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Just Passed ROFR

Discussion in 'Hyatt Residence Club' started by Sugarcubesea, Jan 14, 2019.

  1. SHG

    SHG Guest

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    HGVC Flamingo
    HGVC on Blvd
    Company is Vacation Properties for Less......

    Wasn't there a Hyatt representative on tug that can help with these kinds of problems?? Anyone know the contact info??/
     
  2. dsmrp

    dsmrp TUG Member

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    Sorry your points are in LCUP now; that is a long period to complete a sale.
    I believe based on another thread in this forum that you could still deposit your points into Interval; they wouldn't be in the HRC EEE, but still usable in Interval. I'm a new HRC owner, and was only a few weeks past my EEE deadline back in December. When I called HRC customer support, the agent let me do a one-time deposit of CUP points into EEE. I was also doing a reservation at the time, so I deposited the remainder of my CUP points. Try calling HRC, explain situation and see if they'll grant you an exception :ponder:

    Actually the escrow/closing company doesn't have any way to make a reservation for you or deposit CUP points.
    Until HRC records the ownership change, the seller is the only one who can do these. If you asked the closing company to request to the seller to do one of these, and seller didn't, then it's on the seller. I would think most sellers are pretty cooperative though. Maybe the closing company just didn't pass on your request...

    I had a pretty good closing company TRCS, on my purchases; used them 2x cause I bought thru RE agent. They cost more than the one recommended in the Buying/Selling forum, but responsive and on top of things IMO.
     
  3. ConejoRed

    ConejoRed TUG Member

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    I am in the middle of Hyatt transfer with Vacation Properties for Less and it is also going very slowly as well. Went to ROFR March 20th, and finally heard back on May 3rd on ROFR (passed), but only after I emailed them to check on the status. I am going to start checking back each week to make sure it is moving. It’s a Week 3 unit and I am going it transfers in time to either book Week 3, 2020 or book something else with CUP. The Ad did say free 2029 use, but also that it was not guaranteed so not sure what, if anything I will end up with.
     
  4. Pathways

    Pathways TUG Member

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    You've got issues - but not with Hyatt. I made three purchases during your timeline, two different resorts. Longest time for ROFR was 13 calendar days. If the closing people are sending the proper paperwork to the proper email, the ROFR is currently running less than 3 weeks.
     
  5. ConejoRed

    ConejoRed TUG Member

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    I agree that it is probably not with Hyatt. That is why I will start hounding them next week and keep on top of them. I purchased a different Hyatt unit at the end of November and it was completed in about 6-7 weeks including the ROFR process that took the full 30 days as well (when they were transferring offices due to the merger) but once that was done, it was only a week or two until it showed up in Interval (my first indication that it was transferred).

    This one is a Hacienda Del Mar unit. Does anyone have experience on whether dealing with Puerto Rico will take longer as well? It is RTU there from what I understand if that makes a difference.
     
    Last edited: May 10, 2019
  6. Sapper

    Sapper Tug Review Crew: Rookie TUG Member

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    It sounds like Vacation Properties for Less is moving a lot of Hyatt properties. I too did a Vacation Properties for Less, Highlands Inn. They submitted my ROFR paperwork to Hyatt at the beginning of December, it was passed on the 3rd of Janurary... And that is with the Christmas and New Years holiday in there. I had a better experience with them than SHG. They were not crazy fast, but did get the job done and were responsive to my emails.

    Conejo, I have heard that Puerto Rico can be slower because they have to get a lawyer down there involved in the transfer. Not to mention you are dealing with the Puerto Rican government to process paperwork with out a bribe... I mean expediting fee ;)
     
    Sugarcubesea and ConejoRed like this.
  7. Pathways

    Pathways TUG Member

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    So true- If the transfer needs to take place there, then all bets are off!

    (However, the ROFR should not take any longer)
     
    ConejoRed and Sapper like this.
  8. jjking42

    jjking42 TUG Member

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    I cant seem to get deals anywhere near what you guys got. Best deals I can up with is Diamond in the 5000 to 6000 range and Gold for 2500. Not finding anything good for platinum weeks except EOY. I don't need 2200 points. I can do one bedrooms, studios, less than week stays, and can travel in off season. But I worry about resale on anything smaller than gold. Diamond packages cost twice as much as gold but only 22% more points. Nevertheless I hear they are much more desirable.

