How long for Marriott ROFR??

[laxmom]

Not sure if I should post this in the buying forum or here but since it pertains specifically to Marriott.... well, here goes.

Just had an offer accepted for a Marriott property. Curious how long it has taken to get thru ROFR? Are we talking days or weeks these days?

Thanks in advance for your help.

 

[JimIg23]

Having gone thru ROFR about 7 times now in under one year, it usually takes one week. Aruba took a bit under 2 weeks.

 

[laxmom]

Thanks! The thread at the top of this forum lists quite a range for the time frame. I appreciate hearing from someone who has been thru it recently.

 

[TheTimeTraveler]

Marriot Time Frame For Rofr

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I went thru the ROFR process a few years ago via my escrow agent when I was buying a Marriott.

She told me at the time that Marriott only has so long to "sit on it", otherwise they just move it along. I am not sure how long that "sit on it" time is but I think it may be a max of 5 or 7 business days.

HINT: If you can find out that time frame then make submissions during the summer time, specifically late, late June.

Why? If Marriott is like any other company out there then a lot of their staff goes on vacation for the 4th of July week. As a result they may have to push it thru without really looking it over or delaying it.

If you're a buyer and you're buying on the cheap then this could work nicely for you!

If you're a seller then you really don't care as you know the buyer will buy it and if they don't then Marriott will scoop it. And as long as you unload it then it really doesn't matter to you!


.

 

[myip]

I am not sure what is going on. Last time, it takes 5 days. This time, it is taking a long time. I am still waiting. It is 3 weeks already.

 

[timeos2]

I am not sure what is going on. Last time, it takes 5 days. This time, it is taking a long time. I am still waiting. It is 3 weeks already.

Just another in a long line of reasons ROFR is not an owner friendly thing. Best to avoid resorts/systems that have it. No ROFR one less thing to screw up your timeshare life as buyer or seller.

 

[laxmom]

myip, according to the thread at the beginning of this forum, it appears that Marriott has a time frame to sit on it. If they don't respond in the number of days listed in the contract, then it passes ROFR. It lists some as 2 weeks and others as 30 days.

Read that sticky and make sure I understood and then I would start trying to find that clause and the time limit. Good luck. Sure hope ours doesn't take that long. Seller seems to think we will close by spring break.

 

[m61376]

Depending upon the property, Marriott has between 15 and 30 days to respond. My first one took 3 weeks to be nabbed and then my second passed in exactly a week.

Good luck!

 

[AwayWeGo]

R. O. F. R. Time Limit Needed.

The state timeshare commissioner in each timeshare-hotbed state (e.g., Florida, Virginia, Missouri, Nevada) should promulgate binding regulations to the effect that any timeshare company holding or claiming ROFR has just a limited time -- say 72 hours -- in which to paint or get off the ladder. Inaction within that time will be the same, legally, as waiving ROFR.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[johnmfaeth]

The ROFR is a contractual obligation which is agreed to by the original purchaser and codified in the deed. They have 30 days at most locations. Submit it electronically and 4 out of 5 will be determined in 5 business days.

Send it by snail mail and expect a longer wait. Omit necessary info and they legitimately need more time as they will ask for the info and wait for it.

No, more government involvement is not the answer in my opinion, it usually has unintended results. As they say, the cure is more painful than the disease.

I would prefer they focus on getting more recorders of deeds automated and things that would make life easier for folks such as .PDF submissions of executed deeds for recording. Add staff and modify procedures so that some locales do not have a two to three week backlog. Now that would help the transfer process for timeshares and all real estate.

 

[Quimby4]

If you are willing to share your info., please post whether you pass or fail ROFR and the price on this ROFR website.Thanks!!

http://dioxide45.tripod.com/cgi-bin/rofr.cgi

 

[laxmom]

Already plan on doing so. That is a great tool. I am not too confident that it will float. That is why I am counting the days! Just a little case of nerves.

 

[sthaks]

Marriot Phuket ROFR

Can someone please guide me in how to get an ROFR for Marriott in Phuket...where do we go?

ST

 

[timeos2]

Avoid ROFR - never buy if its in the mix

Your post is #13. Fitting as you are out of luck when there is any question about ROFR. There are no known answer just more questions. It is best to avoid any timeshare that practices the owner negative art of ROFR. It is a nightmare and thus best avoided.

Sorry.

 

[m61376]

Can someone please guide me in how to get an ROFR for Marriott in Phuket...where do we go?

ST

From the sticky on top of this Board:
Actions to Take
A seller should comply with the resort's ROFR policy to ensure the sale is valid. Either the seller or the closing company can request the waiver. A buyer should instruct the closing company not to close the sale until the required ROFR waiver is obtained from Marriott.

The risk in not obtaining the waiver is that Marriott might refuse to recognize the new owner, which it likely could do if the required waiver procedure isn't followed.

