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cory30

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That is just a good buy. Did you get it on eBay. Marriott wants $8,350 for the same week.

I purchased directly through one of the more reputable (in my opinion) discount brokers. $799 was the "all inclusive" price to include purchase price, closing, transfer, etc. the deed reflects a purchase price of $799 although I don't know specifically what was sent in for the ROFR request.
 
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Saintsfanfl

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I just got a waiver letter on a purchase I made and MVCI did the letter the very next day that the closing company submitted it. I am wondering if Marriott really is blindly waiving everything or at least all purchases of certain resorts. This one was Lakeshore which previously had a very high ROFR threshhold.

My PA price was fairly high so the pass is not that surprising but not sure it's normal to process an ROFR that quickly.
 
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samara64

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I purchased directly through one of the more reputable (in my opinion) discount brokers. $799 was the "all inclusive" price to include purchase price, closing, transfer, etc. the deed reflects a purchase price of $799 although I don't know specifically what was sent in for the ROFR request.

It is easy to verify (if you really want to). When they exercise or wave, they sent a notarized letter to the broker stating that. This letter has to be submitted with the new deed. If you want to be sure, you can ask for it. Or just enjoy the week.

Also another point is when is the first use year. If you get it in 2016 and the 2017 week has been used, then you have to pay around $1200 for the maintenance of the week that you did not use. This will increase the purchase price as well.
 
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cory30

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It is easy to verify (if you really want to). When they exercise or wave, they sent a notarized letter to the broker stating that. This letter has to be submitted with the new deed. If you want to be sure, you can ask for it. Or just enjoy the week.

Also another point is when is the first use year. If you get it in 2016 and the 2017 week has been used, then you have to pay around $1200 for the maintenance of the week that you did not use. This will increase the purchase price as well.

Thanks for the information - I am curious so I will check the letter.

This is an EOY (odd) use year with first usage beginning in 2017. First maintenance fees are due in January 2017.
 

dioxide45

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Just received notification that our purchase of a Barony Beach EOY (odd), Platinum, garden view has passed ROFR. Purchase price was $799 which included free closing and transfer. I have updated the database but accidentally indicated the usage was annual instead of EOY.

I have fixed your entry in the database.

Thank you.

Thinking about this more. The reason you put Annual in at first is because the ROFR Database wouldn't allow you to enter an EOY week at Barony Beach Club. I am not aware that Marriott ever sold EOY at any of the HHI properties. I have yet to find a single EOY week conveyed to the trust for any of the South Carolina properties. Are you sure you actually bought an EOY Barony?
 

cory30

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Thinking about this more. The reason you put Annual in at first is because the ROFR Database wouldn't allow you to enter an EOY week at Barony Beach Club. I am not aware that Marriott ever sold EOY at any of the HHI properties. I have yet to find a single EOY week conveyed to the trust for any of the South Carolina properties. Are you sure you actually bought an EOY Barony?

Yes, positive. There is actually a listing in the ROFR database for another EOY at Barony from 2013. Additionally, I have family who currently own an EOY in gold season (purchased directly from Marriott quite a few years ago).

Barony is the only SC Marriott property that I am aware of that offered EOY units although that is just based upon my own observations.
 

dioxide45

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Yes, positive. There is actually a listing in the ROFR database for another EOY at Barony from 2013. Additionally, I have family who currently own an EOY in gold season (purchased directly from Marriott quite a few years ago).

Barony is the only SC Marriott property that I am aware of that offered EOY units although that is just based upon my own observations.

Thanks. I remember that other entry when we were converting the database over to the new version. I wasn't really able to verify if it was truly correct or perhaps entered in error. So I just left it as is. I will update the tables in the database to allow for a Barony EOY entry.

I still find it strange that if there are EOY weeks there, why has not a single one been conveyed to the DC Land Trust? Many other properties have EOY weeks conveyed to the trust.
 

cory30

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I still find it strange that if there are EOY weeks there, why has not a single one been conveyed to the DC Land Trust? Many other properties have EOY weeks conveyed to the trust.

I agree that is odd. The deed is conveyed as "an undivided 1/102nd fractional interest in Unit No. XXXX, respectively, Barony Beach Club Horizontal Property Regime." Not sure how many units were actually split and sold as EOY.
 
