# Hyatt ROFR cancellation question



## rtf2017 (Jul 1, 2016)

We entered into a sale of our Hyatt Wild Oak diamond unit to an individual, however Hyatt exercised their ROFR. We signed the Hyatt addendum and have received the final closing title documents which we have not signed. We now would like to keep the unit, however the Hyatt transfer people insist that it's too late to cancel. My experience is that (most) deals aren’t done until all docs are signed.  We accept that we would most likely have to pay transfer and closing costs under any circumstances if it did not finalize back to Hyatt. Any advice / input would be most appreciated! Are they correct that we can’t cancel?


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## frank808 (Jul 1, 2016)

I say until you sign the closing docs there is no transfer.  You can choose not to go through with the sale.  Hyatt is trying to intimidate you into selling your unit.  Just tell them you changed your mind and are not selling your unit.


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## Kal (Jul 1, 2016)

The key document is the "Timeshare Sales Contract" between the seller and the original buyer.  Once that document is signed by both original parties, the deal is done.  Only difference with ROFR is Hyatt steps in and becomes the new buyer.

 You sold your unit and are liable for any additional costs that were specified in the sales agreement.  What if you changed your mind after Hyatt passed on ROFR?  No difference.


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## rtf2017 (Jul 1, 2016)

*Hyatt ROFR*

Thank you Kai, unfortunately that makes sense. I'll just see if they are willing to accommodate though I will keep expectations low. KAI FYI to your db we sold at $8000, 2200 pts, Hyatt is becoming increasingly aggressive in exercising their ROFR as noted in other threads.


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## LurkerBee (Jul 1, 2016)

Wow!  They really are taking them back now. I finally decided which Hyatt I wanted and am looking at several options for weeks.  Now I'm thinking I'd have little chance of getting one anyway. Seems to be lots of recent posts with no successful sales


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## vacationtime1 (Jul 1, 2016)

bobtfrench said:


> Thank you Kai, unfortunately that makes sense. I'll just see if they are willing to accommodate though I will keep expectations low. KAI FYI to your db *we sold at $8000, 2200 pts, *Hyatt is becoming increasingly aggressive in exercising their ROFR as noted in other threads.



Hyatt cannot let Maui-eligible traders (i.e. 2200 points) sell for $8,000 when they are selling 2200 points at Ka'anapali for $50,000 - $100,000.


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## Kal (Jul 2, 2016)

bobtfrench said:


> ...FYI to your db we sold at $8000, 2200 pts, Hyatt is becoming increasingly aggressive in exercising their ROFR as noted in other threads.



A 2200 point week should be considered in a class by itself as those are very popular on the market. They are often hard to find. Too bad you didn't hike the price at the get-go, then be willing to back down if unsuccessful.


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## Sicnarf (Jul 2, 2016)

Typically, you'll have to pay a penalty for backing out of a contract as stipulated in the sales contract.  And if you are using a broker, you'll have to pay their commission.
Another option would be for your buyer is to increase their offer.


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## Kal (Jul 2, 2016)

Sicnarf said:


> Another option would be for your buyer is to increase their offer.



 The buyer is now Hyatt.  I wonder if Hyatt would increase their offer?


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## Tucsonadventurer (Jul 2, 2016)

When Hyatt exercised their right on a Beach House unit we tried to buy, we were unable to bid a higher price. Our agent was not aware of that initially. We were however able to buy a similar unit for $1,000 extra . You can still get Hyatt units just not at rock bottom prices. 8,000 for that amount of pts is pretty low.


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## rtf2017 (Jul 5, 2016)

*Hyatt is amazing!*

I am pleased and delighted to update that Hyatt, as a one time courtesy, has released us from our ROFR sale obligation as of today. What a first class service organization! We consider ourselves very fortunate and now plan to use our unit for a very long time. What prompted this whole process was our daughters expressing dismay we were going to give it up. Thanks to all for your advice and input. Much appreciated.


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## Tucsonadventurer (Jul 5, 2016)

Wonderful news, congratulations! Impressed with Hyatt once again


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## TUGBrian (Jul 5, 2016)

that is pretty amazing, even more so in this industry!

amazing what can happen when the main focus of a timeshare developer is maintaining a happy, maintenance fee paying owner!


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## rtf2017 (Jul 7, 2016)

*Hyatt even gets better*

And they waived closing costs!


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## Denise L (Jul 10, 2016)

bobtfrench said:


> I am pleased and delighted to update that Hyatt, as a one time courtesy, has released us from our ROFR sale obligation as of today. What a first class service organization! We consider ourselves very fortunate and now plan to use our unit for a very long time. What prompted this whole process was our daughters expressing dismay we were going to give it up. Thanks to all for your advice and input. Much appreciated.



Great news, congratulations!  Nice to hear some good news for a change .


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