# Another Marriott ROFR waived



## Andar (Dec 11, 2008)

Bought on Ebay, Oct. 30th: EOY Shadow Ridge ($2,800).  Just recieved information it did pass. :whoopie:


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## Quimby4 (Dec 11, 2008)

Plat, Gold, bronze?

Congrats!!


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## Andar (Dec 11, 2008)

oops, sorry Quimby4,  it was Gold.   Congrats on your recent purchases too! 
I did put it on the ROFR data sheet.  It hasn't closed but they did waive their right so I guess it should go there.


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## dioxide45 (Dec 11, 2008)

Andar said:


> oops, sorry Quimby4,  it was Gold.   Congrats on your recent purchases too!
> I did put it on the ROFR data sheet.  It hasn't closed but they did waive their right so I guess it should go there.



Yes, it should go on the database. Even if the deal does not close (for whatever reason) the ROFR was still waived and is accurate. It doesn't have to be a completed sale to be posted to the database.


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## Andar (Feb 2, 2009)

Bought on Ebay Oct. 11th
ROFR waived Dec 11
Just got the warrenty deed


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## jhm40cu (Feb 3, 2009)

Andar said:


> Bought on Ebay, Oct. 30th: EOY Shadow Ridge ($2,800).  Just recieved information it did pass. :whoopie:



Wow, that's an awesome deal! Congrats!


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## dougp26364 (Feb 3, 2009)

Man this is killing me. I'd LOVE to buy another Marriott week at these prices but, I already own to many weeks and then weeks I'd like to get rid of have a value of approx. $1.......if I could even get that much out of them. I just can't use another week and I really can't afford another Marriott maintenance fee. 

Darn the rotten luck of bad timing. If I had jumped on the DRI buyback bandwagon sooner, I would have completed the selling back of those units before the market crashed and DRI withdrew their offer. Then I'd have 3 Marriott weeks, probably a little cash in my pocket, lower overall MF's and be rid of 2 weeks with a company I really don't trust anymore. 

Like my dad use to say, timing is everything. This time my timing was off. Guess I'll just have to make the best use of what we own.


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## winger (Feb 3, 2009)

dougp26364 said:


> Man this is killing me. I'd LOVE to buy another Marriott week at these prices but, I already own to many weeks and then weeks I'd like to get rid of have a value of approx. $1.......if I could even get that much out of them. I just can't use another week and I really can't afford another Marriott maintenance fee.
> 
> Darn the rotten luck of bad timing. If I had jumped on the DRI buyback bandwagon sooner, I would have completed the selling back of those units before the market crashed and DRI withdrew their offer. Then I'd have 3 Marriott weeks, probably a little cash in my pocket, lower overall MF's and be rid of 2 weeks with a company I really don't trust anymore.
> 
> Like my dad use to say, timing is everything. This time my timing was off. Guess I'll just have to make the best use of what we own.


yes, just enjoy what you have !


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## djplaw123 (Feb 3, 2009)

*ROFR Waived*

Purchased Red Week at Desert Springs - 2 BR for 6K.  Marriott waived the ROFR and deeds were signed yesterday.


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## thinze3 (Feb 3, 2009)

djplaw1 said:


> Purchased Red Week at Desert Springs - 2 BR for 6K.  Marriott waived the ROFR and deeds were signed yesterday.



I recently bought an annual Red DSV II for $3450 and it passed ROFR.


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## travelplanner70 (Feb 4, 2009)

Where did you find such a great price?  Thanks for sharing the info.


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## tango4u (Feb 4, 2009)

I recently bought an annual Gold DSV II for $2477 on Ebay and it passed ROFR last week. Deed sent out for recording as well (not get it back yet).


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## thinze3 (Feb 4, 2009)

jo-jo said:


> Where did you find such a great price?  Thanks for sharing the info.



On eBay.

http://www.tugbbs.com/forums/showthread.php?t=87547


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## TSResalez (Feb 5, 2009)

dougp26364 said:


> Man this is killing me. I'd LOVE to buy another Marriott week at these prices but, I already own to many weeks and then weeks I'd like to get rid of have a value of approx. $1.......if I could even get that much out of them. I just can't use another week and I really can't afford another Marriott maintenance fee.
> 
> Darn the rotten luck of bad timing. If I had jumped on the DRI buyback bandwagon sooner, I would have completed the selling back of those units before the market crashed and DRI withdrew their offer. Then I'd have 3 Marriott weeks, probably a little cash in my pocket, lower overall MF's and be rid of 2 weeks with a company I really don't trust anymore.
> 
> Like my dad use to say, timing is everything. This time my timing was off. Guess I'll just have to make the best use of what we own.



