What does ROFR stand for?
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djs
TUG Member
Right Of First Refusal
This means that the resort can step in and purchase a unit at resale if it feels that the price it's being sold at is "too low". The resorts claim that this protects the greatest number of owners in that it keeps re-sale prices from getting too low. You could have a year-long debate here and still wouldn't get everyone on the same page.
This means that the resort can step in and purchase a unit at resale if it feels that the price it's being sold at is "too low". The resorts claim that this protects the greatest number of owners in that it keeps re-sale prices from getting too low. You could have a year-long debate here and still wouldn't get everyone on the same page.
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DeniseM
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On the TUG Advice page (linked in red bar) there is a handy list of Timesharing Acronyms and abbreviations and a lot of other good stuff.
Dave M
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Thewre is a timeshare glossary in the TUG Advice section which includes this and other timeshare terms. A more comprehensive timeshare glossary is located here.
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[triennial - points]
It's Not 1 Debate After Another -- It's The Same Old Debate Over & Over.
It took some of us quite a while to catch on that ROFR = ROFL -- while others are still struggling with it.
However that may be, there are folks plenty smarter than I who go for it hook, line, & sinker. That is, with prevention of "too low" resale prices as the stated aim of ROFR, it's easy to assume that any time a timeshare owner wants to sell the resale price will have to be reasonably high or the timeshare company will step in & up the ante to what's considered a reasonably high price, preventing a resale that would be considered "too low."
That's not ROFR. That's more like resale price guarantee or buy-back guarantee. Sorry to say, those are nonexistent & are not what ROFR is about.
Instead, after I cut my price so low that I actually find a buyer, the timeshare company steps in at closing & the timeshare company buys my timeshare at that very same low price that the seller & buyer agreed on. I get not 1 cent more than my buyer had agreed to pay. The resale value of my timeshare is not propped up. All that happens is that my buyer gets aced out of a low-priced purchase, but any way you shake it it's still a low-priced purchase. Get it?
You got that right.
It took some of us quite a while to catch on that ROFR = ROFL -- while others are still struggling with it.
The gimmick -- the fallacy -- is that ROFR does nothing of the kind. Timeshare resale prices can -- & I gather sometimes actually do -- sink ever so low regardless of ROFR. All ROFR does is make it so nobody but the timeshare company can buy at a resale price that is "too low."
However that may be, there are folks plenty smarter than I who go for it hook, line, & sinker. That is, with prevention of "too low" resale prices as the stated aim of ROFR, it's easy to assume that any time a timeshare owner wants to sell the resale price will have to be reasonably high or the timeshare company will step in & up the ante to what's considered a reasonably high price, preventing a resale that would be considered "too low."
That's not ROFR. That's more like resale price guarantee or buy-back guarantee. Sorry to say, those are nonexistent & are not what ROFR is about.
Instead, after I cut my price so low that I actually find a buyer, the timeshare company steps in at closing & the timeshare company buys my timeshare at that very same low price that the seller & buyer agreed on. I get not 1 cent more than my buyer had agreed to pay. The resale value of my timeshare is not propped up. All that happens is that my buyer gets aced out of a low-priced purchase, but any way you shake it it's still a low-priced purchase. Get it?
-- Alan Cole, McLean (Fairfax County), Virginia, USA.
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