Marriott just exercised ROFR on Gold Mountainside

[JudyS]

A Gold Mountainside was listed on the TUG classified for $1, with buyer (me) paying all closing fees. I entered into a contract to buy it, but Marriott exercised ROFR. It took Marriott less than a week to decide they wanted to exercise ROFR.

I wonder if my odds of passing ROFR would have been better if the contract had said that I (the buyer) would pay $725 as the purchase price and the seller would pay closing costs (closing costs would have totaled about $725.) I considered asking the seller to change the terms, but didn't want to complicate the deal, especially since several other TUG members were interested in buying the week. Instead, I just hoped that Marriott wouldn't exercise ROFR on a Gold week.

A possible factor in Marriott's decision may have been that the seller had paid 2012 MFs and was not asking for reimbursement. However, Marriott may not have known about that, as the closing company was initially confused about the MFs and didn't put in the contract that I (the buyer) did not need to reimburse them.

I am bummed, but I guess this deal was too good to be true!

 

[jdunn1]

I wouldn't be too bummed. Now you are not paying an extra 1k a year in dues for a gold week. If you are still bummed, you should buy a platinum Willowridge week. Bet you can get a platinum week for close to a dollar, plus dues on ebay. Lockout and platinum and dues a little more than $100 cheaper a year. Just saying, you have lots of options.

A Gold Mountainside was listed on the TUG classified for $1, with buyer (me) paying all closing fees. I entered into a contract to buy it, but Marriott exercised ROFR. It took Marriott less than a week to decide they wanted to exercise ROFR.

I wonder if my odds of passing ROFR would have been better if the contract had said that I (the buyer) would pay $725 as the purchase price and the seller would pay closing costs (closing costs would have totaled about $725.) I considered asking the seller to change the terms, but didn't want to complicate the deal, especially since several other TUG members were interested in buying the week. Instead, I just hoped that Marriott wouldn't exercise ROFR on a Gold week.

A possible factor in Marriott's decision may have been that the seller had paid 2012 MFs and was not asking for reimbursement. However, Marriott may not have known about that, as the closing company was initially confused about the MFs and didn't put in the contract that I (the buyer) did not need to reimburse them.

I am bummed, but I guess this deal was too good to be true!

 

[gblotter]

With this and other recent reports, I guess we need to get used to the new reality that ROFR is back.

We own two gold weeks at Mountainside. Summer at Mountainside is quite fun and very active - lots of things to do. I totally understand your desire to purchase a summer week there.

There are similar deals to be found on eBay (sometimes even $1 for gold season).

Here are several examples:

http://www.ebay.com/itm/260906113776

http://www.ebay.com/itm/260890686908

http://www.ebay.com/itm/180749025694

http://www.ebay.com/itm/230677003561

I don't see any gold season weeks on eBay at present, but just keep watching and more will come along. I wouldn't necessarily insist on a purchase price of just $1, but you should certainly be able to get one for less than $500 if you are patient.