Has anyone ever not sold their timeshare to Marriott when they exercised ROFR?

[ahdah]

Just checking, Marriott exercised their ROFR on a timeshare I owned last year. (Marriott's Grande Chateau, Platinum) I then sold it to Marriott, for a little over $2000. It has been a headache. My husband died after the sell, I owned it. They notified me about 2 months ago that I need a dearth certificate. Now I am trying to get a death certificate and I have paid $82.00. (In moving I can't find his death certificate.).
To make a long story short, could I have declined not to sell it to them, and then later have sold to someone else? The man who made an offer wanted to try at $2000 but was willing to pay more.

 

[samara64]

Sorry for your loss.

Did you sign a P&S agreement already. If you did, it is too late.

I did by resubmitting the ROFR at a higher price as the buyer was willing to pay more before signing any Marriott paperwork.

 

[DanCali]

I had this happen to me from the opposite end. It was a broker intermediated transaction. I made an offer to a seller that was accepted and then Marriott exercised ROFR. We then canceled the transaction, notified Marriott, and later did a new deal at a higher price. Marriott did not exercise the ROFR the second time. The broker handled all the communication with Marriott though so I am not sure how it all happened.

 

[ahdah]

I had this happen to me from the opposite end. It was a broker intermediated transaction. I made an offer to a seller that was accepted and then Marriott exercised ROFR. We then canceled the transaction, notified Marriott, and later did a new deal at a higher price. Marriott did not exercise the ROFR the second time. The broker handled all the communication with Marriott though so I am not sure how it all happened.

Thanks for the info, that is interesting to know. A day late and a dollar short, sorry I didn't cancel the sell with Marriott. I was not sure you could do this. Now I know. Wonder if anyone else has done this,

 

[ahdah]

I had this happen to me from the opposite end. It was a broker intermediated transaction. I made an offer to a seller that was accepted and then Marriott exercised ROFR. We then canceled the transaction, notified Marriott, and later did a new deal at a higher price. Marriott did not exercise the ROFR the second time. The broker handled all the communication with Marriott though so I am not sure how it all happened.

One more question, did you wait a couple of months before making another offer?

 

[DanCali]

One more question, did you wait a couple of months before making another offer?

No - more like a couple of days, if that.

 

[SueDonJ]

No - more like a couple of days, if that.

I think this is another instance where Marriott may not act as severely as the governing docs allow them, but still it's worth knowing exactly what they can do. Each resort has its own set of docs but the two with which I'm familiar specify that if MVW exercises ROFR on a submitted contract and the owner stops the sale, then another contract with same seller/buyer is submitted with a higher price within a specified period of time, MVW has the right to enforce the terms of the first contract. Just something to know ...

 

[DanCali]

I think this is another instance where Marriott may not act as severely as the governing docs allow them, but still it's worth knowing exactly what they can do. Each resort has its own set of docs but the two with which I'm familiar specify that if MVW exercises ROFR on a submitted contract and the owner stops the sale, then another contract with same seller/buyer is submitted with a higher price within a specified period of time, MVW has the right to enforce the terms of the first contract. Just something to know ...

I guess that makes sense but the price wasn't that low to begin with anyway, so they may have just decided to not exercise even that first price.

 

[davidvel]

I think this is another instance where Marriott may not act as severely as the governing docs allow them, but still it's worth knowing exactly what they can do. Each resort has its own set of docs but the two with which I'm familiar specify that if MVW exercises ROFR on a submitted contract and the owner stops the sale, then another contract with same seller/buyer is submitted with a higher price within a specified period of time, MVW has the right to enforce the terms of the first contract. Just something to know ...

This is true to some extent, as Shadow Ridge CCRs state they can create a binding contract on the original terms by exercising ROFR:

I'm not as generous to Marriott, though. I think it's more like they decide what they want to do, regardless of what the governing docs say, like with allowing multi week reservations at different resorts.

Also, I've heard where Marriott refused to abide by certain terms in the ROFR'd sale, like the use of a certain escrow or title, or other inclusions like usage year, etc. Again, they decide what they want to do, not what the CCRs require.

 

[SueDonJ]

This is true to some extent, as Shadow Ridge CCRs state they can create a binding contract on the original terms by exercising ROFR:
View attachment 26679

I'm not as generous to Marriott, though. I think it's more like they decide what they want to do, regardless of what the governing docs say, like with allowing multi week reservations at different resorts.

Also, I've heard where Marriott refused to abide by certain terms in the ROFR'd sale, like the use of a certain escrow or title, or other inclusions like usage year, etc. Again, they decide what they want to do, not what the CCRs require.

I didn't mean to be "generous" to Marriott here, just wanted to mention how their ROFR rights could block a higher-price ROFR resubmittal if that's how they want to play it (at least at my resorts for which the docs go further and say that if a higher-price resubmittal happens within a designated period, they can exercise ROFR at the original submittal's sale price.) Regulars here know that I'm not usually willing to risk the chance that they'll enforce any of their rights at any time, and posts like this are meant only to help others who might think the same way.

 

[ahdah]

"(at least at my resorts for which the docs go further and say that if a higher-price resubmittal happens within a designated period, they can exercise ROFR at the original submittal's sale price.)"

SueDonJ, so SC (Barony and SW) allow Marriott to exercise ROFR on the original price?

 

[davidvel]

I didn't mean to be "generous" to Marriott here, just wanted to mention how their ROFR rights could block a higher-price ROFR resubmittal if that's how they want to play it (at least at my resorts for which the docs go further and say that if a higher-price resubmittal happens within a designated period, they can exercise ROFR at the original submittal's sale price.) Regulars here know that I'm not usually willing to risk the chance that they'll enforce any of their rights at any time, and posts like this are meant only to help others who might think the same way.

I understand, and agree. Marriott has certainly allowed some things that it could have enforced more strictly as other developers had. But they also play a bit loose to make their programs work the way they want them to.

 

[SueDonJ]

"(at least at my resorts for which the docs go further and say that if a higher-price resubmittal happens within a designated period, they can exercise ROFR at the original submittal's sale price.)"

SueDonJ, so SC (Barony and SW) allow Marriott to exercise ROFR on the original price?

They do. I don't have the docs handy so I'm not sure how long the period is that you'd have to wait to resubmit a higher-price offer, but I also don't remember ever hearing that they followed this rule with any resales. Like I said, I wouldn't take the risk but many others have taken risks with Marriott that I wouldn't and gotten away with them.