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Looking for a Marriott Vacation Club timeshare in Maui or Kauai
kimo152 wrote:I am looking to buy a timeshare. What are some questions I need to ask? How do I know which week I get? What is Floating?
Floating is the opposite of fixed. Fixed means you get the same week each year such as Week 10 which would be in early March. Floating means that you can get a different week each year. Keep in mind that there might be restrictions based on demand and availability. For instance, if your underlying week is week 10 (which might be a low-demand week), the resort might restrict you from booking a high-demand week such as around Christmas.
Also, remember for floating that the prime weeks are scooped up very quickly. In some resorts, they allow owners to book as far out as two years in advance (although the more common time frame is about one year). Can you see yourself booking a week 12 months ahead of time?
As for what questions to ask before buying a timeshare, some basic soul-searching questions are:
1) Will I be able to afford the maintenance fees each year (which usually come right after Christmas)? 2) Does this week jive nicely with my travel schedule? 3) How much will it cost me and my family to get to and from the location each year (airfare to Hawaii can be costly)? Is that affordable for us? 4) Can I perhaps rent a week from a current owner for about or even less than the maintenance fees? 5) What will we do if one year we can't (or do not want to) travel to this destination? Do I know well the procedures for exchanging or renting out? 6) What will I do if/when the time comes that this timeshare is no longer suitable for our travel preferences?
IF you are new to this timesharing thing, it is generally recommended that you take a few months to do research on the ins and outs of timeshares before purchasing anything, even if it's being offered to you for free. Also, you can "try before you buy" by renting at a resort to see if this is right for you. Remember, cheap deals for buying timeshares will be available for years to come. But, if you read a number of posts and threads on these forums, getting rid of a unit when you no longer want it (or can afford the maintenance fees) can be a real headache.
Lance C.
Is it better to buy directly from Marriott or from broker or owner? Spoke to Marriott rep today and he said that Marriott has right of first refusal in all sales. Is it also best to buy every other year or every year so we can rent it out if we don't use each year?
Kim O.
kimo61 wrote:Is it better to buy directly from Marriott or from broker or owner? Spoke to Marriott rep today and he said that Marriott has right of first refusal in all sales. Is it also best to buy every other year or every year so we can rent it out if we don't use each year?
If you are going to buy, I would buy a resale from a current owner or a licensed resale broker. Buying directly from Marriott would cost you a lot more. Check ads here on RedWeek. You can also check E-Bay, Craigslist, My Resort Network, or Timeshare Users Group (aka "TUG") for people looking to sell their unit.
Right of first refusal (ROFR) is simply a policy that many timeshare companies have in place. It means that if an owner wants to sell his unit, he has to let Marriott know what the agreed-upon price is. If Marriott deems that the price is too low, it has the right to buy the unit back from the owner for that agreed-upon price or greater. If Marriott chooses not to buy for that price (hence, not exercising its ROFR), then the owner can proceed with that sale with the buyer. While many timeshare companies might have that right, oftentimes they do not exercise that right.
As for where to research buying, these boards are pretty good. You might find more input from more experienced timeshare owners and users on ts4ms.com or TUG (tugbbs.com). TUG has a sections Hawaii Timesharing, Marriott Resort System, and New to Timesharing? Look Here! that helps people when trying to sort out the ins and outs of buying a timeshare including what questions a potential buyer should ask himself before jumping into the purchasing pool.
Lance C.