    Do you think its worth paying extra for Pinion Point. Should I pay more for the lower MF or go to WOR or Beach House and pay more to get a larger point package. Not sure what is more important points package size or low MF. As far as travel is concerned I know we will like Sedona and not sure about Key West. We don't drink or party but like a nice view of the ocean or mountains and are kind of foodies. Wild Oak Ranch is 4 hours away but we would rather escape the Texas heat than vacation in it. No grand kids yet probably 3-5 year before that happens. Just a couple of empty nesters that want to enjoy nature.
     
    TravelTime and Sugarcubesea like this.
  9. dsmrp

    dsmrp TUG Member

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    I'm new to HRC, but conventional wisdom posted in this forum awhile ago was to buy 1880 and up pt units; because available units on internal exchanging to other HRC resorts could likely cost more than say the 1300+ points you'd get with a 1 bdrm unit. And you can't bank/extend your yearly HRC points to combine in the following year. You can deposit them into EEE for Interval II exchanging, which extends points life in II for I think 1.5-2 years. But then you'd have to pay II exchange fees.

    IMO, buy where & when you want to go most years, because that is your deeded right if say Marriott changes the HRC internal exchange rules several years down the road.
    Pinon Point 2 bdrm units are lockoffs, so you could reserve the larger 1 bedroom at your deeded week, then potentially use the points from the studio to stay perhaps the week after or before, or a completely different time of year.

    Although Marriott/Vistana is waiving ROFR left and right, I wonder if they are still buying back some diamond weeks. I think Conojo had a diamond week at Highlands Inn Rofr'ed last fall.
     
  10. Tucsonadventurer

    Tucsonadventurer TUG Review Crew: Veteran TUG Member

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    We
    bought 2 at Pinon Pointe team and one at Beach House. We own an 1880 and 2000 week at Pinon Pointe and 2200 at Beach House
    We always exchange but bought at places we would like to stay if we were to use our week. I like the lower fees at Pinon Pointe and prices are very reasonable right now. The down side to Key West for us is the long drive and heavy traffic from the airport though some have referred to a ferry. Airfare into Key West itself seems high to us. Optimal pricing wise seems to be 2000 with a good Maintenance fee ratio. Good luck. Let us know what you decide
     
  11. Fredflintstone

    Fredflintstone TUG Member

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    I am curious. What’s really the difference between Platinum, Diamond, Gold etc? I do know the difference between a red versus blue week. Is it kind of the same thing?


    Sent from my iPad using Tapatalk
     
  12. heathpack

    heathpack Tug Review Crew: Rookie TUG Member

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    Sheraton Broadway Plantation
    In the Hyatt system, the more points the better. Because you cannot bank or borrow points in any kind of useful way, you’re limited to whatever your points allotment is for the year. So people that have lower numbers of points are limited to competing with every one in the club for the lower point value weeks. Sometimes that works out ok, those tend to be the less desirable weeks anyway. Silver season Pinon Pointe seems to be abundantly available, as are 4 day midweek stays at Highlands Inn. Sept in Tahoe is nice, doable from a trading perspective, but all of the units are 2BR so you need at least 1400 points for any kind of decent trade into High Sierra.

    But the most valuable weeks are Diamond weeks because most people would prefer one week and one maintenance fee that can get them into any week (in theory) at any resort. You can get around this by owning two lower point value weeks with a sum total of 2200 or greater points. But then you have two purchase prices, transfer fees, and MF. So you have to crunch the numbers but when you consider buying two bronze weeks for say $500 each, that will cost you probably $3000 all in with the closing & transfer, plus at Pinon Pointe $2200/yr in MF. Over 10 years, say, you get 26,000 points for a cost of approx $25000. Vs paying $7000ish all in for a Diamond week and only having $1100 in annual MF. Over that same 10 years, you spend $18,000 for 22,000 points. Additionally, with choosing the Diamond week, in 10 years when you want to sell, it’s probably worth something so easier/quicker to sell and whatever you sell for drives that cost of ownership down further. When people run these numbers, they see the value of higher point weeks and that’s why the cost is higher.

    So if you’re worried about resale value, you want to buy the highest value week you can. But I think with the exception of the Puerto Rico property, you can always give a Hyatt away, so it’s a valid strategy to start with a low point week if that works for you. You won’t have access to everything in the club but maybe you accept that to get in at a lower price point.

