Hgvc rofr

[Judi Kozlowski]

BCSRentals

is she endorsing bcsrentals? I hope not

definitly not.

 

[Judi Kozlowski]

BCS Rentals

I assume she meant unlike other sellers (bcsrentals/premierevacationmarketing), there's no need to be leery of her (Judi).

That, or she didn't read the whole post and mistakenly thought the post alluded to her.

I thought the post was talking about me. We switched our ebay seller name to just put our Hilton's under it so our numer isn't as high as some but we don't depend on the comments made by ebay buyers for our business. Thank you very much for the kind words.

 

[GregT]

BTW The Assistant was fired

Judi,

I hope it wasn't Jay (Koz), he was very helpful when I bought the Trust Points and that would be tough to explain to the family.

I hope you are well and I look forward to working with you again in the future!

Best,

Greg

 

[presley]

Haha, Greg! That would make for some awkward Thanksgiving dinners.

 

[Seth Nock]

I misunderstood the circumstances then. Still.. Hilton agreeing to take a unit outside of rofr seems odd. Are you stating that hilton will buy back units from owners direct (which is what this would be).

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It actually depends on the property. The Right of First Refusal for most of the properties (Sea World included) requires a contract. The Right of First Refusal for Las Vegas Strip requires only to let Hilton know when you are placing it on the market and the asking price. That being said, once it is in contract, the closing company again requests right of first refusal, as the escrow companies require it to get "clean title".

Legally all offers must be presented. The brokers familiar with the the properties will be able to guide you to a price they think will pass right of first refusal, however, it is not an exact science. Sometimes there are reasons, unknown to us, that a developer exercises right of first refusal. Since both Remax, as well as my company have been specializing in Hilton for over 16 years, we both have a very good idea of what the numbers are. However, legally, if we are listing a sellers' unit, we must present ALL offers, unless a seller specifically tells us not to. I am sure Judi did what is ethically correct. I assume by Judi contacting Hilton, that seller netted closer to $5,000, rather than what they would have net selling it for $2,300 - commission to Remax.

 

[joeyb1180]

Thank you for your reply. Hilton exercised on two of our units today.

They are definitely being aggressive.

Which locations?


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[taterhed]

Personally, I don't the issue was whether it will pass HGVC ROFR or not. Today it might....tomorrow maybe not.

The real issue was the "She said she called Hilton to let them know about the sale and they told her then that they will take it. " This is clearly just an allegation/hearsay on the part of the OP, but disturbing NTL.

It's my understanding that ROFR can only be executed via submitted contract/ROFR submission. Perhaps a truly knowledgeable Tugger can reply, but it seems that a 'verbal' discussion concerning ROFR with HGVC would be either self-serving or potentially present a fiduciary conflict with the seller, buyer or both. Judi K is an agent with lots of experience in these matters. I'm pretty sure she would be aware of the potential conflicts involving these matters. Judi describes the process quite clearly on this page: http://www.redweek.com/resources/sale_process/selling-hilton-hgvc-timeshare

I would really like to know the 'truth' on this one. The whole ROFR subject generates a lot of suspicion and scheming as it is.

Nothing wrong with trying to help a seller get full market value for a sale; also nothing wrong with helping a buyer complete a sale without wasting time on unrealistic low-ball offers. But, giving one guy at HGVC the power to influence contract submission prices (for maybe 20 phone calls a day?)with a 'yea or nea' phone call is kinda scary. Perhaps the OP just misunderstood the agent....or maybe not?

like to hear the end of this one with an explanation on the OP's statement.

Prices have not dropped that low. This was a Seller that panicked, called my
office and reduced the unit from $7,000 to $2,300. I was not told and the assistant reduced the price on the advertising without my knowledge. We received an offer on the unit and the buyer was told that it would be very difficult to get that offer waived by Hilton. To save the buyer from waiting 21 to 30 days for an answer from Hilton I called and asked if the unit would be picked up and Hilton said they would handle it with the Seller. Yes we could have waited for the actual estoppel with the notification to exercise but I made
the decision to call Hilton. End of story. BTW The Assistant was fired

It actually depends on the property. The Right of First Refusal for most of the properties (Sea World included) requires a contract. The Right of First Refusal for Las Vegas Strip requires only to let Hilton know when you are placing it on the market and the asking price. That being said, once it is in contract, the closing company again requests right of first refusal, as the escrow companies require it to get "clean title".

