# Newport Coast ROFR



## ConnieG (Feb 4, 2008)

Just posted our 2 weeks in Newport Coast (platinum) for sale and found a buyer, but Marriott exercised their ROFR for $17,000 each.  We just wanted to sell and be done with it & only had the one person interested.


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## Lawlar (Feb 4, 2008)

*Facts re sale*

A few questions, if you don't mind:

How long did it take for you to find a buyer for your unit?

What was your original purchase price?

Did you sell because you didn't enjoy owing a timeshare? 

Were you unhappy with the costs of maintaining your unit?

Good luck to you!!


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## camachinist (Feb 4, 2008)

That's interesting. I've been posting 16K as their ROFR ceiling for platinum, based on my information, so this is a good sign for NCV owners wondering about demand for the continuing build-out.

Other than a fast closing (some ROFR's have been slow), there should be no difference in your transaction compared to that with a private party. You got your asking price.

Based on your post, I'm going to opine that Marriott will take the gold interval auctioned below, which ended at 12K.

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=300195257771

Welcome to TUG! 

Pat


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## dmharris (Feb 5, 2008)

We're going to a presentation at NCV, for the 15,000 miles, so what questions would you like me to ask about selling?


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## camachinist (Feb 5, 2008)

EOY (if available) in both seasons and July 4 and Christmas week prices would be nice... I assume they'll give you the gold and platinum EY season prices as part of the presentation....

Building #'s scheduled to open this year....

Thanks in advance 

We rented our May interval (took all of one week on Redweek) so won't be there till September...

Pat


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## qlaval (Feb 5, 2008)

Congrats *ConnieG* may I ask where you posted your for sale ads or how did you find your buyer?


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## JimIg23 (Feb 5, 2008)

Someone else reported here a few weeks ago their NVC plat was ROFRed at 18k.  

Connie, did you post this on the ROFR website?  It says it passed ROFR.


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## dmharris (Feb 5, 2008)

camachinist said:


> EOY (if available) in both seasons and July 4 and Christmas week prices would be nice... I assume they'll give you the gold and platinum EY season prices as part of the presentation....
> 
> Building #'s scheduled to open this year....
> 
> ...


 
Will do Pat!


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## b2bailey (Feb 5, 2008)

*Need a little help understandin ROFR*

I need help understanding this thread.
Owner wanted to sell their Marriott timeshare.
Puts an ad somewhere and settled on the price of $17,000 per week
with the buyer.

Then what happened?

Thank you,
Bonnie


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## camachinist (Feb 5, 2008)

Marriott exercised their "Right of First Refusal" which is written into the ownership governing documents for Newport Coast, allowing Marriott to "buy" the interval(s) from the seller for the same price agreed to in the sale documents. Search this BBS for "ROFR" and you'll find plenty 

The seller gets their money and Marriott gets the intervals. The buyer loses out, though, but nothing  other than the value of their efforts.

Pat


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## Dave M (Feb 5, 2008)

camachinist said:


> Search this BBS for "ROFR" and you'll find plenty


Easier than doing a search, go to the FAQs (located at the top of the list of topics) for this Marriott forum. There is an FAQ on the topic of Marriott ROFRs.


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## Bill4728 (Feb 5, 2008)

camachinist said:


> b2bailey said:
> 
> 
> > I need help understanding this thread.
> ...



Please be aware that ROFR is a moving target. As Pat said earlier, the RORF price at NCV was about $16K now it seem to be $17K (and it has been for a couple years closer to $18K). So as a buyer, you can't be sure what price will get by Marriott. 

Just remeber that the guy who offered $17 could have offered just a little more and still saved over $15K off what Marriott is selling these exact same weeks for.


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## Cathyb (Feb 5, 2008)

Please ask what the cost would be to go from EOY to every year (Platinum) and if you would get the benefit of turning it in for Marriott Reward points every year if desired. TIA


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## Cathyb (Feb 5, 2008)

Isn't it true that the resale buyer does not get the benefit of Marriott Reward points?


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## camachinist (Feb 5, 2008)

Hey, I think they get MRP's if the pay MF's with their Premiere VISA, right? 

But, no, resales don't participate in the trade-in (for MRP's) program, the exception being if the "resale" is blessed by Marriott for a fee (as per historical annecdotes here on TUG).

I'm intrigued now by the possibility of an EOY->EY "trade-up"....good question 

Pat


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## TheTimeTraveler (Feb 5, 2008)

.



A resale buyer DOES get Marriott Reward Points but ONLY IF they buy the resale thru Marriott.

