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Buying annual unit, but no points usage till 2021?

Panina

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I couldn't find an Anderson Ocean Club 1BR for anywhere close to what I am getting the Ocean 22 for. Maybe it's just a timing issue? The one 6200pt Anderson I found was 3-4 times the price I am paying.
The one I “won” on eBay recently started off overpriced for a regular contract while only being EOY. It was initially listed on eBay in a fashion where you could make offers. I think I offered $1,400 to have some negotiation room, and my offer was outright rejected. After that auction ended with no sale, they relisted it as an eBay auction with a low starting price. I “won” that auction for $809. We’ll see what happens with ROFR. Between it being EOY, us being at the end of the year, the fees and maintenance fees built into the sales contract, it might make it through. Fingers crossed.

I agree Myrtle Beach is an oven overlooked value. Some MFs/points are comparable to Vegas. It is easily driveable in a day from me. I is a great place for me to potentially have for both vacation and points.

With patience good deals come up with Anderson. I got a event July 4th week for 8400 points thru an eBay auction. Much more then your paid but overall a great value and the mfs is very good for the points I have.
 

natarajanv

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Heres an update:

The seller decided to cancel their reservation, so now the full 4800pts are available for 2019 usage. They also accepted my offer, which was $1000 less than they were asking. They offered to sell m another 4800pts which they can rescue from 2018 if I want, for an additional $1000. If not, I believe they will keep them, or convert to HHonors points.
Looks like the seller made it attractive for Hilton to buy it back.

What is your offer? What is the total cost to buy listed in the contract? Those are the factors Hilton uses to make it's Rofr decision.

You might get lucky and pass as it is the end of the year when there is less Rofr activity.

Sent from my Pixel 2 XL using Tapatalk
 

cas42021

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Looks like the seller made it attractive for Hilton to buy it back.

What is your offer? What is the total cost to buy listed in the contract? Those are the factors Hilton uses to make it's Rofr decision.

You might get lucky and pass as it is the end of the year when there is less Rofr activity.

Sent from my Pixel 2 XL using Tapatalk
Purchase price: $2000
Resort transfer fee: $399
MF first year due 2019: $708.75
Taxes first year due 2019: $43.49
Estoppels/waiver: $62
HGVC Activation Fee: $599
Club Dues: $176
Closing Cost: $630

So looks like in total with 2019 fees/dues paid it will run me $4,618.24

What, if any from above, will be presented to Hilton for ROFR? Is it only the $2000 purchase price?
 

Talent312

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What, if any from above, will be presented to Hilton for ROFR? Is it only the $2000 purchase price?

They get a copy of the contract, so they'll see the various add-ons.
But they discount their own fees+dues, leaving price+closing costs.
.
 

natarajanv

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Purchase price: $2000
Resort transfer fee: $399
MF first year due 2019: $708.75
Taxes first year due 2019: $43.49
Estoppels/waiver: $62
HGVC Activation Fee: $599
Club Dues: $176
Closing Cost: $630

So looks like in total with 2019 fees/dues paid it will run me $4,618.24

What, if any from above, will be presented to Hilton for ROFR? Is it only the $2000 purchase price?

So technically it will cost HILTON $2630.00 to buy it back. Please keep us posted on the Status.
 

Panina

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Purchase price: $2000
Resort transfer fee: $399
MF first year due 2019: $708.75
Taxes first year due 2019: $43.49
Estoppels/waiver: $62
HGVC Activation Fee: $599
Club Dues: $176
Closing Cost: $630

So looks like in total with 2019 fees/dues paid it will run me $4,618.24

What, if any from above, will be presented to Hilton for ROFR? Is it only the $2000 purchase price?
This can go either way. If it was Anderson I would bet they wouldn’t exercise rofr. Being it’s Ocean 22 and platinum that might exercise rofr. Let us know as soon as you know.
 

cas42021

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I certainly will. Out of curiosity, is this Hilton who will be given ROFR or is it the developer/affiliate? If its Hilton, do they have separate budget for each property, or just a budget as a whole for all properties?

Might be a question no one can really answer but was curious if there is any insight to this.
 

Tamaradarann

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I certainly will. Out of curiosity, is this Hilton who will be given ROFR or is it the developer/affiliate? If its Hilton, do they have separate budget for each property, or just a budget as a whole for all properties?

Might be a question no one can really answer but was curious if there is any insight to this.

I don't know for sure if there are individual budgets, however, since I believe the variables that they consider include price, points, maintenance, and the demand for inventory at a location for the HGVC resales force I don't know how it could be individual budgets
 

cas42021

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Unfortunately the developer (Not Hilton) has exercised their ROFR on my deal and I will not be getting it. Just received word today.
 

Panina

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Unfortunately the developer (Not Hilton) has exercised their ROFR on my deal and I will not be getting it. Just received word today.

So sorry but don’t give up.

That is interesting, didn’t know that could happen with Ocean 22. If what you were told is true, the developer will probably take most that are priced low as they probably make a nice percentage when Hilton sells it again.