Legally all offers must be presented. The brokers familiar with the the properties will be able to guide you to a price they think will pass right of first refusal, however, it is not an exact science. Sometimes there are reasons, unknown to us, that a developer exercises right of first refusal. Since both Remax, as well as my company have been specializing in Hilton for over 16 years, we both have a very good idea of what the numbers are. However, legally, if we are listing a sellers' unit, we must present ALL offers, unless a seller specifically tells us not to. I am sure Judi did what is ethically correct. I assume by Judi contacting Hilton, that seller netted closer to $5,000, rather than what they would have net selling it for $2,300 - commission to Remax.

Judi K: Thanks for taking the time to clarify the situation. Due to your excellent reputation and years as a Realtor, I suspected there was a simple explanation for what appeared to be an irregularity. I am very sorry to hear that you fired your assistant; too bad the owner instigated this problematic and potentially costly issue. The fact that you too time to address the issue here speaks volumes about your professionalism.

Seth Noc: Thanks for providing the extra details to confirm that HGVC ROFR policy has not changed, albeit with some subtleties that are not obvious to laymen or those without years of (re)sales experience.

As always, I'm a strong advocate of using a TUG-recommended and experienced broker/reseller when buying timeshares on the resale market--especially those with significant dollar-value or higher MF's (like Marriott or HGVC). I used Samuel R. @ Seth Nock's brokerage and got every dime of my money's worth by the time we were done. The devil is in the details....and a good agent/company can help you avoid costly and time-consuming mistakes. IMHO

Ok, I'm off my soapbox.

So..... :deadhorse:

 

[Judi Kozlowski]

Judi,

I hope it wasn't Jay (Koz), he was very helpful when I bought the Trust Points and that would be tough to explain to the family.

I hope you are well and I look forward to working with you again in the future!

Best,

Greg

Hi Greg,
Definitely not Jay. We will celebrate 31 years very soon. He's not getting fired. Thank you for the kind words

 

[Judi Kozlowski]

Thanksgiving

Haha, Greg! That would make for some awkward Thanksgiving dinners.

That is for sure.

 

[Judi Kozlowski]

HGVC

It actually depends on the property. The Right of First Refusal for most of the properties (Sea World included) requires a contract. The Right of First Refusal for Las Vegas Strip requires only to let Hilton know when you are placing it on the market and the asking price. That being said, once it is in contract, the closing company again requests right of first refusal, as the escrow companies require it to get "clean title".

Legally all offers must be presented. The brokers familiar with the the properties will be able to guide you to a price they think will pass right of first refusal, however, it is not an exact science. Sometimes there are reasons, unknown to us, that a developer exercises right of first refusal. Since both Remax, as well as my company have been specializing in Hilton for over 16 years, we both have a very good idea of what the numbers are. However, legally, if we are listing a sellers' unit, we must present ALL offers, unless a seller specifically tells us not to. I am sure Judi did what is ethically correct. I assume by Judi contacting Hilton, that seller netted closer to $5,000, rather than what they would have net selling it for $2,300 - commission to Remax.

You are exactly right Seth. Thank you.

 

[Judi Kozlowski]

ROFR

Which locations?


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Depends on what day of week it is. They don't tell us until we send a contract to them. Since Hilton is my specialty I do keep closer tabs on what they are doing. So if you have a resort in mind I would be glad to reply.

 

[Judi Kozlowski]

Judi K: Thanks for taking the time to clarify the situation. Due to your excellent reputation and years as a Realtor, I suspected there was a simple explanation for what appeared to be an irregularity. I am very sorry to hear that you fired your assistant; too bad the owner instigated this problematic and potentially costly issue. The fact that you too time to address the issue here speaks volumes about your professionalism.