If the resale buyer purchases thru a private party then they WILL NOT receive Marriott Reward Points.

It's the Golden Rule.   The man with the Gold makes the rules, and Marriott rules that they provide points only if they get a piece of the sale or resale.



.


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## kdorward (Feb 5, 2008)

How much did you get for your NCV for your May rental?  I am think about renting a May week


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## camachinist (Feb 5, 2008)

YGPM 

Pat


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## ConnieG (Feb 5, 2008)

Lawlar said:


> A few questions, if you don't mind:
> 
> How long did it take for you to find a buyer for your unit?
> 
> ...


Lawlar:
We purchased 2 weeks in December 2004 and really enjoyed being Marriott owners!  Prior to that we had owned a week at Marriott Horizons at Orlando, and traded that week in for $9750, which was more than we paid for it in 2000.

I advertised the units on OwnerTrade.com in November 2007 for $18,000 and got an email on January 3rd, 2008 with an offer of $17,000.  We accepted and proceeded to contact Marriott with the information & they responded that they wanted to exercise their right of first refusal and purchase the unit.  We then requested the 2nd unit the same way and they offered to buy that one back, too.  We just signed the papers today and they state that we should have a check in 10-15 days.

I was laid off and our income dropped significantly.  I was concerned about the taxes & maintenance fees continuing to rise and now I understand the timeshare market better, I feel I can rent one without the responsibility of owning it.


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## ConnieG (Feb 5, 2008)

JimIg23 said:


> Someone else reported here a few weeks ago their NVC plat was ROFRed at 18k.
> 
> Connie, did you post this on the ROFR website?  It says it passed ROFR.


I did post to the website, but only AFTER I saw that $18k!


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## TSResalez (Feb 6, 2008)

camachinist said:


> That's interesting. I've been posting 16K as their ROFR ceiling for platinum, based on my information, so this is a good sign for NCV owners wondering about demand for the continuing build-out.
> 
> Other than a fast closing (some ROFR's have been slow), there should be no difference in your transaction compared to that with a private party. You got your asking price.
> 
> ...



I was the winning bid on this...hope it passes!


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## camachinist (Feb 6, 2008)

Keep us posted. I'm real curious where Marriott is going with NCV...


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## Californiaorbust (Feb 21, 2008)

*Newport Coast: A few newbie questions*

I am watching the one week Gold sales on Ebay.  I'm interested in the Gold (winter) months.  Is there any disadvantage to purchasing a Gold rather than a Platinum, other than dates and perhaps more limited trade value on II?

   Am I correct in assuming that once I purchase a Gold, that I can stay in any unit in any building, subject to availability?  I don't want to get stuck in an older (or not remodeled) building because I'm not a Platinum member.

   I see Gold sales on Ebay for $11,000 or so. I also see much higher priced listings on the boards for what I think are identical Golds.  Are all one week Golds (whether purchased on Ebay or directly from the seller) identical? I'm familiar with ROFR.


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## Bill4728 (Feb 21, 2008)

Californiaorbust said:


> I am watching the one week Gold sales on Ebay.  I'm interested in the Gold (winter) months.  Is there any disadvantage to purchasing a Gold rather than a Platinum, other than dates and perhaps more limited trade value on II?


Platinum owners can reserve the Summer months at NCV That is the only advantage that owning Plat vs Gold.  IMHO, the rest of Plat season has about the same value gold weeks



> Am I correct in assuming that once I purchase a Gold, that I can stay in any unit in any building, subject to availability?  I don't want to get stuck in an older (or not remodeled) building because I'm not a Platinum member.
> 
> I see Gold sales on Ebay for $11,000 or so. I also see much higher priced listings on the boards for what I think are identical Golds.  Are all one week Golds (whether purchased on Ebay or directly from the seller) identical? I'm familiar with ROFR.


All owners reserving during their home season get the first shot at requesting what ever units they want. A Plat owner can't request a unit during gold season at all ( since they can only request during Plat season not gold). There is no difference between gold and plat owners other than the season they can request. 

The ROFR for gold season seem to be above $11K so if you buy a gold at $11K marriott will likely take it back for themselves. 

All gold week are exactly the same and all plat weeks are as well. The only weeks which are different are the Plat plus weeks of July 4th, Dec 25 and Jan 1. 

Hope that helps


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## csledbetter (Feb 21, 2008)

Californiaorbust said:


> I don't want to get stuck in an older (or not remodeled) building because I'm not a Platinum member.