Anyone know if marriott is making any offers to purchase owner's weeks? and at what prices?


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## mlfrancis (Feb 5, 2009)

*Marriott resales*

I've been on the list to sell my Grande Vista week back to Marriott for over a year now ... they've gotten to 99% sold out but have been stagnating at that point for several months now ... I don't really need to sell, which is why I won't take the offers of $3K I've gotten elsewhere ... I'm just holding out and if I sell it, so be it. 

But I did get a letter from Marriott in November asking if I was still interested in selling back to them - I took that as a positive sign that they're getting close.  The last I was told was a little under $12K for a 2BR gold week.


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## tombo (Feb 5, 2009)

mlfrancis said:


> I've been on the list to sell my Grande Vista week back to Marriott for over a year now ... they've gotten to 99% sold out but have been stagnating at that point for several months now ... I don't really need to sell, which is why I won't take the offers of $3K I've gotten elsewhere ... I'm just holding out and if I sell it, so be it.
> 
> But I did get a letter from Marriott in November asking if I was still interested in selling back to them - I took that as a positive sign that they're getting close.  The last I was told was a little under $12K for a 2BR gold week.



I wish you luck but don't hold your breath. Marriott would be stupid to buy back inventory for $10k to $12k when they aren't acquiring weeks available to them for $2000 or $3000 by exercising ROFR. Using ROFR is the cheapest way for Marriott to get new inventory, but even at the current low prices Marriott doesn't want any more inventory, so they aren't ROFR'ing much less buying back weeks from owners.


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## thinze3 (Feb 5, 2009)

Marriott is always 98-99% sold at "sold out" locations. There is always a steady flow of transactions that allows them to step in and get whatever they want through ROFR. The two platinums I am purchasing now are both at "sold out" resorts and I paid 15% retail for one and 20% for the other. Marriott had no interest in either of them.

There is NO chance that Marriott would buy these back from anyone at 60% retail anytime (years) soon.


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## purduealum91 (Feb 6, 2009)

Terry,

Congrats on your purchases!  I too am very happy!  I just purchased a 2br Platinum Lock-out, eoy for $1,000 including all costs.  Yippeee!

Tommy


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## neatnik (Feb 6, 2009)

purchased Manor Club at Ford's Colony in Sept. on Ebay for 550.00 rofr waived transaction complete-title transferred purchase confirmed last week-was able to trade to Fairway villas at Seaview - Sept. week -  looking forward  to time at the Jersey Shore


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## TSResalez (Feb 11, 2009)

tombo said:


> I wish you luck but don't hold your breath. Marriott would be stupid to buy back inventory for $10k to $12k when they aren't acquiring weeks available to them for $2000 or $3000 by exercising ROFR. Using ROFR is the cheapest way for Marriott to get new inventory, but even at the current low prices Marriott doesn't want any more inventory, so they aren't ROFR'ing much less buying back weeks from owners.



Does anyone know if there is a list somewhere here or online of all offers made to owners. This would be a valuable asset to tuggers and timeshare owners in general. A place for them to go and see past and current offers on there weeks so they may be better informed!


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## FlyerBobcat (Feb 11, 2009)

TSResalez said:


> Does anyone know if there is a list somewhere here or online of all offers made to owners. This would be a valuable asset to tuggers and timeshare owners in general. A place for them to go and see past and current offers on there weeks so they may be better informed!



This is the best I know of...  http://dioxide45.tripod.com/rofr.html


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## m61376 (Feb 11, 2009)

thinze3 said:


> Marriott is always 98-99% sold at "sold out" locations. There is always a steady flow of transactions that allows them to step in and get whatever they want through ROFR. The two platinums I am purchasing now are both at "sold out" resorts and I paid 15% retail for one and 20% for the other. Marriott had no interest in either of them.
> 
> There is NO chance that Marriott would buy these back from anyone at 60% retail anytime (years) soon.



I am not so sure of that. When Marriott resells a unit, taking a 40% commission, it is not actually buying back the unit for 60% retail. It is really acting like a broker of sorts, so it may not actually be laying out money; I don't think Marriott actually buys back the unit at 60% and then first looks for a buyer. I think Marriott first has a willing buyer and then buys back the unit. Thus, Marriott doesn't incur the capital outlay expense which is a biggie in this credit market. 

I think the credit crunch is so great that Marriott is passing on opportunities to nab bargain basement prices but may tap into the resale list at those same resorts if they have willing buyers and don't have developer inventory in the category the buyer wants, despite possibly having waived prices that were much less but required capital outlay.


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## thinze3 (Feb 11, 2009)

On a $30K unit, I say Marriott would simply buy a unit for $6K using its ROFR process vs. paying someone on the waiting list $12K.

