hilton rofr (march 2009 thread)

[eugeneleemd]

still waiting for my kalia eoy (purchased dec 4th!!!) rofr to pass. does anyone know exactly how long hgvc has to exercise that right? is it 30 days??

 

[Talent312]

30-days sounds right. In my case (Seaworld), it was 30 days, and it only took two weeks. But it depends on the transfer terms that were in effect when your seller took title.

HGVC has a "waiver request" form they want you to use in which you give them your proposed closing date at least 30 days out, and attach a copy of your contract. I would call the closing agent to see it they've observed this procedure.

 

[eugeneleemd]

so just got off the phone with the hgvc. hgvc has 15 days rofr, and then 30 additional days to close the sale. interestingly they have no record that my kalia purchase has been submitted yet nor has the deed been submitted to county for recording. thetimesharecompany.com is killing me

 

[SusieQ927]

could someone advise what to expect on HGVC Seaworld, meaning what resale price could I expect to pay, versus what resale price would Hilton buy instead

any ideas what a good rule of them would be these days as I know I'll be wanting to buy more points

thanks

 

[DEROS]

It could be broker

It is incumbent on the broker to request a ROFR. It looks like nothing is happening. When I purchased my timeshare it took about 20-30 days for the letter to come in. It took a total of 3 months from offer to close.

Deros

 

[Bill4728]

could someone advise what to expect on HGVC Seaworld, meaning what resale price could I expect to pay, versus what resale price would Hilton buy instead

any ideas what a good rule of them would be these days as I know I'll be wanting to buy more points

thanks

There was a report just a few days ago that a 7000 pt Seaworld passed ROFR at $11,500

 

[prosperitylove79]

could someone advise what to expect on HGVC Seaworld, meaning what resale price could I expect to pay, versus what resale price would Hilton buy instead

any ideas what a good rule of them would be these days as I know I'll be wanting to buy more points

thanks

I just purchased a 5000 point Seaworld for $5400 and a 7000 point Las Vegas Hilton for $11,300...Seth Nock was very helpful. I am surprised by the amount of time it is taking for some of you. Seaworld took 10 days and Las Vegas took 15 days...maybe it is different for each timeshare?

Also - is it possible to buy extra points? I have not seen anything regarding this...

 

[Talent312]

... - is it possible to buy extra points? I have not seen anything regarding this...

The only way to get additional points is to buy a unit; however, if you run out of points in any year and want to book a longer or another stay: (1) you can borrow points from the following year; (2) make an "open season" reservation for a stay within 30 days; or (3) book a "Hilton-Hotel" stay at a HGVC resort using HHonors points or <cough> money.

 

[Seth Nock]

Right of First Refusal is 30 days at most of the resorts, 15 days at Las Vegas Strip property. For Platinum 7000 points at Sea World and Las Vegas Hilton, about 2/3 of my sales in the low 11 k level has passed right of first refusal, about 1/3 has been bought back. Tuscany and Las Vegas Strip is being exercised at significantly higher amounts. If you need additional points, typically you can rent them or buy another unit or borrow. Some of my past buyers will call me and I have arranged for rentals (I am sure other brokers may do the same for their buyers).

 

[alwysonvac]

Requesting clarification

If you need additional points, typically you can rent them or buy another unit or borrow. Some of my past buyers will call me and I have arranged for rentals (I am sure other brokers may do the same for their buyers).

Can you (as an approved broker) actually transfer rented points into an owner's account or are you simply renting a HGVC reservation?

Thanks

 

[Seth Nock]

Actually, as of Jan 1, there are no approved brokers anymore (I know other brokers still advertise it) but there are no approved resale brokers anymore. Typically, if one of my buyers needs additional points, I would make the reservation and rent it.

 

[PigsDad]

Actually, as of Jan 1, there are no approved brokers anymore

Very interesting! If you don't mind me asking, what affect will that new policy have on existing brokers? Are some of your activities curtailed?

Kurt

 

[Seth Nock]

Very interesting! If you don't mind me asking, what affect will that new policy have on existing brokers? Are some of your activities curtailed?

Kurt

It should not really change things. Authorized HGVC Brokers started a Few year ago. Judi Kozlowski was one of the first (about a year before I was). As an Authorized Broker we not only had access to our listings, but to Hilton's as well. Judi had(s) many of her own listings as well as Hilton's. I tended to use Cobroker listings, my listings and once I became a Hilton Broker, Hilton's listings as well.

I always thought it was more important to use licensed broker and a licensed and bonded escrow company who will take care of their clients and customers, should any issues arise (not necessarily an authorized broker). We still have access to Hilton's inventory (although, with the current US economic state, I am using mostly cobroker and preforeclosure inventory, as it can usually be sold for less than Hilton's listings). So, I don't think it makes much of a difference that the "authorized broker status" has been removed.

 

[angelc]

Right of First Refusal is 30 days at most of the resorts, 15 days at Las Vegas Strip property. For Platinum 7000 points at Sea World and Las Vegas Hilton, about 2/3 of my sales in the low 11 k level has passed right of first refusal, about 1/3 has been bought back. Tuscany and Las Vegas Strip is being exercised at significantly higher amounts. If you need additional points, typically you can rent them or buy another unit or borrow. Some of my past buyers will call me and I have arranged for rentals (I am sure other brokers may do the same for their buyers).

Seth, We are looking for the best sale price at the Hilton Flamingo, we already own 3,400 points in South Beach, looking for more points.

Thanks

Angel

 

[gshipley]

Seth, We are looking for the best sale price at the Hilton Flamingo, we already own 3,400 points in South Beach, looking for more points.

Thanks

Angel

I am also interested to know what the going price is for 7000 flamingo points. I currently have mine listed at 10,500 with Judy.

 

[Seth Nock]

I am also interested to know what the going price is for 7000 flamingo points. I currently have mine listed at 10,500 with Judy.

Net or gross? If it is gross, she should have buyers standing on line for it.

 

[gshipley]

Net or gross? If it is gross, she should have buyers standing on line for it.

Gross. I have just been wondering if the economy is so bad that people are not willing to pay 10,500 for 7000 plat points with no ROFR. The one thing that may be slowing it down is that I have 400 points remaining for 2009.

 

[Seth Nock]

I know both Judi and I have buyers for that unit.

 

[natarajanv]

you could have sold it yourself by placing an ad here at the timeshare marketplace for that price. There is one unit similar to yours on ebay currently bidding at $9020.00 which is going to end in 9 hours.

 

[gshipley]

you could have sold it yourself by placing an ad here at the timeshare marketplace for that price. There is one unit similar to yours on ebay currently bidding at $9020.00 which is going to end in 9 hours.

After reading my previous posts I think I may have unintentionally given an unclear description of my situation.

 

[gshipley]

Found a buyer

Just wanted to update everyone...... I received an offer on my timeshare this afternoon and it appears the sale will go smoothly.

 

[pacman]

Gshipley

Do you mind telling us what kind of offer you received? Just wondering where the market at now. If you'd rather not say, no problem, I understand.

pacman

 

[capjak]

you could have sold it yourself by placing an ad here at the timeshare marketplace for that price. There is one unit similar to yours on ebay currently bidding at $9020.00 which is going to end in 9 hours.

Ebay sold for 9120 so I guess that is what it is worth in today's market maybe a little more or less.

 

[gshipley]

Gshipley

Do you mind telling us what kind of offer you received? Just wondering where the market at now. If you'd rather not say, no problem, I understand.

pacman

I don't mind saying at all.

 

[natarajanv]

That is a great price for a seller. I guess, we cant use ebay as a pricing point.