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straw buyer to force Mariott buyback

Sullco2

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What's to stop someone who just wants out of their MVCI week(s) to ask a friend to phony up an offer that is very low? The seller submits it to MVCI and MVCI has to buy it back because it's so low.

Presto--the seller is out of his MF, etc. and didn't have to go through the various selling options that we all know about.

Why doesn't this work? Or does it......
 

Saintsfanfl

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What's to stop someone who just wants out of their MVCI week(s) to ask a friend to phony up an offer that is very low? The seller submits it to MVCI and MVCI has to buy it back because it's so low.

Presto--the seller is out of his MF, etc. and didn't have to go through the various selling options that we all know about.

Why doesn't this work? Or does it......

Why would Marriott have to buy it back just because it is a "low" price? That wouldn't make sense. There are Marriott's sold for $1 all the time that Marriott does not take. Marriott does not have to buy anything back that they do not want.

Just call and ask if Marriott want's it. They may buy it right then and there without all the phony nonsense that is a waste of everyone's time.
 
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GregT

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I'm not sure that this will work. Marriott is still letting alot go through ROFR, therefore the Seller can't be assured it will be ROFR'd.

If it's a decent week, then hopefully it can be liquidated through eBay at at least the low notional price -- or given away on TUG boards?

At least with the other two, the transaction is pristine, whereas the fake offer designed to induce a purchase from Marriott isn't.

Best,

Greg
 

SueDonJ

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What's to stop someone who just wants out of their MVCI week(s) to ask a friend to phony up an offer that is very low? The seller submits it to MVCI and MVCI has to buy it back because it's so low.

Presto--the seller is out of his MF, etc. and didn't have to go through the various selling options that we all know about.

Why doesn't this work? Or does it......

If Marriott didn't exercise you could be left in a situation where your friend has to back out of the deal and you'll still be the owner. Marriott has the RIGHT of First Refusal but not an obligation to exercise it, and we've seen over the years that sometimes there's just no rhyme or reason to what Marriott will or won't take through ROFR.
 

Sullco2

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Thank you

Actually I asked this question because I recently sent a laughably low offer to someone selling what I believe is a desirable MVCI property.

He insisted I make the offer and, upon reflection, I wondered if he was using that strategy.

We'll see what happens.
 

Saintsfanfl

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Actually I asked this question because I recently sent a laughably low offer to someone selling what I believe is a desirable MVCI property.

He insisted I make the offer and, upon reflection, I wondered if he was using that strategy.

We'll see what happens.

It would be a pointless exercise. Marriott has a resale phone number that anyone can call and get an instant quote on a buy back. You do not need an offer from a third party in order to sell back to Marriott.

I don't think I have ever inquired on a Redweek ad where the seller didn't ask me to make an offer.
 

Sullco2

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Once again, TUG board folks know way more than the average bear.

Thanks again.
 

thinze3

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There is always a chance that Marriott will exorcise ROFR for a higher amount than what they offer for a true purchase. It would be interesting to compare the 2 databases.
 

dioxide45

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It would be a pointless exercise. Marriott has a resale phone number that anyone can call and get an instant quote on a buy back. You do not need an offer from a third party in order to sell back to Marriott.

I don't think I have ever inquired on a Redweek ad where the seller didn't ask me to make an offer.

I agree. One can't really force a Marriott buyback or ROFR. Chances are if they are ROFRing on a property, they are also actively buying it back.
 

benyu2010

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But I remembered someone posted while ago that Marriott does not buy back deeded weeks purchased in secondary market. Is this kinda trick, though not vey wise IMO, only way may trigger an action of Marriott?
 

l2trade

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why a low offer? i think even a fair price offer may get ROFR exercised if Marriott considers the buyer a likely future sales prospect. this happened to someone i know six years back.
 

tschwa2

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But I remembered someone posted while ago that Marriott does not buy back deeded weeks purchased in secondary market. Is this kinda trick, though not vey wise IMO, only way may trigger an action of Marriott?

Marriott does buy backs from weeks purchased on the secondary market. What they are not doing is buying back bronze weeks and most silver weeks. They are also less likely to offer buy backs for resorts that they are already heavy in the trust. In most cases it seems that the buy back offers are slightly higher to a fair bit higher than ebay market value. Some properties like Aruba may be getting offers a little on the low side.

In any case before you do anything else I would contact Marriott and see if they are offering to buy back the week before deciding on alternatives especially ones that would involve fraud.
 

dioxide45

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But I remembered someone posted while ago that Marriott does not buy back deeded weeks purchased in secondary market. Is this kinda trick, though not vey wise IMO, only way may trigger an action of Marriott?

There are plenty of postings to the Buyback Database where people who purchased resale were made buyback offers from Marriott.
 

thinze3

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I agree. One can't really force a Marriott buyback or ROFR. Chances are if they are ROFRing on a property, they are also actively buying it back.

It is obvious, based on your database, that Marriott is actively making offers to BeachPlace Towers owners. Since we have seen so many MBP offers, and owners declining those offers, I do believe there is a good chance that Marriott would, at this time, purchase through ROFR a BeachPlace unit for an amount more than what they are currently offering owners.
 

csxjohn

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Where's the light bulb emoticon?

I now see why Marriott charges a fee to submit an offer to see it will rofr. If they did not charge a fee I suspect they'd be over run with phony purchase offers just to see what price will clear.
 

Saintsfanfl

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But I remembered someone posted while ago that Marriott does not buy back deeded weeks purchased in secondary market. Is this kinda trick, though not vey wise IMO, only way may trigger an action of Marriott?

If Marriott needs a week they are not going to care where it came from. I sold one back that I bought only a few months earlier. I was upgrading my view so it worked out nicely.
 
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