A simple call to Marriott Owner Services will get the seller started in the right direction for obtaining the ROFR waiver. If you utilize the example that follows, be sure to check with Owner Services to ensure that the e-mail address is still current. Here is a sample e-mail message (modified from a post on this forum by "ironweed"):

From: XXXXXXXXXXXXX
To: mvcirofr@vacationclub.com

Subject: Selling Grande Vista Unit 6XXX week 2X
Date: Fri, 14 Oct 2005 14:31:13
Marriott Vacation Club International,

I am selling my Grande Vista week 2X unit #6XXX. The pertinent information is listed below:

Seller: XXXXX
Buyer: ZZZZZZZZZ
Purchase Price: $7,000.00 + closing costs

I am attaching a copy of the purchase-sale agreement between the two parties.

Please reply to this email letting us know that we have the approval to proceed with this transaction. It is my understanding that your return email will be the written documentation that is required to proceed with our closing.

Proof of Tentative Sale
Marriott has recently been requesting proof of the proposed purchase-sale terms. The draft e-mail message above assumes that you will attach a copy of a sales agreement. Alternatively, you can forward a confirming e-mail between the buyer and seller or separately fax your ROFR request and a copy of the agreement to Marriott at 407-903-5995.

 

[laxmom]

5 days and counting.:zzz:

 

[Scott_Ru]

Just another in a long line of reasons ROFR is not an owner friendly thing. Best to avoid resorts/systems that have it. No ROFR one less thing to screw up your timeshare life as buyer or seller.

Not so sure I agree, John. The ROFR, while stullifying our attempts to "steal" Marriott weeks, does serve to keep the value of our weeks up. The aftermarket for most timeshares has no downside protection at all.

 

[timeos2]

Avoid the traps such as ROFR and you too can be a happy timeshare owner

Not so sure I agree, John. The ROFR, while stullifying our attempts to "steal" Marriott weeks, does serve to keep the value of our weeks up. The aftermarket for most timeshares has no downside protection at all.

If it was meant to prop up pricing for sellers I would be all for it. But it isn't. It is solely to get deals for the developer and to discourage resales (another of many roadblocks).

Now if any developer wants to actually offer price protection / support all they have to do is have a standing offer to buy back. No games, no delays. If you are willing to sell for that standing price you call / write and the deal is done. If you think your time is worth more you offer it privately and hope someone bites. If they do the deal is done - no delay or questions of ROFR - you already are above the buy back price by definition. That too I would support. In fact applaud any developer who did it. That is a true price floor and would halt the fire sales in their tracks (as well as the Post Card Companies and answers the long standing problem of what an owner does who "just wants out"). But that would be too much like an actual guarantee (but it should help sales as they can say absolutely what the least anyone will pay resale would be - hopefully not the 90% spread far too many resorts have now) so it doesn't happen. Of course it also would expose (by way of the guaranteed price structure) that the value of non-prime time at most seasonal resorts is virtually zero. THAT would really kill sales. Instead we get the FUD of ROFR, threats of withheld services for resale buyers, lack of bogus VIP, etc. None of it means anything but contrived roadblocks to resales yet some owners are willing to buy into the idea that it somehow "protects" them. Right. And the timeshare weasels care about you too. Same odds.

Standing rules from this posters viewpoint. No upfront fees for sales. Buy only resale, never buy from a developer. Never buy if ROFR is in the deal. Buy resorts that are owner controlled. By a week to use - buy a multi-resort system for trade or different resort use each year.

We happened to follow every one of those rules - quite by accident as we had no specific knowledge going in just a gut feeling of how things should work. The only place we screwed up on was Wastegate. We bought resale (good) but never anticipated that the resort wouldn't follow State laws and never turn control over to the owners. We REALLY never anticipated they would flaunt regulations and laws to claim rights they don't have (such as ROFR and not giving your own deeded week!) and that the sales pressure and construction would never end thus eliminating any need to own there and killing trade value. But one out of seven as a BIG MISTAKE isn't that bad. We nearly got sucked into a Marriott (ROFR and bogus points system) as the resorts were so nice (now we know they drop them when they age OR rape the owners for outrageous fees to renovate) and only managed to dump DVC (at a profit!) after learning that they were closer to Wastegate than Marriott in management style (control, control and more control). But overall timeshare has been good to us. Avoid the obvious pitfalls like ROFR and megalomaniac control freak owners / management and your chances of a happy ownership are very very good.

 

[AwayWeGo]

I Wonder How That Can Be True.

ROFR, while stullifying our attempts to "steal" Marriott weeks, does serve to keep the value of our weeks up.

I have heard smarter people than I express agreement with that idea, but I am still unable to understand why.

The best I can puzzle it out, ROFR = ROFL.

So it goes.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[johnmfaeth]

Marriott Summit Watch silver season - passed at $2K, 6 full business days to decide (got answer midway through the 7th day. Submitted the evening before the 1st day.