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Author
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Topic: Purchased resale: now what?
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Stefa
TUG MemberPosts: 40
From:
Registered: Mar 2005
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posted 05-12-2005 12:58
    
We recently bought resale at Ko'Olina and have a couple of questions. How long does it normally take Marriott to process the transfer of ownership of a private resale? We were told up to a month but I wanted to see what others' experience was. Also, I was told that there was an "owners guide" or something like that. Will Marriott send me a copy of this information or do I have to request it? Or do I need to get it from the previous owners? Anything else I should know?TIA Stefa IP: Logged |
reedps
TUG MemberPosts: 20
From:
Registered: Mar 2005
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posted 05-12-2005 20:12
I'm sorry I can't remember how long it took to process the transfer. I can tell you that we did not receive any owners guide from Marriott. My friends have a three ring binder that they got when they bought from Marriott. It details their property, how to reserve, lock off, etc. I called to see about getting one. The rep said she'd send out a welcome packet with a member card. Well, I got the member card but never received any other type of manual. Maybe someone else can shed some light?IP: Logged |
jancurious
TUG MemberPosts: 184
From: From: Roseville, CA Resorts: Marriott Waiohai, Marriott Newport Coast
Registered: Sep 2004
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posted 05-12-2005 21:10
Our experience has been that it totally depends on the resort you are buying. NCV took about 1.5-2 months to process & Summit Watch closed in about three weeks! Same agent.... Summit Watch does not have first right of refusal for buy back so that probably saved some time.When you buy directly from Marriott you receive a binder with the Governing Documents of the resort, a buyer's guide, the II resort directory & misc information on Marriott hotels & the Marriott reward guide. We did not receive any of these documents with our resales however, I can't say I wish I did. If you buy resale & join II, they will send you the resort directory which is the only book I keep referring to. If the other information is important to you, you should probably write in on your purchase contract that that binder be delivered to you as part of the sale. Jan IP: Logged |
rubycat33
TUG MemberPosts: 342
From: Northern CA Owner, Marriot Maui Vacation Club, Hyatt Highlands Inn, Carmel, CA, Embassy VC Lake Tahoe, CA
Registered: Dec 2001
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posted 05-12-2005 21:12
We bought resale at Maui Marriott. From the time we did the deal with the original owner, waited for Marriott to process the First Right of Refusal, to having our deed in hand was almost three months. Fortunately the previous owner cooperated in booking our time before the transfer was in place. And you will never get the binder unless the owner gives it to you. Frankly, we don't look at it. Everything is on line, and once you are the owner, call the owner phone numbers everything goes very smooth. It is only the sales department that refers to you as the bast*&%D child. Reservation, on site personel, are all great.
I am curious how you turned up a resale so soon. That's pretty early for a new property.IP: Logged |
Dave M
Administrator
TUG MemberPosts: 6626
From: Boston, MA
Registered: Dec 2000
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posted 05-13-2005 05:12
The owners' manuals for Marriott resorts are now generally obsolete. They have been replaced by some good info on the MVCI website. Some additional info that was in the manuals (e.g., what Marriott's commission is on rentals) is contained in the legal documents (the CC&Rs) for each resort. The only useful item I can think of from the owners' manuals that you might not find in those two sources is the layout of the buildings for a multi-building resort. You will generally receive such a map upon checking in at a Marriott resort. IP: Logged |
capekong
TUG MemberPosts: 636
From: Southeast Missouri
Registered: Mar 2004
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posted 05-13-2005 05:57
We have purchased several non Marriott resales and the resorts have always told us that we need to get it from the seller. I have yet to find a seller that has been able to produce an owner's manual. I have had a couple of resorts that have offered to sell us a manual, but we decided to try it without. The only manual I have is our first and only developer purchase.IP: Logged |
Stefa
TUG MemberPosts: 40
From:
Registered: Mar 2005
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posted 05-13-2005 06:02
quote:
Originally posted by rubycat33:
I am curious how you turned up a resale so soon. That's pretty early for a new property.
I've seen a number of listings on redweek, myresortnetwork and places like vacationregister. I actually found mine on TUG. The problem is finding one for a good price. Stefa
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Stefa
TUG MemberPosts: 40
From:
Registered: Mar 2005
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posted 05-13-2005 06:04
Thanks, everyone. I think I will contact the seller and see if he still has it. I don't care for MVC's website so I'd rather have the hard copy.Stefa IP: Logged |
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