It’s ROFR Tuesday! 1.51/fail

[equitax]

The good news is somebody who wanted out won’t be paying maintenance fees in 2027.

The bad news is that I will need to wait until next Tuesday to see if the next one passes.

Failure has been recorded at ROFR.net

 

[RebelR]

ha, so are you just sorting redweek from cheapest to most expensive and going down the list?

 

[WorldT]

ha, so are you just sorting redweek from cheapest to most expensive and going down the list?

That is what I will do unless I was in a hurry. Why pay more?

 

[billymach4]

The good news is somebody who wanted out won’t be paying maintenance fees in 2027.

The bad news is that I will need to wait until next Tuesday to see if the next one passes.

Failure has been recorded at ROFR.net

Please fill me in here. I missed the memo? Are you intentionally low balling to get rock bottom price on a points purchase?

 

[dioxide45]

Please fill me in here. I missed the memo? Are you intentionally low balling to get rock bottom price on a points purchase?

I don't know how much low balling is happening. I see lots of listings in the $1-$2 range. This broker (atimesharebroker) has lots in that range.

 

[WorldT]

Please fill me in here. I missed the memo? Are you intentionally low balling to get rock bottom price on a points purchase?

You can't low ball a purchase that is practically free. ..
Redweek typically has one or more available for $1 at any given time.

 

[billymach4]

You can't low ball a purchase that is practically free. ..
Redweek typically has one or more available for $1 at any given time.

What is the OP trying to achieve? Raising the price incrementally from $1.51 to $1.52? Or just attempting to get Marriott to offload points from sellers? Trying to flood Marriott with more points to sell at Presentations for $50,000?

Just asking?

 

[TolmiePeak]

I would still rather rent points from other owners for less than the maintenance fees rather than buy them outright.

 

[equitax]

I’m actually looking to acquire some points here. Mainly for the 60 day booking window on escapes and the titanium Marriott status which has value based on my hotel usage.

If I manage to make them exercise and pay out in money more than the value of what I bought and rescinded direct (which will happen next week if they exercise once more) it will be an added bonus.

There’s a method to my madness that I don’t want to post public and would be selective on with whom I would share by PM, but yes am helping the disgruntled out of their ownership where it doesn’t cost them a red cent, and they can likely end up with $ in their pocket and I’m happy to say I’ve managed to help owners unload close to 20k points in the last 2 weeks.

 

[billymach4]

I suppose I can read your recent posts to get more context of your bone of contention. Most of the time at the pool or hot tub I spread the gospel of TUG and the resale landscape.

 

[WorldT]

What is the OP trying to achieve? Raising the price incrementally from $1.51 to $1.52? Or just attempting to get Marriott to offload points from sellers? Trying to flood Marriott with more points to sell at Presentations for $50,000?

Just asking?

OP may have their reasons but I see it a little differently from your take. I see a current owner who is trying to get out of ownership. The owners are offering it for free or almost free but no takers. Marriott wouldn't take it directly.
So anything that facilitates current owners being relieved of their current ownership works for me. They are trying to give it away to other owners.

 

[daviator]

OP may have their reasons but I see it a little differently from your take. I see a current owner who is trying to get out of ownership. The owners are offering it for free or almost free but no takers. Marriott wouldn't take it directly.
So anything that facilitates current owners being relieved of their current ownership works for me. They are trying to give it away to other owners.

Marriott won't take it back directly, but they may reacquire it if you find a "buyer" at a low price, they will take it back (and even pay a bit for it) via ROFR. So while I don't have any insight into what @equitax is doing, I suspect he or she is helping owners who want to get rid of their points, while also hoping to pick up some points on the cheap. Seems like a win-win.

If I had points I wanted to get rid of – and I don't want to get rid of mine – I wouldn't even consider paying a fee to give them back. I'd find a low-priced buyer and either sell it to them or let MVC buy it back from me.

 

[Dean]

I would still rather rent points from other owners for less than the maintenance fees rather than buy them outright.

If I needed points consistently most years, I'd rather own them or something that generates points, so I have more control. I'm Chairman's Club and see the increased flexibility and additional control (banking, borrowing, predictability) as having value. For an occasional need that didn't fit a usage pattern that could be accounted for with yearly (or EOY) points I would pay to transfer.

Based on the OP's post, they want to use inside the 60 day window. Has anyone found a closing agent that will submit without the additional $3 Per Point charge? I've asked several out of curiosity and they all said it was required.

 

[equitax]

Dean is right on the money here. I am after the elevated status at MVC and associated titanium at hotel, and have floated around 20k of points of offers that all died on ROFR through 8 different purchase in the last two weeks. They exercised on all of them. So the way I see it I’ve saved 4 different owners combined total of 16.2k as they didn’t have to pay 2027 mf for mori to take them out, and all it cost them was the agent fee which got netted out of my offer price that Marriott exercised on. I’m fine with paying the 750/bi initiation fee on the points I will manage to get the through rofr, The one they exercised on yesterday was particularly beautiful because seller got to wipe out the10+k that he owed as to mvc on financing and will net around 6k in cash to boot.

 

[equitax]

Marriott won't take it back directly, but they may reacquire it if you find a "buyer" at a low price, they will take it back (and even pay a bit for it) via ROFR. So while I don't have any insight into what @equitax is doing, I suspect he or she is helping owners who want to get rid of their points, while also hoping to pick up some points on the cheap. Seems like a win-win.

