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Hyatt Beach House - What kind of deal did you get buying Resale?

Sugarcubesea

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Or I wonder if the buyer bid on both and had a top price listed and ended up with both unexpectedly so they ended up throwing one back.

Oh I bet that’s what happened. I thought it was odd that both ended for the exact same amount.
 

Sugarcubesea

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O.k. Found another Highlands unit on eBay and we will see if it goes through. This one actually bit better overall in that it is an annual Platnimum unit with 2,000 points (200 fewer points, but it every year vs. just EOY). The purchase price is about 1/2 of what the purchase price was on the previous EOYE diamond week that just failed, so not really expecting it to pass, but maybe I will get lucky (i.e. maybe they are just targeting diamond weeks etc.). This is a week 20 unit, which fits very well with my busy work times so will most likely be using it more often than not if it does go through.

The waiting begins again......

I was thinking about you and wondered if your purchase passed ROFR
 

ResaleExpert

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Congratulations on your week 20 purchase and we would all like to hear if Hyatt waives.
I've sold over 50 Hyatt weeks this year alone and have had only a couple weeks exercised by Hyatt earlier in the year across all resorts, so your Diamond week must have been a very low price. Current Platinum weeks are asking under $5,000 and these have been consistently waived at these prices or less. Diamond weeks here are often priced and sold at significantly higher prices vs. Platinum due to the extraordinary demand to occupy. Gold week with 1,880 points here are now asking $2,000.
 

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Is your friend looking for a particular week or amount of points? I have about 60 listings here and would be pleased to help for these or any broker's listings. Bill

Where are your listings
 

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Thank you
About 40 at Beach House, 35 at Windward Pointe and about 20 at Sunset Harbor.
Please let me know which resort, weeks or seasons.
 

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Here are 22 listings for Sunset Harbor
2-221 $15,900
5 412 $12,500
15 114 $9,900
15 232 $12,995
17 124 $12,900
21 121 $8,500
21 131 $9,000
22 211 $4,000
22 114 $4,900
23 232 $5,500
30 321 $9,990
34 134 $7,000 plus unit 412
36 221 $6,700
39 111 $7,900
41 413 $7,900
43 511 $15,900
47 121 $7,900
48 512 $12,900
49 512 $12,900 same seller
50.tbd. $8,000
Bill
 

Sugarcubesea

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I've been following the ROFR threads to help my friend who put an offer for a week 10 at Beach House. She received notice that her broker submitted her ROFR on November 1 (she hopes he really did submit on this date, as previously he told her he submitted mid-October).

I told her that if she does not receive a response by December 1st, she should do the following, since she is 9 days out:

I gave her the advice to reach out to him on December 3 (first business day after 30 days) and insist that they go to closing since legally Hyatt did not exercise ROFR.

I have shared the recent posts of the ROFR's that have passed so now she has a bit of hope hers might just pass....

Am I giving her good advice?
 

ConejoRed

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Sorry for the delay (live in the Wolsey Fire zone). I am still waiting on an official ROFR for my Highlands Platinum week 20 @$2,000. It was submitted on October 15 and the agent has followed up several times with no response. I let them know of the issues with the Hyatt transfer department reportedly being closed and transferred to Marriott and since we are now past 30 days, they were go to see what their next steps should be since under the rules it has technically now passed by default.
 

Sugarcubesea

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Sorry for the delay (live in the Wolsey Fire zone). I am still waiting on an official ROFR for my Highlands Platinum week 20 @$2,000. It was submitted on October 15 and the agent has followed up several times with no response. I let them know of the issues with the Hyatt transfer department reportedly being closed and transferred to Marriott and since we are now past 30 days, they were go to see what their next steps should be since under the rules it has technically now passed by default.

I really hope your able to go to closing and you get this deal...and your right it technically now has passed by default.
 

Sugarcubesea

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My girlfriend that is in the process of trying to purchase a week 10 at Beach House (and still waiting for ROFR) is wondering that since she will not know if she gets this unit till December, how will she be able to use her unit if everthing does not get completed till late December and her unit is for the beginning of March.
Do all of the points go into a situation that she can only use them for a short time frame?

thanks for the help, I really hope she gets this unit as her excitement is contagious.
 

