Marriott ROFR

[Robert D]

Does anyone know what the process is for the ROFR. Do you have to send them a signed contract for the resale of a Marriott week or just a summary of the transaction, name of buyer and seller, week, etc. Also, how long do they have to exercise their ROFR? Appreciate your insight into this.

 

[vacationtime1]

Check the FAQ's at the top of this board for more complete answers, but generally, you must sent Marriott a full copy of the contract (the e-mail address is in the FAQ) and Marriott's legal response time varies from project to project but is usually in the 15-30 day range. I got a waiver of ROFR within three days, but that is one of the faster times reported. If Marriott doesn't respond within its time limit (which sometimes happens when its ROFR people get overwhelmed with work), you may proceed. Marriott charges $95 for this "service" -- payable when and if escrow closes.

 

[Jpollo]

Dave M has excellent writeup

http://www.tugbbs.com/forums/showthread.php?t=13111


I think this link will have all the info you need. Looks like Marriott has 30 days to respond, but often does it within 10. When I purchased mine they took the entire 30.

Hope this helps,

Jason

 

[Robert D]

If you bought it on Ebay and don't have a real contract, do you have to sign a contract for the ROFR or just put all the terms on the ROFR form and maybe send a copy of the Ebay completed listing?

 

[myip]

If you bought it on Ebay and don't have a real contract, do you have to sign a contract for the ROFR or just put all the terms on the ROFR form and maybe send a copy of the Ebay completed listing?

Even with Ebay, you should have a contract to protect yourself. What if you brought a platinum and got a GOLD week.... -- How are you going to go after the seller with no contract.

 

[vacationtime1]

If you bought on eBay, you should use an escrow company, and the escrow company will create something that works as a contract (joint escrow instructions describing the price, unit, and terms at the minimum).

That said, you may want to get an ROFR waiver before starting with the escrow company (if Marriott exercises ROFR, you would be out the escrow fees). I have no direct experience, but all Marriott should care about is the unit type (Waiohai 2bd. annual ocean view, etc.) and price. I would try getting that via e-mail; Marriott may issue the waiver conditional on the deal closing on those terms. Otherwise you will probably need to write a formal contract or an open escrow.

 

[Robert D]

This one is thru a seller called Intervalmax on Ebay. They do their own closing, and yes I know this is risky. I paid with a credit card and have some protection from the credit card co. The reason I know that it's a platinum and not gold is that I have a copy of the estoppel letter from the seller and called Marriott and verified everything with them. The price justifies doing it their way at this point but I'm trying to get it closed ASAP, which is not easy to do with Marriott.