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tschwa2

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A few in S and VA, a single resort in NC, MD, PA, and UT, plus Jamaica and the Bahamas
The other EOY's I've seen were also in the garden view section at Barony.
 

dioxide45

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The other EOY's I've seen were also in the garden view section at Barony.

Good to know. I have updated the database to add the ability to enter EOY Garden View for now at Barony. I really want to try to prevent inaccurate entries in the database, so only allowing logical combinations works best for that.
 

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My analysis of the data in the ROFR database indicates a fail metric just below 16% and you should be able to pass at just over 28%. This is based on the past 12 months of data and is using the current sales price of $13.04 to calculate the metric. Anywhere in between these two numbers is questionable. Of course, as always, with ROFR anything is possible.

If these metrics hold true, how is it that MGV is selling much lower? I see a 2BR Platinum was waived at $3900 and several other examples at less than $9K. At 28%, I estimate the value to be just over $10K. Seems like ~$5K is a fair number for getting waived.
 

dioxide45

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If these metrics hold true, how is it that MGV is selling much lower? I see a 2BR Platinum was waived at $3900 and several other examples at less than $9K. At 28%, I estimate the value to be just over $10K. Seems like ~$5K is a fair number for getting waived.

A platinum 2BR unit yields 2775 DC points. Taking that, Marriott can turn and sell that week for $13.04 per point and make $36,186 off of it. Using that, it should fail at anything under $5,798 but would be almost guaranteed to pass at $10,132.

Obviously that doesn't hold true in all cases since this metric is spread across all resorts with some outliers included. That is just how ROFR works. There was an entry that failed in October at $5,900 and another one that passed at $3,900. Best to just ignore ROFR and get the best deal you can from the seller. These weeks show up fairly often on the secondary market, so there is another right around the corner.
 

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I purchased directly through one of the more reputable (in my opinion) discount brokers. $799 was the "all inclusive" price to include purchase price, closing, transfer, etc. the deed reflects a purchase price of $799 although I don't know specifically what was sent in for the ROFR request.

I am fairly sure that the listing price was an error. They will many times copy another listing and then change the info that is needed. Sometimes they forget to change certain things. In your case it was probably the price so you lucked out. You then double lucked out since Marriott recently started backing off ROFR especially EOY units.

Count your blessings because that is like being handed a bonus check for $4k. :whoopie:
 

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I am fairly sure that the listing price was an error. They will many times copy another listing and then change the info that is needed. Sometimes they forget to change certain things. In your case it was probably the price so you lucked out. You then double lucked out since Marriott recently started backing off ROFR especially EOY units.

Count your blessings because that is like being handed a bonus check for $4k. :whoopie:

I agree, I expect the listed price was a clerical error. I kept waiting for the broker to call me and tell me they were cancelling the purchase due to listing error but appreciate them honoring the sale (if in fact it was an error). I then fully expected Marriott to exercise ROFR and was pretty surprised when it passed. Timing is everything I guess :)
 

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Time for another ROFR test but this one is EOY as well so I think it is going to pass. Grande Vista Platinum EOY Even with free 2016 usage for about $1,100 all in. It is not the same value as that Barony steal but still a really good deal, especially with the half free usage.
 

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Time for another ROFR test but this one is EOY as well so I think it is going to pass. Grande Vista Platinum EOY Even with free 2016 usage for about $1,100 all in. It is not the same value as that Barony steal but still a really good deal, especially with the half free usage.

Thank you for grabbing that as I was very tempted by it, but don't really need it after my HHI buying binge of a silver surfwatch and gold GO!
 

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Marriott Shadow Ridge Enclaves

I just passed ROFR on a Platinum Shadow Ridge Enclaves 2BR Deluxe for $4,000.

This is interesting to me because (in addition to wanting the week) this is well below the ROFR metric and is an 11.8% computation. Marriott appears to be all over the place on exercising ROFR.

I also know they will be building out the Shadow Ridge complex, and perhaps they are less likely to exercise on those properties where there is (significant) future expansion planned. Will be interesting to track.

I'm very happy about this particular week because I can lock it off into two 1BR units for trading purposes, and it's close to SD for personal use. I will add it to Dioxide's database.

Best,

Greg
 
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Saintsfanfl

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Have you heard of any units failing ROFR lately? I think they are waiving everything right now. I haven't looked at the metrics but I purchased nine Marriott's since they reportedly stopped buybacks and all nine passed ROFR.