    As far as bargains go, I think this is the worst time of the year for that. Maintenance fees are due in Jan, so right now folks are paid up and it’s not costing them anything to sit tight on a higher asking price. Come late Fall, sellers are looking at continued ownership costing them another years MF, so they are more inclined to price their units to move.
     
    jjking42 and Tucsonadventurer like this.
  13. AJCts411

    AJCts411 TUG Member

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    FYI - closing costs at HRC.
    Hyatt transfer fee - $650.00
    State Tax - Florida was $45.50
    Title company - $300.00
    County Deed recording fee - Monroe was $18.50
    Total paid - $1014.00
     
  14. TravelTime

    TravelTime TUG Member

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    $4K seems cheap for a platinum week. What unit and week was it?
     
  15. TravelTime

    TravelTime TUG Member

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    Is $7000 the going rate for a Diamond week at Windward Point?
     
  16. Sugarcubesea

    Sugarcubesea TUG Member

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    I felt the same way that I could never find a Hyatt for the price I wanted. A friend I meet TS'ing told me that for Hyatt the best time to buy at a lower price is in the fall / winter just before the MF's come due for the next year..I just kept waiting and watching and I finally found a deal and made the offer and got the 2,200 points that I wanted and the price I wanted...I only wanted a Diamond because of resale down the road...If you keep looking and do google searches for Hyatt, I just know something will come up... Best of Luck and I hope you score a deal real soon
     
    Last edited: Jun 20, 2019
  17. Sugarcubesea

    Sugarcubesea TUG Member

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    I purchased a Diamond --- 2,200 points --- week 15 --- Beach House, Key West
     
    Last edited: Jun 20, 2019
    TravelTime likes this.
  18. jhac007

    jhac007 TUG Member

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    I bought my unit two years ago and everything I have seen (then and since) is at least in that price range. Be advised that I am only looking for Jan/Feb weeks so that price in that time frame is from there up. I purchased mine to use and the points are the alternative but if your goal is to rent you may find a good deal in the diamond season beyond Jan/Feb. Week #4 in a better view unit than I have is my next goal at Windward.
     
  19. TravelTime

    TravelTime TUG Member

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    That an incredible price!
     
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  20. TravelTime

    TravelTime TUG Member

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    What view did you get? What would you expect to pay for the various view units?
     
  21. Sugarcubesea

    Sugarcubesea TUG Member

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    I'm so incredibly happy as I got the resort I wanted for the price I wanted... I hope you get what your looking for at Windward Pointe...another beautiful Hyatt resort that I have stayed at...
     
  22. jhac007

    jhac007 TUG Member

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    I didn't get the best view but I am good with it (I can see the ocean). My unit is 5332 which was the best view with the best price at that time for an early diamond season(which I needed/wanted). If I remember correctly it was advertised for $7995 and my offer of $7000 was accepted. What I didn't know until the closing process was there were 2200 points in the account which I acquired and effectively lowered my purchase price below 6K. I was already booked up for the year so I rented the unit. As for pricing, I first look for a third floor, then look for the best price on a third floor factoring in the view. For me I am only interested in Key West in the dead of winter (as far south as you can go in the continental US). The later diamond weeks probably can be had at a better deal. Therefore using mine as a bench mark, during Jan/Feb. I would expect 7-8K. Now if a princess unit is found in that time frame that's another issue. Personally I would be willing to pay more but am not sure how far I would go! Again if one is just interested in the 2200 points then the later diamond weeks should benefit the buyer and probably can be negotiated down.
     
  23. heathpack

    heathpack Tug Review Crew: Rookie TUG Member

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    Not necessarily, it was just an example
     
  24. brdweb

    brdweb TUG Member

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    Just an update on my purchase at HBH. Won ebay auction on March 6th and transfer just completed today (June 20th). Not exactly a quick transfer but happy it's done. The funny thing is also today a reservation was made at another property (Coconut Plantation) for August as well as 600 points to EEE. I'm not exactly upset as I only have a few days until the points would enter LCUP and 2019 points were never part of the deal. However, now I have to pay a cancellation fee to move the rest of my points to EEE.

    One question that I have is this: Is the II account automatically created as part of the transfer or do I have to take some kind of action for that?
     
  25. TravelTime

    TravelTime TUG Member

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    What do you think of third floor in building 6 or building 7 vs. first floor in building 1? I am debating some possibilities and since I am not there in Kew West, I cant decide where the road noise would bother too much or if being on a lower floor would be nice for convenience of getting out. I do have a service dog who I travel with so wondering if first floor would be more convenient. Have you been to Windward Point and do you have an idea of how the views compare as well how accessible it is to get downstairs?
     

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