2 of the sellers I dealt with were presented with the option to deed back to Marriott provided they paid a penalty equivalent to current year mf/pt x number of points (ie next years mf at this years rate)

 

[Dean]

Dean is right on the money here. I am after the elevated status at MVC and associated titanium at hotel, and have floated around 20k of points of offers that all died on ROFR through 8 different purchase in the last two weeks. They exercised on all of them. So the way I see it I’ve saved 4 different owners combined total of 16.2k as they didn’t have to pay 2027 mf for mori to take them out, and all it cost them was the agent fee which got netted out of my offer price that Marriott exercised on. I’m fine with paying the 750/bi initiation fee on the points I will manage to get the through rofr, The one they exercised on yesterday was particularly beautiful because seller got to wipe out the10+k that he owed as to mvc on financing and will net around 6k in cash to boot.

This seems like a lot of work and aggravation in a futile attempt to get a cheaper than likely possible price unless one is just enjoying the process. I'd think the only chance of getting through ROFR on a points package at under the otherwise going rate would be the end of the year if they've exhausted their budget. Plus you're losing the usage of the points and other benefits you're seeking in the interim.

You might investigate the cost of a Gold Playa Andalusia 2 BR Bold garden view unit or a 1 BR Gold Marbella unit (If the points are enough to satisfy your needs). Intant access, possibly bonus points and maybe little more than you're going to pay with this process. And if you're OK with more points you could potentially buy a resale week somewhere then enroll it with such a purchase. Obviously more points and a higher cost but a potentially cheaper per point situation.

 

[TolmiePeak]

If I needed points consistently most years, I'd rather own them or something that generates points, so I have more control. I'm Chairman's Club and see the increased flexibility and additional control (banking, borrowing, predictability) as having value. For an occasional need that didn't fit a usage pattern that could be accounted for with yearly (or EOY) points I would pay to transfer.

Based on the OP's post, they want to use inside the 60 day window. Has anyone found a closing agent that will submit without the additional $3 Per Point charge? I've asked several out of curiosity and they all said it was required.

Yes but isn't the maintenance fees on the points outrageous?

 

[Dean]

Yes but isn't the maintenance fees on the points outrageous?

Sure but not significantly different than the price to rent them and there is a lot more potential value in owning than renting for use most years. Depending on the specific situation there are often ways to get the fees down but there is an economy of scale and the ways to do so more cheaply up front are a lot less than they used to be. One has to look at each situation to see what's best. Personally I would not want to deal with the risks AND limitations of rented (transferred) points on a routine basis.

 

[WorldT]

Dean is right on the money here. I am after the elevated status at MVC and associated titanium at hotel, and have floated around 20k of points of offers that all died on ROFR through 8 different purchase in the last two weeks. They exercised on all of them. So the way I see it I’ve saved 4 different owners combined total of 16.2k as they didn’t have to pay 2027 mf for mori to take them out, and all it cost them was the agent fee which got netted out of my offer price that Marriott exercised on. I’m fine with paying the 750/bi initiation fee on the points I will manage to get the through rofr, The one they exercised on yesterday was particularly beautiful because seller got to wipe out the10+k that he owed as to mvc on financing and will net around 6k in cash to boot.

I see what you did there. I didn't know mvc will exercise ROFR on something like that. They must be short on points.

 

[Dean]

I see what you did there. I didn't know mvc will exercise ROFR on something like that. They must be short on points.

They have their minimum cutoff and as long as they have funds to do so, they will take any contract submitted that fall below that minimum. Recent history would suggest that is in the range of $3 to $3.50 PP plus the $3 PP junk fees with a minimum fee.

 

[TolmiePeak]

Sure but not significantly different than the price to rent them and there is a lot more potential value in owning than renting for use most years. Depending on the specific situation there are often ways to get the fees down but there is an economy of scale and the ways to do so more cheaply up front are a lot less than they used to be. One has to look at each situation to see what's best. Personally I would not want to deal with the risks AND limitations of rented (transferred) points on a routine basis.

I'm still learning. What limitations and risks do I have on rented points? I got a Waiohai contract from my mother in law and would have added on but I balked at the maintenance fees. Seems like HGVC was a much better deal. On average it seems like the Marriott properties are slightly nicer but the maintenance fees are double.

 

[Dean]

I'm still learning. What limitations and risks do I have on rented points? I got a Waiohai contract from my mother in law and would have added on but I balked at the maintenance fees. Seems like HGVC was a much better deal. On average it seems like the Marriott properties are slightly nicer but the maintenance fees are double.

For me since I'm Chairman's Club, I have a 4 years window to use a given point. I can borrow one year ahead, use them within the Use Year or bank them giving me 2 additional years to use the points. I can bank up to the end of Oct of the UY, Lower tiers will have an earlier banking window and an earlier window where they can elect points from the following years weeks. They also often have a shorter window to use them once banked. For transferred points you have to pay attention to the UY, most are January but not all. They also cannot be banked or borrowed.

 

[rickandcindy23]

If you pay $2.00/pt, and it passes ROFR, don't you still pay $3.00/pt. to Marriott? 15,000 X $5.00 is still $75,000 to get Chairman's Club status. How many weeks can you buy to use in II for $75,000, and you can buy some good ones.

 

[WorldT]

They have their minimum cutoff and as long as they have funds to do so, they will take any contract submitted that fall below that minimum. Recent history would suggest that is in the range of $3 to $3.50 PP plus the $3 PP junk fees with a minimum fee.

It looks like the last one still had a mortgage left on it. I didn't realize they will exercise ROFR on a contract like that.

 

[Dean]

It looks like the last one still had a mortgage left on it. I didn't realize they will exercise ROFR on a contract like that.

I suppose it depends on how the deal is structured. Normally they will require the contract be paid in full and fees up to date to close. They hold the power, they could deny closing or they could just foreclose and get it back for "free" if behind on dues. I assume the contract was set to be paid off at closing by some combination of the OP and seller's funds. Maybe the OP will give us more details to know how to look at this? In some cases there may be some variations for other foreclosures (financed through a bank or similar) or for bankruptcy.