Marriott Repurchase - First Rigth of Refusal?

[andrewmcdirmid]

I am looking at purchasing a Marriott timeshare (Ko Olina) and was told by a timeshare broker that Marriott has a first right of refusal to re-purchase the timeshare back at 60 cents on the dollar (of the original purchase price).

One: Is this correct? And if yes does Marriott often excercise the first right of refusal?
Two: Do you have any reccomedations about the best means of making an offer on a Ko Olina floating, annual unit and what is a resonable offer in terms of a percentage of the seller's asking price?

Thank you in advance for any advise. Andrew

 

[Dave M]

No, it's not correct. Marriott has ROFR to purchase at the same price that a seller tentatively accepts from you. Thus, if you offer (for example) $8,000 and the seller accepts, Marriott could exercise and acquire the unit, but only by paying the seller the same $8,000 that you would have.

The best way to make an offer is to completely ignore ROFR and make an offer as though it didn't exist. Bargain as much as you can. If you take ROFR into account, you'll almost certainly pay too much, especially since Marriott doesn't seem to be exercising its ROFR these days, probably due to economic times, which have affected Marriott, too.

See this current thread for some help with what's happening with current Ko Olina prices.

Also, I have moved your post to the Marriott forum, for better responses.

 

[Dave M]

Adding....

To learn more about Marriott timeshares, read as much as you can on this Marriott forum and see these FAQS. If you misplace the link, the FAQS are located at the top of the list of topics for this Marriott forum.

Also, here, from the Buying, Selling, Renting forum, is some help with the art of negotiation as it applies to making a timeshare purchase.