It is a good time to buy :)

On a side note depending on who you buy from they may not be submitting the amount that you think they are. There are mass sellers out there that will add in various fees to the purchase price, some real and some maybe not. You never truly know what they submitted unless they are honest with you or you get the info from Marriott. That said they were doing this before as well but some of the thresholds were so high that they would fail anyway.
 
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GregT

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I purchased nine Marriott's

Wow...what have you bought?

I've not heard of anything failing, but the only place I would have heard is here on TUG....interesting....:ponder:....

Best,

Greg
 

Saintsfanfl

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Wow...what have you bought?

I've not heard of anything failing, but the only place I would have heard is here on TUG....interesting....:ponder:....

Best,

Greg

I buy mostly cheap stuff but I checked the metrics and all were significantly below the threshold. They apparently stopped the buybacks and ROFR's a few months ago. Someone reported in this or another thread that when they called for buyback prices the rep said they were no longer doing any buybacks. From that point forward my purchases started passing so I speculated that ROFR was off the table as well for at least the time being.

This is what I have bought in the last few months. Not hard to buy stuff except maybe Lakeshore but none of these would have passed a year ago at the prices I paid or even with the mass seller bumps.

Willow Ridge Platinum EOY
Lakeshore Reserve Premier Platinum
Manor Club Gold
Manor Club Platinum
Ocean Pointe Silver
Grande Vista Gold X3
Grande Vista Platinum EOY
 

dioxide45

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I just passed ROFR on a Platinum Shadow Ridge Enclaves 2BR Deluxe for $4,000.

This is interesting to me because (in addition to wanting the week) this is well below the ROFR metric and is an 11.8% computation. Marriott appears to be all over the place on exercising ROFR.

I also know they will be building out the Shadow Ridge complex, and perhaps they are less likely to exercise on those properties where there is (significant) future expansion planned. Will be interesting to track.

I'm very happy about this particular week because I can lock it off into two 1BR units for trading purposes, and it's close to SD for personal use. I will add it to Dioxide's database.

Best,

Greg

Greg,

Any idea how many more units are planned at Shadow Ridge? I know back in 2013 they reported that they still had 484 units planned there, but they also did a big bulk conveyance of units to the trust? I didn't run the numbers, but any idea how many actual units were conveyed in with that 10 million point conveyance in 2014?
 

GregT

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Greg,

Any idea how many more units are planned at Shadow Ridge? I know back in 2013 they reported that they still had 484 units planned there, but they also did a big bulk conveyance of units to the trust? I didn't run the numbers, but any idea how many actual units were conveyed in with that 10 million point conveyance in 2014?

I would suspect that the 484 are still planned because they still haven't begun construction. Each time we are out there, it looks like they've pushed earth around, but nothing is framed yet. We will see.

Best,

Greg
 

jd2601

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Surfwatch ROFR

I recently signed a purchase agreement for Surfwatch 2 bedroom Gold Garden View and Marriott exercised their ROFR. I now just received notice that a purchase for 2 bedroom Gold Ocean View (? name of view catagory Tide Mark building) Marriott waved their ROFR same exact price.

I imagine they change their mind each contract and do not feel their is much of a difference in value between garden and ocean view?

I was somewhat surprised Ocean View passed and garden did not.
 
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TheTimeTraveler

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I recently signed a purchase agreement for Surfwatch 2 bedroom Gold Garden View and Marriott exercised their ROFR. I now just received notice that a purchase for 2 bedroom Gold Ocean View (? name of view catagory Tide Mark building) Marriott waved their ROFR same exact price.

I imagine they change their mind each contract and do not feel their is much of a difference in value between garden and ocean view?

I was somewhat surprised Ocean View passed and garden did not.




ROFR is always a moving target, and much of their (Marriott's) activity depends upon their cash flow situation and the demand of the particular resort. Some may pass ROFR and others may not.

Just set your own price target and keep submitting. Eventually (hopefully) one will pass for your own ownership.

HINT: You may have much better luck with ROFR if you buy at a resort which is not fully built out or sold out; i.e. Oceana Palms in Florida and Grande Chateau in Nevada are likely two such resorts.

Best of luck and keep us posted.




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