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ROFR - 30+ days

jlm77

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I'm still waiting on my ROFR. I just called the transfer company and they said 30 days is the average, but sometimes they do take longer. I'm checking their online tracking form almost daily.

This seems like such a long process. Once it clears, they are telling me 1wk to 1 month to record deed and another 4-6 weeks to have the resort sign off on it.

The process seems overkill and alot of paper work, for a 1 week annual vacation.
 

Cyberc

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I'm still waiting on my ROFR. I just called the transfer company and they said 30 days is the average, but sometimes they do take longer. I'm checking their online tracking form almost daily.

This seems like such a long process. Once it clears, they are telling me 1wk to 1 month to record deed and another 4-6 weeks to have the resort sign off on it.

The process seems overkill and alot of paper work, for a 1 week annual vacation.

Ny Rofr took 4 weeks and the deed are going to be recorded today. After that Hilton takes approx 3-4 weeks to complete the transfer in their system.

The recording of the deed normally takes 2 days or so. In my situation it took longer as the seller needed to provide the original deed to the closing agent. This took more than 1 week :annoyed:

I expect by end September that the transfer has completed.

Regards.
 

Talent312

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The original condo-declaration docs set the terms for ROFR.
Typically, they get 30 days in which to decide and notify.
In our case, they sent us a waiver in about three weeks.
.
 

llwilson

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What does Hilton use as criteria for the ROFR? Is it price only? Do they cross-reference buyers who may have recently taken the developer tour and exercise the rofr with them to make it harder to buy resale? Just wondering . . . hmmm
 

Talent312

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I think it has more to do with their inventory levels than anything else.
But net profit from a re-selling "their" unit prolly is a factor.

They won't want too much of a certain category and so pass on some.
OTOH, they may be short and thus, willing to pay more to get more.
.
 

JSparling

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I just have a ROFR come back in about 10 days. Perhaps some are more "automatic" for certain reasons (the price is high, the property is one they don't care about) and fly through ROFR while others (possibly yours) is one that needs more review/approval as it's borderline as to if they want it back or not.
 

vincepecoraro

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Mixed Experiences

My 4,800 point King's Land deed took exactly 30 days to pass ROFR, and the recording happened quickly thereafter. Still waiting for Hilton to complete its internal process, which will hit 30 days next week.

I also bought a 7,000 point Flamingo property (which this forum has stated multiple times is the only HGVC that ROFR is not required), and it has been 45 days since the title company submitted the request. I was contacted today, and they said they hope to know by next week. :crash:
 

Helios

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With your King's Land, can you please outline the steps that took place after getting ROFR?

I think recording and resort transfer are the only steps, is that right?
 

vincepecoraro

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With your King's Land, can you please outline the steps that took place after getting ROFR?

I think recording and resort transfer are the only steps, is that right?

You are correct.

The county has to record the deed, which happened extremely quickly. Then the resort took a full month to get its paperwork together and put the points into my account. The points officially hit my account two days ago on 16 Sep 2015.
 

Helios

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You are correct.

The county has to record the deed, which happened extremely quickly. Then the resort took a full month to get its paperwork together and put the points into my account. The points officially hit my account two days ago on 16 Sep 2015.

If you don't mind me asking, how much did you pay for your Kings' Land and what are your MF?
 

vincepecoraro

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I paid $1,825 including all transfer fees/title company fees.

Including the $140 annual member fee, my maintenance fee is $1,318 for 4,800 points.

This was my first unit and I really wanted to get something on the big island. On a cost per point basis, this is not the best deal at $.27 per point (maintenance fees wise). The high value point units can get as low as $.10 per point for maintenance fees.

What is interesting is that this same unit was originally purchased for over $22k less than five years ago, and Hilton didn't choose to exercise ROFR on my purchase that was a fraction of the cost. It isn't like there is really ever a new timeshare, so this tells me Hilton has abandoned its exercising of ROFR, at least on the low point value units.
 

Helios

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That's a low purchase price. Hopefully mine passes like yours.
 

jlm77

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Just received noticed that it passed ROFR, now they are working on recording the deed
 
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