# My first timeshare purchase - what should I know about the process?



## echino (Jul 7, 2017)

It is Hyatt Pinon Pointe, a fixed Silver week, the dates would work for my family. The owner and me agreed on price, and that I will pay for transfer and closing costs. I am aware that Hyatt has ROFR and there is a possibility they will exercise, even though I "heard" Hyatt is only actively buying back Diamond and Platinum weeks.

Upon recommendations that I read on TUG, I contacted LT transfers and they said they can handle the transaction, but in the event Hyatt exercises ROFR, I am out $50. Is there a way to structure the transaction so that it's completely risk-free for me as a buyer in case of ROFR?

Also, is there anything else I should know about the process? Does the fact that I am Canadian complicate things?


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## DeniseM (Jul 7, 2017)

Does the $50 go to LTT for handling your purchase up to the point of ROFR, or does it go to Hyatt?


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## echino (Jul 7, 2017)

DeniseM said:


> Does the $50 go to LTT for handling your purchase up to the point of ROFR, or does it go to Hyatt?



LT Transfers told me I need to pay them a non-refundable $50 fee for handling the transaction to the point of ROFR, and if Hyatt buys it back, then I am out $50. I don't really understand it. If Hyatt exercises ROFR, shouldn't they pay all the fees then associated with the transaction, including $50?


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## DeniseM (Jul 7, 2017)

Because you are paying LT Transfers for their services up until that point.  You are hiring LT Transfers - not Hyatt.  If Hyatt decides to exercise ROFR, they will do the transfer in-house.

If you think you can meet all the legal requirements, I suppose you could do the  paperwork and submit it to Hyatt yourself.


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## dagger1 (Jul 7, 2017)

Have the seller pay the $50 LT Transfers fee, that way they are out $50 if Hyatt exercises ROFR but still get their money.


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## breezez (Jul 7, 2017)

I think the $50 bucks is what they charge for the Escrow fee....  You can request the seller pay escrow costs if that risk bothers you.


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## Kal (Jul 7, 2017)

Or just stipulate the seller pays the $50 if Hyatt takes the unit on ROFR.  Otherwise, you pay if it's a clean deal.


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## DeniseM (Jul 7, 2017)

Escrow = fee to hold funds in a secure account during the title transfer.  If ROFR is exercised, there will be no escrow.  But whether or not ROFR is exercised,  LTT will have to expend resources to process the transfer up to that point.

Sent from my SM-T560NU using Tapatalk


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## echino (Jul 7, 2017)

OK, thanks! Another question. I want to use the 2018 week. It's now more than six months before check in, but by the time transfer is complete, it is likely going to be less than six months before check in. How to ensure I get the week guaranteed? Should I ask the seller to reserve the week in my name at the start of the process? Would then the reservation transfer into my account once the process is complete?


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## DeniseM (Jul 7, 2017)

echino said:


> OK, thanks! Another question. I want to use the 2018 week. It's now more than six months before check in, but by the time transfer is complete, it is likely going to be less than six months before check in. How to ensure I get the week guaranteed? Should I ask the seller to reserve the week in my name at the start of the process? Would then the reservation transfer into my account once the process is complete?


That would be a good question to ask LTT - they should be able to advise you.  If not, you could call the Hyatt title office to see how they handle it.

Sent from my SM-T560NU using Tapatalk


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## WalnutBaron (Jul 7, 2017)

echino said:


> OK, thanks! Another question. I want to use the 2018 week. It's now more than six months before check in, but by the time transfer is complete, it is likely going to be less than six months before check in. How to ensure I get the week guaranteed? Should I ask the seller to reserve the week in my name at the start of the process? Would then the reservation transfer into my account once the process is complete?


Be sure to read the sticky "Useful Links and Info About Hyatt Timeshare Ownership". The HRPP period will expire before you have title and your information is entered into the Hyatt system. You should ask the seller to reserve the week and request a guest certificate in your name so the week is reserved for you, as you will not be able to get this done in time before the fixed week passes into the CUP period.


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## bdh (Jul 8, 2017)

echino said:


> OK, thanks! Another question. I want to use the 2018 week. It's now more than six months before check in, but by the time transfer is complete, it is likely going to be less than six months before check in. How to ensure I get the week guaranteed? Should I ask the seller to reserve the week in my name at the start of the process? Would then the reservation transfer into my account once the process is complete?



As long as the seller reserves their HRPP week, the reservation will automatically transfer to you when Hyatt transfers the ownership of the week to you in their corporate records (no guest certificate is needed).


