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Commonly Asked Questions
How do I know there is no debt owed on the timeshare I am buying?
It is in fact impossible for us to execute a transfer of an ownership with any outstanding debt on it. Before Marriott Vacation Worldwide will issue any transfer documentation the ownership must be debt free, with the maintenance fee payments current.
Marriott sales rep. may implicate this as a reason not to buy a resale ownership but to instead buy a membership at full price. Be reassured this is not the case!
What is the Transfer of Ownership Process?
The transfer process takes about 90 days to complete; however, it is essential that we follow legal and company requirements and ensure that both parties are fully protected throughout the procedure.
Marriott Vacation Worldwide (MVW) does the transfer of ownership from their head offices in Florida and the process organised in 4 parts:
- Before the end of the mandatory 14 days’ withdrawal period, we are asking you to transfer onto the escrow account the full purchase amount. All monies will stay blocked until completion of the transfer of ownership.
- From the moment the funds are placed into the account, the agreements will be sent to Marriott for review, also referred as to “Right of First Refusal” period (ROFR); this typically takes 4 weeks. If Marriott choose to waive their “Right of First Refusal” we can then move on with the procedure and the complete file will then be sent via secured postal mail to MVW in Florida.
- In about another 4 weeks of time, we should receive from MVW a document named Holiday Ownership Transfer Agreement (HOTA). Upon receipt, we will forward it to you and the seller for original signatures. This original signed document should be returned to us and after verification we will send it back to MVW in Florida.
- We’ve now reached the final step of the transfer of ownership procedure and we will have to wait another 4 weeks for MVW to complete the transaction. You will receive to your home address the timeshare ownership certificate(s) and we will wait for your confirmation before releasing the funds to the seller.
What does Right of First Refusal (ROFR) mean?
Marriott’s timeshare buy back policy is also referred to as Right of First Refusal. Before any Marriott timeshare can be sold, the purchase and selling agreements must be sent to Marriott for review. Marriott has a limited number of days to review the contracts and in that time, if they decided to, they can purchase the property based on the terms of the sales contract. The funds will then be refunded to you, and the sellers will proceed with the transaction, but with Marriott as the new buyer.
On the other hand, if Marriott waive their ROFR, the original sale can proceed.
Can I already register with Interval International®?
Nevertheless, knowing that the transfer of ownership will take a few weeks before completion, we would advise you to start exploring the memberships levels (Basic, Gold and Platinum).