I assume that Marriott would rather make $24K vs. $18K.


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## Steve (Feb 11, 2009)

thinze3 said:


> On a $30K unit, I say Marriott would simply buy a unit for $6K using its ROFR process vs. paying someone on the waiting list $12K.
> 
> I assume that Marriott would rather make $24K vs. $18K.



Marriott doesn't buy back weeks from owners and doesn't buy weeks from the waiting list.  When the company accepts a resale listing from a current owner, Marriott simply acts as a broker.  When the week sells, they charge the seller a 40% commission.  Marriott does NOT purchase the week, does not have to carry the week on its books, and has no risk.

In contrast, if Marriott exercises ROFR, then Marriott does indeed have to actually buy the week from the seller.  Marriott can, in turn, sell the week to a buyer for a handsome profit.  However, Marriott has to first actually purchase the week and take responsibility for it and for the maintenance fees in the event that the week doesn't sell quickly.

In this current economy, using your example, Marriott does indeed seem to prefer making $18,000 acting as a broker rather than making $24,000 as an actual buyer and seller.

Steve


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## dioxide45 (Feb 11, 2009)

Steve said:


> In contrast, if Marriott exercises ROFR, then Marriott does indeed have to actually buy the week from the seller.  Marriott can, in turn, sell the week to a buyer for a handsome profit.  However, Marriott has to first actually purchase the week and take responsibility for it and for the maintenance fees in the event that the week doesn't sell quickly.



Marriott may already have a buyer for weeks they take back via ROFR. In the past they have had waiting lists at some sold out properties, I don't know if that is true now. So it is possible that they can quickly flip those weeks they get through ROFR.


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## thinze3 (Feb 11, 2009)

Steve, after closing Marriott will untimately be the one who "pays" the person who had their week on the waiting list.

It was simple a point that Marriott will not be allowing anyone from their waiting list to collect $12K for a platinum week at BeachPlace or a red week at DSVII anytime soon. They could have had both of those weeks for a total of $10K had they simply used ROFR on ME. This is verses having to pay two people (or allowing two people to collect if you wish) a total of $24K.

Simply put, Marriott would get the $14K difference.


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## Steve (Feb 11, 2009)

thinze3 said:


> It was simple a point that Marriott will not be allowing anyone from their waiting list to collect $12K for a platinum week at BeachPlace or a red week at DSVII anytime soon. They could have had both of those weeks for a total of $10K had they simply used ROFR on ME. This is verses having to pay two people (or allowing two people to collect if you wish) a total of $24K.
> 
> Simply put, Marriott would get the $14K difference.



I don't quite follow you here.  You are saying that "Marriott will not be allowing anyone from their waiting list to collect $12K for a platinum week...anytime soon."  I think that's a completely false statement.

Marriott will gladly sell a week on behalf of the owners who are on the waiting list.  It's happening all the time.  Marriott is content to act as the real estate agent and make the 40% commission on these sales. 

What Marriott isn't willing to do is exercise ROFR and purchase these weeks and resell them...despite the fact that Marriott would make a bigger profit if they did.  

You seem to think that this is illogical and so it can't possibly be happening, but this is indeed happening all the time.  Marriott is not blocking any sales from the waiting list.  Sales are taking place...albeit at a slower pace than previously...but they are happening.

As just one example, Marriott recently sold my Manor Club week for me.  I got over $13,000 after they took their 40% commission.  At this same time, Marriott was passing up the opportunity to purchase Manor Club weeks through ROFR for thousands less.  (Dioxide's ROFR database has the statistics to prove it.)  Marriott could have made a lot more money if they had simply used ROFR to buy those weeks and then resell them, but they chose not to.  Instead, they made a smaller profit by acting as a real estate agent and selling my week for me.

Steve


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## TSResalez (Feb 11, 2009)

flyerbobcat said:


> This is the best I know of...  http://dioxide45.tripod.com/rofr.html



Thanks for the info. This helps for sales on the resale market, but what about offers made to owners directly from the developer??


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## TSResalez (Feb 11, 2009)

Steve said:


> Marriott doesn't buy back weeks from owners and doesn't buy weeks from the waiting list.  When the company accepts a resale listing from a current owner, Marriott simply acts as a broker.  When the week sells, they charge the seller a 40% commission.  Marriott does NOT purchase the week, does not have to carry the week on its books, and has no risk.
> 
> In contrast, if Marriott exercises ROFR, then Marriott does indeed have to actually buy the week from the seller.  Marriott can, in turn, sell the week to a buyer for a handsome profit.  However, Marriott has to first actually purchase the week and take responsibility for it and for the maintenance fees in the event that the week doesn't sell quickly.
> 
> ...



what about when they make a direct offer to purchase from the owner? they have made repurchase offers in the past? these values change from season to season so I was looking for somewhere to view what the "latest" offer was so that I could sell my unit for example.


