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Is this a Record for ROFR?

toocherie

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Bid and won Marriott Shadow Ridge two-bedroom lock-off gold float season on ebay 12/29/08. Documents were received and because of an error in the documents were re-done and received 1/5/09. I overnighted purchase contract and cashier's check on Monday 1/5/09 and paid closing by paypal. Received info today--1/7/09 that Marriott has already waived ROFR!!!!!! Is that a record? I couldn't believe it. Or is it possible that the seller could have gotten a "pre-waiver" up to a certain amount ahead of time?

In any event--I'm happy!
 

DeniseM

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Marriott is not exercising ROFR these days...it probably just got rubber stamped.
 

dlpearson

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Getting notification of passing ROFR that quickly doesn't surprise me in today's market (they aren't buying back much of anything). What will surprise me is if Marriott updates their records to transfer you as the new owner in their system (after closing is complete by the county) in less than 2 months.......

Congrats on your purchase--nice property.

David

Bid and won Marriott Shadow Ridge two-bedroom lock-off gold float season on ebay 12/29/08. Documents were received and because of an error in the documents were re-done and received 1/5/09. I overnighted purchase contract and cashier's check on Monday 1/5/09 and paid closing by paypal. Received info today--1/7/09 that Marriott has already waived ROFR!!!!!! Is that a record? I couldn't believe it. Or is it possible that the seller could have gotten a "pre-waiver" up to a certain amount ahead of time?

In any event--I'm happy!
 

tango

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Same thing happened for me last November for our purchase at Ko Olina. ROFR was waived 2 days after the auction closed.
 

FlyerBobcat

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What will surprise me is if Marriott updates their records to transfer you as the new owner in their system (after closing is complete by the county) in less than 2 months.......
I spoke with MVCI Owner Modifications yesterday and they "told" me that they are running 6 to 8 weeks, but currently closer to 6 (for whatever that's worth :ignore: )

My ROFR also took 2 days...
 

vacationtime1

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If the ROFR exercise/waive department is only taking 2 days to render a decision and communicate it, then that department is overstaffed. It should take at least 6-8 weeks.
Although Marriott may like to take 6-8 weeks to waive ROFR, the documents creating ROFR generally give Marriott only 15 or 30 days to exercise it; if Marriott does not exercise ROFR within the stated time period, it is waived.

But don't worry. I understand that Marriott now takes 6-8 weeks to register new owners after the deed is recorded.
 
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