Seth Noc: Thanks for providing the extra details to confirm that HGVC ROFR policy has not changed, albeit with some subtleties that are not obvious to laymen or those without years of (re)sales experience.

As always, I'm a strong advocate of using a TUG-recommended and experienced broker/reseller when buying timeshares on the resale market--especially those with significant dollar-value or higher MF's (like Marriott or HGVC). I used Samuel R. @ Seth Nock's brokerage and got every dime of my money's worth by the time we were done. The devil is in the details....and a good agent/company can help you avoid costly and time-consuming mistakes. IMHO

Ok, I'm off my soapbox.

So..... :deadhorse:

Rob,

Thank you for the kind words. This is a tough profession to be a professional in. We do appreciate clients who understand the value we bring to the business.

 

[dsmrp]

thank you Judi and Seth for the explanations. It makes pragmatic sense for an out of the ordinary situation.

 

[joeyb1180]

Depends on what day of week it is. They don't tell us until we send a contract to them. Since Hilton is my specialty I do keep closer tabs on what they are doing. So if you have a resort in mind I would be glad to reply.

No that's not what I meant. You said that Hilton exercised on 2 of yours today. I was inquiring what properties they were for that specific day.


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[Seth Nock]

No that's not what I meant. You said that Hilton exercised on 2 of yours today. I was inquiring what properties they were for that specific day.


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In the last 2 weeks, I had 7,000 points at Sea World, Tuscany, Las Vegas Strip and 2 at Las Vegas on Paradise bought at prices between $6,000 and $7,000.

 

[wgallen8]

have any purchases not been picked up by Hilton?

 

[Baggi]

There is a 7000 point ananual @ Vegas paradise for $1000 here on the tug marketplace. There no way that could pass ROFR right?

Where is the TUG marketplace?

Are you talking about Bargain Deals?

 

[Baggi]

Where is the TUG marketplace?

Are you talking about Bargain Deals?

Ok, I found it.

I contacted the person you mentioned to see if it was still for sale. Exactly what my wife and I are looking for.

But, if you want it, I'll back off and let you have it. We aren't in any hurry.

 

[onenotesamba]

I'm wondering about current ROFR on 4800 plat properties. Have they resumed exercising on 7K packages only, or are there 4800 point 1 BR units that are not passing, as well?

 

[CTighe]

Ok, I found it.

I contacted the person you mentioned to see if it was still for sale. Exactly what my wife and I are looking for.

But, if you want it, I'll back off and let you have it. We aren't in any hurry.

I'm already in contract with it, just don't think I have a chance of it passing ROFR. Maybe by some miracle it will slip through the cracks. Fingers crossed!

 

[natarajanv]

I'm already in contract with it, just don't think I have a chance of it passing ROFR. Maybe by some miracle it will slip through the cracks. Fingers crossed!

Why would they say it is still available , when it is under a contract?

 

[CTighe]

Why would they say it is still available , when it is under a contract?

No one said it was still available.

 

[dja1980]

As an owner, I about fell over when I started reading this thread... 7,000 for $2,300, and post #2 saying it has a good chance of passing. I knew values have dropped, but I didn't think that low. I'm feeling a little better now after reading the entire thread. We purchased thru Judi in 2011... paid $7,500 for 4,800 Platinum, and my parents paid $12,000 for 7,000 Platinum... both Tuscany Village. Judi was great to work with... wouldn't hesitate for a moment referring friends or family to her.

 

[Seth Nock]

have any purchases not been picked up by Hilton?

Lots have passed.
$8500 for 8400 points, $3,250 for 5,000 points, $4,000 for 4800 points.

 

[joeyb1180]

Lots have passed.

$8500 for 8400 points, $3,250 for 5,000 points, $4,000 for 4800 points.

I just heard back from Discount Timeshares and my 7K Boulevard ROFR was exercised. That was going to be my first owned TS. Now I need to start from scratch. Seth we've emailed a few months ago. I may reach out.


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