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## Steve (Feb 11, 2009)

TSResalez said:


> what about when they make a direct offer to purchase from the owner? they have made repurchase offers in the past? these values change from season to season so I was looking for somewhere to view what the "latest" offer was so that I could sell my unit for example.



Those offers were always quite rare.  I believe that they have now ceased completely.  

On the other hand, if you want to see if Marriott will act as a real estate agent to sell your week for you, simply call them and ask:

1)  Is Marriott currently accepting listings for your resort and season?
2)  What price is Marriott charging buyers of weeks like yours?
3)  What will you net if it sells? (this will be 60% of the answer to #2)
4)  Is there a waiting list, and if so, what number will you be on the list?

Please note that Marriott will only accept listings at the price they have set.  You can't get them to sell it for less.  Also, note that Marriott will NOT repurchase your week from you.  They will only act as a real estate agent to find you a buyer.

Steve


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## taffy19 (Feb 11, 2009)

thinze3 said:


> On a $30K unit, I say Marriott would simply buy a unit for $6K using its ROFR process vs. paying someone on the waiting list $12K.
> 
> I assume that Marriott would rather make $24K vs. $18K.


I believe that Marriott would accommodate some of the owners by selling their week and charge a hefty commission because that's what they may have been told when they bought.  There would be so many gripes if they didn't keep that promise once they are on that waiting list already and that would hurt them more in the end than making less profit on a single sale.  A 40% commission is not bad after-all.  JMHO.  

Are they no longer taking in trades if a buyer wants to upgrade to a newer resort, if they have a buyer waiting today for their current resort?  I wonder if we have seen the worst now or if prices will even go lower yet?  If you hang on long enough, prices will go up again and you guys will be very happy with the great deals you made.  

PS.  Sorry Steve, I didn't see your post.  You are much more accurate in your message than I was.


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## m61376 (Feb 12, 2009)

The bottom line is, whether it seems to make financial sense from a $$ standpoint, is Marriott seems very reluctant to have to outlay any money despite the potential for profit making. They would rather act as a broker, get their 40%, and not have to borrow any money. I think the tightening credit market has had a huge impact, especially since timeshares are probably one of the least secured entities.


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## tlwmkw (Feb 12, 2009)

*Marriott is not stupid- they are being shrewd here*

Marriott doesn't want to hold inventory- if they buy if from you to re-sell then they tie up capital and have to cover the MF's until they re-sell it.  Who knows how long that will be?  Especially if they don't want to discount their prices (which they don't).  If they simply take a name and put it on a list then you hold the inventory and pay the MF's until it sells.  Marriott gets 40%of the higher price if they sell it for you.  Most buyers in the sales office don't know if they are buying from Marriott or from the original owner (and probably don't care).  If Marriott could turn these weeks around quickly it would make sense to buy them in, but since they aren't discounting they know that they won't sell quickly so they prefer the 40% without the risk.


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## TSResalez (Feb 16, 2009)

tlwmkw said:


> Marriott doesn't want to hold inventory- if they buy if from you to re-sell then they tie up capital and have to cover the MF's until they re-sell it.  Who knows how long that will be?  Especially if they don't want to discount their prices (which they don't).  If they simply take a name and put it on a list then you hold the inventory and pay the MF's until it sells.  Marriott gets 40%of the higher price if they sell it for you.  Most buyers in the sales office don't know if they are buying from Marriott or from the original owner (and probably don't care).  If Marriott could turn these weeks around quickly it would make sense to buy them in, but since they aren't discounting they know that they won't sell quickly so they prefer the 40% without the risk.



I called the resale office, they said the waiting list would have me selling longer than a year from today...also I'm not even available to get on the list but a "registration" as they put it. The resale rep also says they actually are losing money when taking a 40% commission!? absurd .


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## TheTimeTraveler (Feb 16, 2009)

They would only be losing money with a 40% commission if their marketing costs exceeded the 40% fee;  otherwise it is pure profit.

Trust me, it's a profitable venture for them otherwise they wouldn't be doing it.


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## TEDK63 (Feb 16, 2009)

Just got back from my annual sales pitch here in St Thomas. We discussed "upgrading"  and buying/trading to a platnum plus here and they offered me just about 60% of what they said was  the "value" of the property.   I would be happy to upgrade ( a prospect where they can make money on both ends if they would just give me a reasonable value on my current Aruba surf club property  let say 75 -80 %



The rep also indicated that we could sell in on our own for about 30k...

Any buyers.... anybody?  Bueller...lol


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