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## dagger1 (Jul 8, 2017)

echino said:


> OK, thanks! Another question. I want to use the 2018 week. It's now more than six months before check in, but by the time transfer is complete, it is likely going to be less than six months before check in. How to ensure I get the week guaranteed? Should I ask the seller to reserve the week in my name at the start of the process? Would then the reservation transfer into my account once the process is complete?



That's exactly what I did, the seller reserved the name in his name AND my name for the week WE wanted at HWOR.  I called before we went and we were on the reservation.  No problem at all with check-in...  One time at the lazy river bar the bartender, an extremely funky cool guy, asked "is there another name on the room?"  I gave him the name of the previous owner (he was listed first in the reservation), and there was no problem.  He never asked again (got to know me pretty well, I chilled with him while my 5 and 4 year old grand daughters cruised the lazy river!)


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## WalnutBaron (Jul 8, 2017)

dagger1 said:


> One time at the lazy river bar the bartender, an extremely funky cool guy, asked "is there another name on the room?"  I gave him the name of the previous owner (he was listed first in the reservation), and there was no problem.  He never asked again (got to know me pretty well, I chilled with him while my 5 and 4 year old grand daughters cruised the lazy river!)


I can just picture it: "Grandchildren, who wants to head out to the lazy river? Grandpa's thirsty!" Nice going, Dagger!  I like your style.


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## dagger1 (Jul 8, 2017)

WalnutBaron said:


> I can just picture it: "Grandchildren, who wants to head out to the lazy river? Grandpa's thirsty!" Nice going, Dagger!  I like your style.


WalnutBaron, be at the HWOR Wk23 2018 and my treat at the lazy river bar!!


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## WalnutBaron (Jul 8, 2017)

That sounds tempting


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## sts1732 (Jul 9, 2017)

bdh said:


> As long as the seller reserves their HRPP week, the reservation will automatically transfer to you when Hyatt transfers the ownership of the week to you in their corporate records (no guest certificate is needed).


This is what we did in our recent sale of Sunset. In the declaration I stipulated that I had the unit reserved, but the rights to occupancy for this year would transfer to the new owner. We had less than 90 days to get all the paper work done. The new owners are now at Sunset. There was no guest certificate needed.


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## dioxide45 (Jul 9, 2017)

dagger1 said:


> Have the seller pay the $50 LT Transfers fee, that way they are out $50 if Hyatt exercises ROFR but still get their money.





breezez said:


> I think the $50 bucks is what they charge for the Escrow fee....  You can request the seller pay escrow costs if that risk bothers you.


The OP agreed to pay all closing costs. The $50 is a non refundable deposit toward the closing costs paid by the buyer in this agreement. If the seller pays the $50 deposit and Hyatt exercises ROFR, the seller is out the deposit. One way to structure it would be to up the purchase price by $50 with the seller paying $50 in closing costs and the buyer paying the rest. If Hyatt exercises ROFR, then the seller still gets their full sales price from Hyatt and LT Transfers ends up with the initial deposit and the OP isn't really out anything. The seller is only out the $50 for the period of time between when they put the $50 in escrow and when Hyatt paid them from the ROFR.


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## dagger1 (Jul 9, 2017)

dioxide45 said:


> The OP agreed to pay all closing costs. The $50 is a non refundable deposit toward the closing costs paid by the buyer in this agreement. If the seller pays the $50 deposit and Hyatt exercises ROFR, the seller is out the deposit. One way to structure it would be to up the purchase price by $50 with the seller paying $50 in closing costs and the buyer paying the rest. If Hyatt exercises ROFR, then the seller still gets their full sales price from Hyatt and LT Transfers ends up with the initial deposit and the OP isn't really out anything. The seller is only out the $50 for the period of time between when they put the $50 in escrow and when Hyatt paid them from the ROFR.


Excellent solution!


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## echino (Jul 12, 2017)

dioxide45 said:


> The OP agreed to pay all closing costs. The $50 is a non refundable deposit toward the closing costs paid by the buyer in this agreement. If the seller pays the $50 deposit and Hyatt exercises ROFR, the seller is out the deposit. One way to structure it would be to up the purchase price by $50 with the seller paying $50 in closing costs and the buyer paying the rest. If Hyatt exercises ROFR, then the seller still gets their full sales price from Hyatt and LT Transfers ends up with the initial deposit and the OP isn't really out anything. The seller is only out the $50 for the period of time between when they put the $50 in escrow and when Hyatt paid them from the ROFR.



