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Frequently asked questions, answered.
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 timeshare resale process takes about 90 days to complete and is 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 Marriott Vacation Club resales department.
- In about another 4 weeks of time, we should receive from Marriott 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 Marriott.
- We’ve now reached the final step of the transfer of ownership procedure and we will have to wait another 4 weeks for Marriott 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 my timeshare with Interval International®?
You’ll be able to register your new timeshare ownership into your Interval International® account and start using this program once you receive the ownership certificate from Marriott.
Nevertheless, knowing that the transfer of ownership takes a few weeks before completion, we would advise you to start exploring the memberships levels (Basic, Gold and Platinum).
We invite you in having a deeper look to the Interval International® sections listed in our FAQ’s Page, and the following links will bring you to the Interval International® enrolment contracts in English, German, Spanish, French, Italian, Danish, Swedish. The registration process is really simple and it will be our pleasure to assist you.