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My girlfriend that is in the process of trying to purchase a week 10 at Beach House (and still waiting for ROFR) is wondering that since she will not know if she gets this unit till December, how will she be able to use her unit if everything does not get completed till late December and her unit is for the beginning of March. Do all of the points go into a situation that she can only use them for a short time frame?

thanks for the help, I really hope she gets this unit as her excitement is contagious.

The HRPP window on week 10 closed in early July 2018 - so the current owner of the week being purchased will know if they reserved the deeded week/unit at Beach House for 2019.

If the HRPP reservation wasn't confirmed, the points are in CUP from now until early March 2019. CUP points are relatively easy to use for nice weeks at great properties - your just not going to get a ski week in Colorado or prime week at Sunset Harbor, etc.

If the CUP points aren't used to make a reservation by March 2019, the points will roll to LCUP. As many others on TUG have previously noted, you don't want to have LCUP points as their use is extremely limited.
 

Sugarcubesea

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The HRPP window on week 10 closed in early July 2018 - so the current owner of the week being purchased will know if they reserved the deeded week/unit at Beach House for 2019.

If the HRPP reservation wasn't confirmed, the points are in CUP from now until early March 2019. CUP points are relatively easy to use for nice weeks at great properties - your just not going to get a ski week in Colorado or prime week at Sunset Harbor, etc.

If the CUP points aren't used to make a reservation by March 2019, the points will roll to LCUP. As many others on TUG have previously noted, you don't want to have LCUP points as their use is extremely limited.

Thank you for this help. I sent her your message via email and she now has another question.

  1. If the points are in CUP, can she use those points to make a reservation for a time after March of 2019?
 

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Thank you for this help. I sent her your message via email and she now has another question.
  1. If the points are in CUP, can she use those points to make a reservation for a time after March of 2019?

Short Answer: Yes

Longer Answer: From now until March 9, 2019 a reservation could be made for anything available in the Hyatt system 12 months into the future from the "time of point use". On March 10, 2019, the current CUP points will roll to LCUP. The LCUP points will expire/cease to exist in 6 months (Sept 8, 2019). A reservation could be made for anything available in the Hyatt system with a check-in date 60 days into the future from the "time of point use".

NOTE: the "time of point use" is a rolling window. IE: if making a reservation today with CUP points, only units with a check-in date 12 months from today could be confirmed - if making a reservation tomorrow, it would be units available 12 months from tomorrow, etc. With LCUP points, the reservation check-in date is limited to 60 days in the future in lieu of 12 months.
 

Sugarcubesea

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My friend just emailed me and wrote to her realtor as I suggested and he came back with this statement below. When she asked him how it could be 45 business days when it clearly states 30 days (not business days) on Hyatt's website. He stated it just takes them that long. She is now really bummed and mad because she feels that if it gets to 45 business days that will be December 15 and if it's not ROFR'd she will not have time to make a reservation for something..

"Hyatt always responds within the 30-45 business days timeframe, they will not provide us with any other update until they make their decision"

 

Sugarcubesea

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Short Answer: Yes

Longer Answer: From now until March 9, 2019 a reservation could be made for anything available in the Hyatt system 12 months into the future from the "time of point use". On March 10, 2019, the current CUP points will roll to LCUP. The LCUP points will expire/cease to exist in 6 months (Sept 8, 2019). A reservation could be made for anything available in the Hyatt system with a check-in date 60 days into the future from the "time of point use".

NOTE: the "time of point use" is a rolling window. IE: if making a reservation today with CUP points, only units with a check-in date 12 months from today could be confirmed - if making a reservation tomorrow, it would be units available 12 months from tomorrow, etc. With LCUP points, the reservation check-in date is limited to 60 days in the future in lieu of 12 months.

Thank you so much for the help and all of these questions my friend has...I just sent her this info...you are so kind to help and this is why I LOVE TUG!!!!
 