I have a Gold EOY week at NCV and they can not always accomodate a specific room request. We like a high floor in the main building that overlooks both the main pool area and the ocean, but I guess lots of other people do also. We have gotten it a couple of times, but other times we were in another building.
As far as an old/not remodeled building, there is no such thing at NCV. They maintain the buildings well, and it has not been around that long anyway. They have nothing I would call "old".


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## Californiaorbust (Mar 21, 2008)

*Newport Coast: Gold ROFR*

Mine passed at $11,800, took a couple of weeks.  I just saw that one sold on ebay for $10,600...I wonder how much lower they'll go and whether Marriott will approve them?


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## SDKath (Mar 21, 2008)

I also saw an EY Platinum go for $16750.  I wonder if it passed ROFR!  Kath


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## dioxide45 (Mar 21, 2008)

I updated the entry of the OP that was in the ROFR database. It indicated Passed. Though from reading the thread I take it the ROFR waiver request actually Failed.


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## keith (Mar 22, 2008)

We just got back from NCV. 

I did not read this thread till just now....but the EY gold price is 30,000 and the platinum is $33,000.


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## Clark (Mar 22, 2008)

ConnieG said:


> Lawlar:
> I advertised the units on OwnerTrade.com in November 2007 for $18,000 and got an email on January 3rd, 2008 with an offer of $17,000.



The correct site name is www.ownertrades.com


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## Bill4728 (Apr 14, 2008)

Saw one this weekend at a "buy it now" price of $11,500 for an annual gold week. I thought it would be likely not pass but who knows?


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## MOXJO7282 (Apr 21, 2008)

SDKath said:


> I also saw an EY Platinum go for $16750.  I wonder if it passed ROFR!  Kath



I know of one that recently passed at $16500. I'm in the process of trying to get past ROFR at an even better price point ($16,000), although I'm not sure that is the exact figure Marrriott sees. I was told brokers can add the closing and transfer fees to the ROFR figure, at least that is what 2 brokers told me they do. I'll report my luck when I get notification.

Regards.
Joe


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## hedin (Apr 21, 2008)

Where is the ROFR website that is mentioned in this post?

Curt






JimIg23 said:


> Someone else reported here a few weeks ago their NVC plat was ROFRed at 18k.
> 
> Connie, did you post this on the ROFR website?  It says it passed ROFR.


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## griffer331 (Apr 21, 2008)

Curt,

Here is the website.

http://dioxide45.tripod.com/cgi-bin/rofr.cgi


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## camachinist (Apr 26, 2008)

As a program note, I just saw that Seth Nock posted gold and platinum intervals at NCV at 12K and 17.9K, respectively. Since he is one of the most knowledgeable brokers regarding ROFR, I see those pricing levels as indicative of his confidence

Pat


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## luv2vacation (Apr 26, 2008)

camachinist said:


> As a program note, I just saw that Seth Nock posted gold and platinum intervals at NCV at 12K and 17.9K, respectively. Since he is one of the most knowledgeable brokers regarding ROFR, I see those pricing levels as indicative of his confidence
> 
> Pat




Pat, where did you see this?


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## MOXJO7282 (Apr 26, 2008)

I guess Seth goes after a different clienetele than a tugger, because no one on this board would pay anything near that these days. I secured one on ebay at $16K, and another just sold at $16200, so the market is lower than $17K at this point. Whether or not these pass ROFR is a different story.

Regards.
Joe


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## camachinist (Apr 27, 2008)

luv2vacation said:


> Pat, where did you see this?


On Redweek. I track Seth's listings on Ebay and Redweek for informational purposes. IME, he's pretty knowledgeable about Marriott's moving ROFR target, and, lately, seems to have pegged the trend higher than I had through independent research in the past. Ever elusive, ROFR is, but I like to understand the market at NCV, since we own multiple intervals.


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## Cathyb (Apr 27, 2008)

Diane:  Did you go to the presentation and if so did you post answers to questions we had on this group of posts?  I might have missed.  Am particularly interested in the cost to go from Every Other Year to Every Year.  Thanks!


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## MOXJO7282 (May 27, 2008)

My Newport Coast Plat ebay purchase passed ROFR. The sale price was $16,000, but I believe the broker puts all costs associated with the sale, including closing into the ROFR figure to Marriott. In that case it would be $16,595 total out of pocket.  I don't know for sure, but that is what one broker told me he does to try to get it through.

I'm wondering what number I should put in the ROFR database? Should I include the closing?What have others done?

