# Question about Hyatt's ROFR policy and timeframe



## PamMo (Sep 15, 2014)

Poring through Kal's website on Hyatt, the ROFR policy (below) sounds wide open. If I'm reading it correctly, the Seller (who is called "Purchaser" in the Hyatt documents, because he bought from the developer) has to give Hyatt at least 30 days notice before reselling his week, and Hyatt has the right to exercise first refusal until the sale closes.
_Developer Right of First Refusal before Resale

Before Purchaser may resell the Purchaser’s Unit Week to a third party and for so long as the Developer  holds Unit Weeks for sale at the Condominium, Purchaser is required to offer  the Purchaser’s Unit Week to Developer upon the same terms and conditions, including financing, as is offered by or to the third party. Accordingly, Purchaser must notify Developer in writing no less than 30 days in advance of the proposed closing date of the Purchaser’s intent to sell and must include a copy of the proposed transaction reduced to writing in all respects. Upon receipt of such written notice, Developer shall determine prior to the proposed closing date whether it wishes to exercise its right of first refusal. If Developer elects to exercise its right of first refusal, Developer shall notify Purchaser in writing of such election, and the purchase by Developer shall be closed on or before the proposed closing date. If Developer fails to notify Purchaser of its election to exercise its right of first refusal prior to the proposed closing date, Purchaser may proceed to close the transaction with the third party upon the original terms and conditions offered by or to the third party. Developer’s right of first refusal is a covenant that runs with the land and shall always be a requirement binding on any successor in title to Purchaser._​
With some big resellers' closing companies taking months to close and complete a transfer (many state closing will take 90-120 days), it appears that Hyatt could exercise ROFR at any time up until closing.  In reality, how long does Hyatt wait to exercise ROFR? Beaglemom3 posted that she was told 30 days. Is that the norm?


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## ondeadlin (Sep 15, 2014)

It has been years since anyone has reported Hyatt exercising ROFR.

Once you notify them of the sale, They always take 30 days to answer, give or take a day.


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## Beaglemom3 (Sep 15, 2014)

I passed ROFR recently. The price was low, but it passed. Had to wait the 30 day period. 

It was a winter week at Hyatt Sunset Harbor and went for 8.5k.

The realtor said that Hyatt hadn't exercised their ROFR in a long, long, long time.


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## PamMo (Sep 15, 2014)

Thank you. Thirty days seems like such a long time to wait in limbo to hear if your purchase passes ROFR. Especially when I'm used to Starwood's 10 business days!


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## Beaglemom3 (Sep 15, 2014)

PamMo said:


> Thank you. Thirty days seems like such a long time to wait in limbo to hear if your purchase passes ROFR. Especially when I'm used to Starwood's 10 business days!



 It was anxiety-producing, but my realtor was very reassuring and she was correct.


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## SunandFun83 (Jan 17, 2015)

*30 days, never less*

I have purchased a few times from Hyatt in 2013 and 2014.  I find that ROFR always takes 30 days, sometimes an extra week.  I have learned to be extra patient waiting for deed transfer.  I used to complain after 30 days and they told me "30 business days".  I think they are just understaffed and far behind in this area.

I have not heard of Hyatt exercising ROFR, even at low prices.  Interval may recognize that ROFR at 25% of retail price is a great way to make new inventory.  Marriott is actively taking platinum weeks at some top resorts at prices below 25%.


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## Tucsonadventurer (Jan 20, 2015)

We waited 30 days plus and then it took awhile because of Christmas holidays and staff vacations before it was placed in our name. We purchased a resale at Pinon Pointe. It was worth waiting for and we are having so much fun planning our trips!


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## TBipp (Jan 30, 2015)

*Where to Search for Resale Hyatt Weeks?*

I am curious as to where some of you learned of resale Hyatts?  We would like Key West Sunset Harbor for 10 and 11.  We have Key West Beach House for 9.

Thanks


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## Tucsonadventurer (Jan 30, 2015)

We signed up for the watch list on tug. We initially bid on a 22000 point but it was already sold and then tried for the 2,000 which worked out. We very likely may get second week. Some folks have had luck on ebay as well. Good luck. We haven't made it to Key West yet but have Bonita Springs booked for Feb.


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## ocdb8r (Mar 15, 2015)

A few follow up questions to the OP:

1) Anyone have any ROFR updates since Interval took the reigns?

