# HGVC Flamingo, Las Vegas BuyBack



## DavidCooper (Aug 9, 2011)

Is Hilton excercising buyback on the HGVC Flamingo?  I was told Strip and Hilton Hotel, yes, but the Flamingo was exempt.


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## loafingcactus (Aug 9, 2011)

DavidCooper said:


> Is Hilton excercising buyback on the HGVC Flamingo?  I was told Strip and Hilton Hotel, yes, but the Flamingo was exempt.



Flamingo doesn't have Right of First Refusal in their contracts.  It isn't that they are  not exercising, it is that they can't.


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## Judi Kozlowski (Aug 17, 2011)

*Flamingo Buybacks*



loafingcactus said:


> Flamingo doesn't have Right of First Refusal in their contracts.  It isn't that they are  not exercising, it is that they can't.



However, Hilton is making offers to Owners at the Flamingo and have bought a lot of units there in the past few months.


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## rjp123 (Aug 18, 2011)

All I know is that I'm glad I bought my Miami Beach 1.5 years ago when the market was depressed and ROFR was not being exercised.


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## JM48 (Aug 18, 2011)

Judi,

 I understand why they are buying back & I know there is no ROFR at the Flamingo. What I am curious about is there a way that they can alter the new deeds so they can add ROFR?

 Thanks,

 JM


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## Talent312 (Aug 19, 2011)

JM48 said:


> ... is there a way that they can alter the new deeds so they can add ROFR?



_I take it that you mean deeds for TS's they buy back..._ 
I 'spose that it might be legal for them to do so for any TS they resell. Any seller can do so in a deed, but for HGVC, it would be an administrative mess.

Typically, the ROFR is spelled out in the Declarations incorporated by reference in a deed, but for Flamingo, the details would have to be added to each deed. Then they'd need to track which TS's had such deeds. I tend to doubt that they'd want to create two classes of owners -- those subject to the ROFR and those who are not.

But let's not give them any ideas, shall we?


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## JM48 (Aug 19, 2011)

Talent312

 Yes that's what I was thinking. I can see why they want Flamingo property back for resale it is the best location on the strip. I own at Karen Ave. but we stay at the Flamingo. 
 I am sure it really is a thorn in their side without ROFR.

 But I won't say anything, we will keep this between ourselves!! :ignore: 

 Thanks,

 JM


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## janckenn (Aug 19, 2011)

When I wanted to add additional points by resale, I bought HGVC Flamingo because there was no ROFR.  It has become my favorite spot in Vegas, due to location, location, location!  It will become my retirement site.


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## loafingcactus (Aug 19, 2011)

I keep seeing Flamingo floating weeks on EBay... Are those really floating weeks or are the sellers confused?  Are there Flamingo fixed weeks?


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## jestme (Aug 19, 2011)

Unfortunately, "administrative nightmares" are usually handled by lower level staff, and direction for doing this would have come from the top. Besides ROFR, perhaps the market for the Flamingo is large enough to justify trying to buy them back from owners directly. I'm sure they have statistics that show which owners are active, which ones have paid MF's on time, which are behind in making payments, etc. to guide them to the more receptive sellers.


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## Remy (Aug 19, 2011)

loafingcactus said:


> I keep seeing Flamingo floating weeks on EBay... Are those really floating weeks or are the sellers confused?  Are there Flamingo fixed weeks?



Yes, event weeks were sold as fixed weeks (51/52).


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## Talent312 (Aug 19, 2011)

loafingcactus said:


> I keep seeing Flamingo floating weeks on EBay... Are those really floating weeks or are the sellers confused?  Are there Flamingo fixed weeks?



Well, every week purchased kind'a "floats" since the owner must aatempt to make a reservation when + where he wants to stay, except for "event weeks." These weeks (51/52) are automatically reserved, subject to cancellation by the member for alternate use.


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