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My friend just emailed me and wrote to her realtor as I suggested and he came back with this statement below. When she asked him how it could be 45 business days when it clearly states 30 days (not business days) on Hyatt's website. He stated it just takes them that long. She is now really bummed and mad because she feels that if it gets to 45 business days that will be December 15 and if it's not ROFR'd she will not have time to make a reservation for something..

"Hyatt always responds within the 30-45 business days timeframe, they will not provide us with any other update until they make their decision"
The contractual agreement, rules posted, take president over the realtors "experiences" . Legally, after 30 days Hyatt passes, with or without a response. I'd be questioning the realtors experience...
 

Sugarcubesea

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The contractual agreement, rules posted, take president over the realtors "experiences" . Legally, after 30 days Hyatt passes, with or without a response. I'd be questioning the realtors experience...

I’m thinking her realtor said that because he probably did not submit this on the date that said he did. He originally told her he sent it on October 19 and then when she emailed him after 30 days he said it actually went out on Nov 1. So legally if they don’t respond by Saturday night Dec 1, this unit should be hers. However they are telling her they should not get notification till Dec 13 to 15. This realtor seems to believe it’s 30 business days vs 30 calendar days for ROFR.

Thanks for the info, I will forward that on to her. I will keep everyone posted as to her outcome.
 

Sugarcubesea

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My friend put in an offer of $5,900 for the week 10 at Beach House and she told me just now that they are going to submit the paperwork in the morning...I think she is very nervous that it will not go through...

Just wanted to let everyone know that my girlfriend just got word that this unit passed ROFR, she now has 2,200 points in CUP to use.

They stated that her HRPP Occupancy Date is 4/12/2020, does anyone what that means?
 

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Just wanted to let everyone know that my girlfriend just got word that this unit passed ROFR, she now has 2,200 points in CUP to use.

They stated that her HRPP Occupancy Date is 4/12/2020, does anyone what that means?

Hooray!
I think it means her first use of her fixed week is 2020, since it is past the HRPP for confirming the 2019 week.
However, I thought she was buying week 10. My week is week 13, and that is at end of March/early April. So her week 10 would fall in early-mid March.
 

Sugarcubesea

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Hooray!
I think it means her first use of her fixed week is 2020, since it is past the HRPP for confirming the 2019 week.
However, I thought she was buying week 10. My week is week 13, and that is at end of March/early April. So her week 10 would fall in early-mid March.

She is buying week 10, I will ask her to check with her realtor and ask him why this date is wrong?
 

Sugarcubesea

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My girlfriend is still waiting for her week 10 to get transferred into her name. First her realtor sent her the wrong paperwork to sign for the transfer and that delayed things a bit. She is really getting nervous

Should I have her call the 800 Hyatt number?

Thanks.
 

Sugarcubesea

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So my best friend who purchased this HBH unit back in October and with it passing ROFR at the end of November still does not have access to this unit.

What should I advise her to do. Her realtor says they are just waiting for the ded to be recorded.

Ugh, I hope the one I bought doesn’t take this long
 
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ResaleExpert

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My best friend wants to purchase a Hyatt Beach House... What would be a good resale price and would she ask for an estoppel once she finds the resale she wants to purchase?

thanks...
A reputable escrow company will provide all seryincluding estoppel.
There are some sellers that may be more motivated but most Key West Diamond weeks are about $8,000 up. I have over 100 Key West listings alone if you were looking for a more ape fix week or unit location. Bill
 

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So my best friend who purchased this HBH unit back in October and with it passing ROFR at the end of November still does not have access to this unit.

What should I advise her to do. Her realtor says they are just waiting for the ded to be recorded.

Ugh, I hope the one I bought doesn’t take this long

The process of getting a deed recorded in Monroe County and then getting Hyatt to transfer ownership is not a fast one - while it could be as quick as 4 weeks, it's typically 2+ months. Add in the behind scenes changing of staff in the Hyatt to Marriott transition and the time frame your friend is experiencing is not unexepected. The Go Hyatt folks can't provide any assistance - your friend doesn't have a Hyatt member number for them to look up or reference.
 
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