2) Is Hyatt still selling weeks at all resorts?  I note the ROFR language explicit states it is only in effect "so long as the Developer holds Unit Weeks for sale at the Condominium."  Are they still selling at High Sierra (where I am looking to purchase).

3) Finally, someone mentioned they always take 30 days, sometimes more....along with a reference to Hyatt saying they have 30 business days.  Has anyone pushed them on these points?  First, it's clear in the ROFR language that failure to respond by the proposed closing date (which must be at least 30 days out) allows the seller to proceed with the transaction.  Second, nowhere does it say "business" days.

...after typing this, I feel like a freak.  I know I should just patiently wait out the process and let it be, but the ADD tugger in me wants to know about and control every aspect of the process.  Please forgive me.


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## Tucsonadventurer (Mar 17, 2015)

I seriously would not worry about Hyatt exercising their right. We waited 30 days not business days to hear we were clear. Hyatt is concentrating on Hawaii right now. Our agent said that maybe in 2 yrs Hyatt would change their focus and start buying back but currently it has not been happening.


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## sjsharkie (Mar 17, 2015)

ocdb8r said:


> A few follow up questions to the OP:
> 
> 1) Anyone have any ROFR updates since Interval took the reigns?
> 
> ...



For #2, I don't believe they are directly selling at HSL.  For the owners wine and cheese update that I attended while staying last June, they brought in a third party reseller that (according to the staff member I talked to) sells the foreclosures on behalf of the HOA.  Don't know if it's true or not but it seems to align with what I saw -- why would you bring a third party reseller in if the resort was directly selling weeks?  

As others have said, I wouldn't worry about it.  I doubt ROFR will be exercised unless it is something clearly at a bargain basement price (say HSL week 52 for $1,000).

-ryan


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## jonevans (Mar 20, 2015)

*same boat just HGVC*

What to worry about?
you paid if buying  or will be receiving back funds if RoFR is used by hyatt.
To me it is the time  inbetween that I'm happy to pay a new unit and until I have online acesse seems that I always see the next deal to buy. So when you are In title transfer and waiting for months you have to wait for months. Just know that months are months aND end of years and start of years seem to be busiest  time of year fo r sales and a call every month is my normal way of communication 
Hyatt is nice but just a little more complicated than. Hilton.  May be my next purchase but can't seem to trust them enough as the have Tahoe then they sell Tahoe and then some are fractionAL units just  confused  and to busy to swimming through these waters right now but have stayed In CalifornIA units and nice time each time but then there is cost. 
Anyways the Calendar don't lie it takes months . I think you are getting second thoughts but 2 late price set, contract sent and recorded, and time keeps marching and you can't plan a single thing  till everyone gets there piece of the pie you baked and then you will be cleaning all the dishes and pie plate, and then months from now you can plan for a trip that will be about a yeAR away. Months, months, dam year.  That is time shares  secret  is to not have to many and as soon as you return from vacation plan the next one months away


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## TFTG (Jun 24, 2015)

ocdb8r said:


> A few follow up questions to the OP:
> 
> 1) Anyone have any ROFR updates since Interval took the reigns?
> 
> ...



I recently attended a sales presentation at Hyatt Highlands Inn in Carmel and the sales person told me they always exercise their ROFR and went into detail about how they do it and why.  I just smiled and listed intently and then asked her if she could show me some recent examples since there were some recent resales at the property...  

The talk from the sales people is in stark contract to what actually is going on...I recently purchased a diamond week at Hyatt High Sierra and they took about 35 days to pass on the ROFR.  The resale agent said Hyatt hasn't exercised their ROFR in a long time, but they take the full amount of time to respond back. 

They do seem to be focusing on Maui, as the sales person at the Carmel presentation kept talking about Maui and how I could trade there easily by buying through her at Carmel


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## NWTRVLRS (Jun 24, 2015)

ocdb8r said:


> A few follow up questions to the OP:
> 
> 1) Anyone have any ROFR updates since Interval took the reigns?



We passed ROFR after II took the reigns... And yep, 30 days for sure


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## Kal (Jun 24, 2015)

RandyS84 said:


> ...They do seem to be focusing on Maui, as the sales person at the Carmel presentation kept talking about Maui and how I could trade there easily by buying through her at Carmel



 If the sales person lips are moving, it's all time share huckster speak.


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