If you’re a timeshare owner with Marriott Vacation Club, you might be wondering – Does Marriott Vacation Club have a buy back program? The short answer is yes, they do. However, there are some important details to consider before deciding if this is the right option for you.
What Is a Buy Back Program?
Before we dive into the specifics of Marriott’s buy back program, let’s first define what it means. A buy back program is when a timeshare company offers to purchase your ownership back from you. This can be beneficial to owners who are looking to get out of their contract or no longer use their timeshare.
Marriott’s Buy Back Program
Marriott Vacation Club offers a buy back program for owners who are in good standing and meet certain eligibility requirements. According to Marriott’s website, the program allows owners to sell all or a portion of their ownership interest back to Marriott.
Eligibility Requirements
To be eligible for Marriott’s buy back program, owners must meet the following criteria:
- Their account must be current and in good standing
- Their ownership interest must not be subject to any legal or contractual restrictions
- Their ownership interest must not have been previously used for reservations during the current calendar year or one of the two preceding calendar years
- Their ownership interest must not have been obtained through resale
- Their ownership interest must not have been purchased using developer financing
How It Works
If an owner meets these eligibility requirements and decides to participate in the buy back program, Marriott will make an offer based on several factors including:
- The type of ownership interest being sold (e.g. weeks, points)
- The current market value of similar ownership interests
- The current demand for that particular ownership interest
If the owner accepts the offer, Marriott will purchase their ownership interest back from them. It’s important to note that the offer may be less than what the owner originally paid for their timeshare.
Is It Right for You?
If you’re considering selling your Marriott Vacation Club ownership back to the company, it’s important to weigh the pros and cons. While the buy back program offers a simple and straightforward way to get out of your contract, it may not be the most financially advantageous option.
Before making a decision, consider these factors:
- The current market value of your ownership interest
- The cost of maintaining your timeshare (e. annual maintenance fees)
- Your personal financial situation and goals
Conclusion
In conclusion, Marriott Vacation Club does offer a buy back program for eligible owners. However, it’s important to carefully consider all factors before deciding if this is the right option for you. If you’re unsure about whether or not to participate in the buy back program, consider consulting with a financial advisor or real estate professional who specializes in timeshares.