would also have an "Orlando block" so that you would not be able to trade it back into DVC.

What is an Orlando block?

 

[littlestar]

If Marriott doesn't pass on the right of first refusal, you should get your money back if Marriott buys it.

We've got friends that are waiting on ROFR on a fantastic Marriott deal right now (I hope Marriott lets the purchase go through). They had thought about DVC points, but they didn't like that DVC has an expiration date (right to use).

Diznut was referring to DVC having a block on another Orlando timeshare trading into DVC through II (for like a 50 mile radius). You could use Grande Vista to trade into Disney's Vero or Hilton Head through II. Although, I would rather trade into a Marriott on Hilton Head (Marriott has the better locations).

With you living in California, one of the neat things about owning with Marriott would be the 3 day hold in II for Marriott to Marriott exchanges in flex change (59 days or less of check-in). If you can travel short notice, I've seen some fantastic Marriott Hawaii weeks in flex change on II. If I lived in California, I'd probably take advantage of them.

 

[Quimby]

If Marriott doesn't pass on the right of first refusal, you should get your money back if Marriott buys it.

We've got friends that are waiting on ROFR on a fantastic Marriott deal right now (I hope Marriott lets the purchase go through). They had thought about DVC points, but they didn't like that DVC has an expiration date (right to use).

Diznut was referring to DVC having a block on another Orlando timeshare trading into DVC through II (for like a 50 mile radius). You could use Grande Vista to trade into Disney's Vero or Hilton Head through II. Although, I would rather trade into a Marriott on Hilton Head (Marriott has the better locations).

With you living in California, one of the neat things about owning with Marriott would be the 3 day hold in II for Marriott to Marriott exchanges in flex change (59 days or less of check-in). If you can travel short notice, I've seen some fantastic Marriott Hawaii weeks in flex change on II. If I lived in California, I'd probably take advantage of them.

Thanks for the info.

How long have your friends been waiting to hear from Marriott? What are they looking to purchase? Do you think mine is a good deal? I do plan on trying to trade into Hawaii a lot if possible.

 

[Dean]

I'm guessing your referring to First Right of Refussal from Marriott. When does this happen? What happens to the $350 closing cost and title fees if Marriott blocks the purchase?

Thx

You should get any money back if Marriott takes it ROFR. Marriott doesn't have the option on many properties, esp if they are a little older. I don't know about GV but suspect they may not on the earlier section and do on the later sections. Part of GV is not in the Fl Club if this is an issue.

You do not get the points option on a Marriott resale unless that resale is handled through Marriott itself. Unlike DVC, the price difference is almost always large enough to make buying retail not reasonable. The points are not a reasonable reason to do so unto themselves. The only reasons I'd buy retail would be for a new property or something I didn't think I could get resale like a fixed week or ocean front unit in a brand new property. I have likely owned 35-40 different timeshare ownerships over the years and bought exactly 2 retail. One was AKV, 100 pts. The other Marriott's Surfwatch after 3 previous Marriott resale purchases. However I was able to convert my two other Marriott's I bought resale into the points option as part of that purchase else I likely would not have made it either. I doubt this will pass ROFR is Marriott has that option.

As for extra fees, that comes up on this BBS with Marriott and others from time to time. It's true one has to join II and pay yearly fees, have the main fee and have an exchange fee even to other Marriott's. But one can own any 2 BR Marriott, pay the yearly II fee, pay the FL club fee and pay the highest exchange fee possible and still come out cheaper than a comparable DVC ownership in essentially every case other than the HI properties which would be about break even. The exception being those DVC members that own to stay just Sun-Fri consistently.

 

[Quimby]

"Part of GV is not in the Fl Club if this is an issue."

Dean, Thanks for all the info.

What do you mean that part of Grande Vista is not in the FL Club? I do not anticipate ever staying at the home resort and meerly want to use it to trade with II for the Marriott priority, however I have traded with II for my current property @ the Palm SPrings Tennis club and gotten into Marriott Newport and Westin Maui (2 x's)...maybe I was just lucky!

 

[Dean]

"Part of GV is not in the Fl Club if this is an issue."

Dean, Thanks for all the info.

What do you mean that part of Grande Vista is not in the FL Club? I do not anticipate ever staying at the home resort and meerly want to use it to trade with II for the Marriott priority, however I have traded with II for my current property @ the Palm SPrings Tennis club and gotten into Marriott Newport and Westin Maui (2 x's)...maybe I was just lucky!

The FL club is a system where you can trade directly with other members of that club. They include Doral, PC, Beachplace, Ocean Point and part of GV but not all. There is a mandatory yearly fee whether you actually ever use the option or not. It allows you to reserve at different resorts in the club, do split stays and the like. I think it's currently $39 per year or so it was the last I heard. The Marriott internal trade option is a great benefit but it is not absolute. You still have to meet the trade power test to get a Marriott unit in the II system. So it's possible you could be the only one searching and what you want comes in to II but they don't give it to you because you don't have enough trade power or resort quality to match it.

As a rule I would never buy in Orlando unless I intended to stay there at least part of the time. But sometimes such great deals come along that they defy the generalizations. If this GV is a lockoff and there are no funny issues going on like being behind on fees, this deal likely falls into that category. However fees are generally fairly high for Orlando and there are properties that will be cheaper over the long term even if not as good a deal up front.

 

[Quimby]

So it sounds like you're saying, if the deal is legit, that it is too good to pass up...??

This transaction was started over a year ago however the closing company advised the seller and I that it had to go through Florida probate which has been just completed. The owner passed away and the daughter inherited it.

It is a 2 bedroom 2 bath lock off. 2007 Maintenenace fees and taxes were already paid in full, $790/ year.

Gold Season which is May, Sept, Oct, Nov, and Dec. II shows it trades RED year round.


Thanks again for all your advice!