Regards.
Joe

www.cambrafamily.com


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## aka Julie (May 27, 2008)

MOXJO7282 said:


> I'm wondering what number I should put in the ROFR database? Should I include the closing?What have others done?



In my case I only included the sale price, no other costs.


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## camachinist (May 27, 2008)

NCV sales must be real soft for 16K to pass on platinum. Good job Joe 

Pat


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## dioxide45 (May 28, 2008)

MOXJO7282 said:


> I'm wondering what number I should put in the ROFR database? Should I include the closing?What have others done?
> 
> Regards.
> Joe



I suggest posting the $ amount that Marriott waved on. This would be the full amount the broker submitted to Marriott. This is what I did.


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## JimIg23 (May 28, 2008)

camachinist said:


> NCV sales must be real soft for 16K to pass on platinum. Good job Joe
> 
> Pat



I agree.  It seems the direct from Marriott price has stayed the same for a while, even when other Marriotts are getting price increases.


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## Seth Nock (May 29, 2008)

In the last 6 weeks, Marriott backed off on right of first refusal for many properties.  There is no difference if you add closing costs and maintenance fees, because developers separate the costs.  They ask for a copy of the contract before giving a waiver.  Marriott right of first refusal for platinum weeks buy backs made it to a high of about $20,950 for buy backs and now seems to be high 15s.  However, this figure changes on a weekly basis.  I had many buyers who had their units bought back at $18,000, but now I am finally getting most of my units to my buyers.


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## MOXJO7282 (May 29, 2008)

A NCV plat just sold on ebay Tuesday for $15,200. I was bidding until it got past $14.5K. I hope somehow we find out if it passes ROFR or not. 


Regards.
Joe

www.cambrafamily.com


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## b2bailey (May 31, 2008)

*Rofr - Ncv*

I had many buyers who had their units bought back at $18,000, but now I am finally getting most of my units to my buyers.

= = = = 

Anybody have any ideas about ROFR $ at this time for a EOY Platinum at
NCV?


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## MOXJO7282 (Jun 3, 2008)

MOXJO7282 said:


> A NCV plat just sold on ebay Tuesday for $15,200. I was bidding until it got past $14.5K. I hope somehow we find out if it passes ROFR or not.
> 
> 
> Regards.
> ...



Just secured a plat NCV at $14700. Let's see how Marriott deals with that.

Regards.
Joe


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## davis6 (Jun 3, 2008)

After Marriott is notified of a resale how long do they have to exercise their rofr?  

I bought a platinum plus 4th of July NCV back in April.  The title company said that Marriott did not exercise their rofr.  They were able to tell me that pretty quickly. Title said the paperwork has already went to be recorded at the county recorders office.


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## Andar (Jun 3, 2008)

Joe, good luck, let us know!


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## MOXJO7282 (Jun 3, 2008)

davis6 said:


> After Marriott is notified of a resale how long do they have to exercise their rofr?
> 
> I bought a platinum plus 4th of July NCV back in April.  The title company said that Marriott did not exercise their rofr.  They were able to tell me that pretty quickly. Title said the paperwork has already went to be recorded at the county recorders office.



I think they have as much as 30 days to exercise ROFR. I just bought a NCV at $16K and they took all of that time to finally pass on the ROFR. Now I have this one going in at $14700, so this should be very revealing as to if Marriott is still in the acquisition mode.

I'm confident it will pass ROFR because I'm seeing alot NCV sales out there and I doubt they can continue to buy in this economy.


Regards.
Joe


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## davis6 (Jun 3, 2008)

Get the resales while they are such a bargan.  I am sure that Marriott is getting used to the new market and they will adjust.  Possibly by not building as many new projects but by sucking up a bit more of those resales.  Wouldnt be a bad idea.??


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## leskiw (Aug 3, 2008)

*ROFR at $14,700?*



MOXJO7282 said:


> I think they have as much as 30 days to exercise ROFR. I just bought a NCV at $16K and they took all of that time to finally pass on the ROFR. Now I have this one going in at $14700, so this should be very revealing as to if Marriott is still in the acquisition mode.
> 
> I'm confident it will pass ROFR because I'm seeing alot NCV sales out there and I doubt they can continue to buy in this economy.
> 
> ...



Joe were you successful getting past ROFR at $14,700?

Dave


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## MOXJO7282 (Aug 4, 2008)

leskiw said:


> Joe were you successful getting past ROFR at $14,700?
> 
> Dave



Yes.

Regards.
Joe


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