Thanks, that's what we did. Now waiting for ROFR response.


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## WalnutBaron (Jul 12, 2017)

echino said:


> Thanks, that's what we did. Now waiting for ROFR response.


FYI, Hyatt is allowed up to 30 days from date of conveyance of deed--and they take all 30. You should hear something from them in about a month.


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## echino (Jul 12, 2017)

OK, will wait. Now, another question. What is the maximum occupancy of the two bedroom unit at Piñon Pointe? I am reading all conflicting info:

Fact sheet on Hyatt website says 8:
https://www.hyatt.com/hyatt/images/hotels/sedsh/factsheet.pdf

If you try to make a reservation on Hyatt hotel website, it says 6:

Maximum guests per room: 6
And II website says 5:
https://www.intervalworld.com/web/cs?a=1503&resortCode=HYN&parentResortCode=HYN#.WWa9X4TyuUk

So what is correct, or maybe there is no limit that is actually enforced?

We are a family of five (including three kids), and I am trying to understand if it would be possible to take another married couple (relatives) with us making a total party of seven.

If it passes ROFR of course


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## Sapper (Jul 13, 2017)

My guess is six adults. Basically two per bed and two in the sleeper sofa. That being said, they don't seem to count the younger kids on the occasions we have maxed the guest count.


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## Tucsonadventurer (Jul 13, 2017)

More then 6 would be somewhat crowded but they don't enforce the number and if you were to bring an air mattress you could make it work for 7. It is set up as a lock off so it is basically a studio and a 1 bedroom with a comfortable.sleeper sofa.


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## Pathways (Jul 16, 2017)

echino said:


> OK, will wait. Now, another question. What is the maximum occupancy of the two bedroom unit at Piñon Pointe? I am reading all conflicting info


Would you accept 7?

There is a fold out 'chair' in the guest BR with a queen bed for total of 3. There is a fold out 'couch' in the other side with a king in the BR for a total of 4. They will also provide an air mattress for one more.

My answer would be you can stuff in 8, but 6 is more reasonable, and 4 is perfect.  (At least adults)


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## echino (Aug 14, 2017)

30 days have passed. LT Transfers says Hyatt sent estoppel to them, but no response on ROFR. They sent another email to Hyatt to follow up.

I believe the transaction can proceed now, because Hyatt did not notify LT or me as the buyer of their intent to exercise ROFR within 30 days, therefore their right to exercise ROFR has expired. Should I tell LT to proceed with the transaction, or should I agree to wait until they receive a response from Hyatt?


EDIT: Just received another email from LT.* Hyatt verbally told them ROFR has been waived*, just not in writing yet. So the transaction is proceeding.


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## dagger1 (Aug 14, 2017)

Congratulations!  My daughter will be at HPP on 9/11, we used some unexpected LCUP points that came with a recent purchase.  I have heard it's a wonderful resort.


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## WalnutBaron (Aug 14, 2017)

Glad all is going well. You will love HPP. It's a beautiful resort in a beautiful part of the country. First class in every way.


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## BJRSanDiego (Aug 14, 2017)

I looked on my last ii confirmation and it says that it sleeps 4 privately (2 BR) and 6 total.  Maybe they aren't sure about the pullout bed....  On my confirm it shows the following:  
*Sleeping Accommodations*
Living Area - 1 Pull Out Sofa(s)(Queen)
Bedroom 1- 1 King Size Bed(s)
Bedroom 2 -1 Queen Size Bed(s)

I think that it basically boils down to whether all three of your children could sleep in one bed.  If you decide to go through with it, some advice:  don't all seven of you show up in the lobby at check-in.


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## BJRSanDiego (Aug 22, 2017)

I'm at the Hyatt in a 2 BR unit.  The main unit has a King in the separate BR and a fold out couch in the living room.  The lock off (efficiency unit) has a queen and another fold out couch.  So, in theory, you could probably sleep eight.  The breakfast table has a padded bench, so you could sleep person #9.  (Although true, I mention this tongue-in-cheek).  BTW, there is patio furniture for six total.

Frankly, when I go on a vacation I do so to relax and not to have wall-to-wall people/guests.  So while you could probably pack in eight people (four doubles), I can't imagine that it would be all that fun.  Can you imagine eight people in the small kitchen?


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## youknowthenight (Aug 24, 2017)

Just went under contract on a 2bd Platinum EOY week at Pinon Pointe. Hoping to pass ROFR. Congrats on your purchase.


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