You might consider Anderson as it seems they are not exercising much lately or an affiliate with no rofr.
 
Last edited:

natarajanv

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Sorry to hear that. But since the seller gave back the 2019 and 2020 points, it made it too attractive for Hilton to let go.
 

natarajanv

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Also, I heard that Hilton is still actively selling ocean 22. Try Anderson. That would have passed for the same deal.
 

cas42021

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Sorry to hear that. But since the seller gave back the 2019 and 2020 points, it made it too attractive for Hilton to let go.
Im not sure if the points would matter as Hilton did not get ROFR, the original developer did - King Cunningham. Since they are the affiliate/owner, do they resell these or does Hilton?
 

Panina

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Im not sure if the points would matter as Hilton did not get ROFR, the original developer did - King Cunningham. Since they are the affiliate/owner, do they resell these or does Hilton?
It would make a difference if they had to wait until 2021 to offer it to Hilton they might not have taken it. They get it immediately to offer Hilton. Still want someone else to verify developer is exercising rofr because this was the first time I heard of this for Ocean 22.
 

natarajanv

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It would make a difference if they had to wait until 2021 to offer it to Hilton they might not have taken it. They get it immediately to offer Hilton. Still want someone else to verify developer is exercising rofr because this was the first time I heard of this for Ocean 22.
We also did not hear anyone buying this low passing ROFR though.

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natarajanv

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Im not sure if the points would matter as Hilton did not get ROFR, the original developer did - King Cunningham. Since they are the affiliate/owner, do they resell these or does Hilton?
King Cunningham is the law firm which process ROFR. Google them. South Carolina is a lawyer state for Rofr process, so the process goes to them instead of Orlando according to my broker.

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cas42021

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King Cunningham is the law firm which process ROFR. Google them. South Carolina is a lawyer state for Rofr process, so the process goes to them instead of Orlando according to my broker.

Sent from my Pixel 2 XL using Tapatalk
They are the developer's law firm. According to my broker this was exercised by the developer and not Hilton.

Sounds like I should have not made a big deal about the 2019 & 2020 points. Might have even got it cheaper and pass ROFR.
 

cas42021

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I'm resurrecting this post because although I passed on the deal from this initial post, I have a similar scenario on a new deal.

I made an offer on another Annual Platinum 1BR for the asking price and seller accepted. Both the listing and the contract I signed showed the full 4800 points available for first usage in 2019. A couple days after I sent the signed contract, my broker notified me the seller does not have point usage till 2020, and asked if I want to proceed.

My question here, is if I proceed, and Hilton waives, am I still able to borrow some of the available 2020 points for a trip this year in 2019? Or will I need to wait till next year to use my new interval?
 

Talent312

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As long as HGVC activates your account in time to book a place.
There should be time, even if doesn't happen until April or May.
Borrowing is automatic... the system draws the points you need.
.
 

hurnik

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I'm resurrecting this post because although I passed on the deal from this initial post, I have a similar scenario on a new deal.

I made an offer on another Annual Platinum 1BR for the asking price and seller accepted. Both the listing and the contract I signed showed the full 4800 points available for first usage in 2019. A couple days after I sent the signed contract, my broker notified me the seller does not have point usage till 2020, and asked if I want to proceed.

My question here, is if I proceed, and Hilton waives, am I still able to borrow some of the available 2020 points for a trip this year in 2019? Or will I need to wait till next year to use my new interval?

I'll have to look at my Flamingo paperwork, but if it shows points for 2020, then yes, you could borrow for 2019.
Although I'd be re-negotiating since you were originally told 4800 points for 2019 (unless you reimbursed the seller for the MF and they will refund/credit that amount to you now). Otherwise, IMO, it kinda makes you get less for the same amount of money. Just my opinion of course.
 

cas42021

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I'll have to look at my Flamingo paperwork, but if it shows points for 2020, then yes, you could borrow for 2019.
Although I'd be re-negotiating since you were originally told 4800 points for 2019 (unless you reimbursed the seller for the MF and they will refund/credit that amount to you now). Otherwise, IMO, it kinda makes you get less for the same amount of money. Just my opinion of course.

Thanks. I agree, it's not ideal. I have not paid MF's, the seller has for 2019, and I confirmed they obviously are not looking to be reimbursed. The only reason I am considering it, is because its priced right based off this issue..and I'm hoping Hilton will be less likely to exercise ROFR as a result of this. Might be a way to get the killer deal I had been waiting for..still not sure what I'm going to do though.
 

hurnik

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Thanks. I agree, it's not ideal. I have not paid MF's, the seller has for 2019, and I confirmed they obviously are not looking to be reimbursed. The only reason I am considering it, is because its priced right based off this issue..and I'm hoping Hilton will be less likely to exercise ROFR as a result of this. Might be a way to get the killer deal I had been waiting for..still not sure what I'm going to do though.

I was in something similar with my Flamingo purchase. I didn't have to reimburse for MF, but I didn't have usage for the entire next year (unless I borrowed), but they had priced the unit accordingly (heavily discounted), so it was OK for in my mind.
 
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