Marriott's Ocean Watch Passed ROFR!

[NJMOM2]

I just got word today that the Marriott Ocean Watch I won for $6001 on ebay on Nov. 25th passed the ROFR!! Now we are on to the next step!

 

[dmaxdmax]

Good for you!!!

May I ask what season and view?

Thanks

 

[NJMOM2]

Gold Season and I'm not 100% sure of view. It unit #3014. The seller (a realtor) said it was a garden view but someone here on TUGs in another thread of mine said he thinks it is the Starfish building which is all ocean front.

 

[dmaxdmax]

Thanks for updating the database.

I wonder how low platinum will go....

 

[dougp26364]

Gold Season and I'm not 100% sure of view. It unit #3014. The seller (a realtor) said it was a garden view but someone here on TUGs in another thread of mine said he thinks it is the Starfish building which is all ocean front.

I believe it was mentioned in that other thread that, with Ocean Watch, unit number does not matter. When they were selling GV unit pre-construction they had to list a unit that was already built. Those contracts came with a rider that stated the unit number may have a different view than the contracted unit.

In the beggining people were buying GV rooms but the contracts all had OF or OV unit numbers. However, it was clearly stated in the contract that once the GV units were completed that would be the view those owners were given. While it's not bad to be hopeful, I wouldn't get you hopes to high or be dissapointed if your view is indeed a GV.

No matter what view you eventually end up with you still got a very nice deal on this unit.

 

[dmaxdmax]

No matter what view you eventually end up with you still got a very nice deal on this unit.

A GV at this price is a mere 30% of the developer price!

 

[dougp26364]

A GV at this price is a mere 30% of the developer price!

Really? I had no idea they were selling them so cheap at developer prices. I know that last May they shot us a price around $20,000 for a silver season OF unit. I would have assumed that a gold season GV would have been somewhere closer to that price.

 

[dmaxdmax]

That's exactly right: 30% of the developer ($20) = resale ($6)

From another thread:

Platinum
Ocean Front $39,900
Ocean Side $34,900
Ocean View $29,400
Garden View $26,900

Gold
Ocean Front $27,900
Ocean Side $24,900
Ocean View $21,900
Garden View $19,900

I know I've seen the other season prices but don't remember where.

 

[dougp26364]

That's exactly right: 30% of the developer ($20) = resale ($6)

From another thread:

Platinum
Ocean Front $39,900
Ocean Side $34,900
Ocean View $29,400
Garden View $26,900

Gold
Ocean Front $27,900
Ocean Side $24,900
Ocean View $21,900
Garden View $19,900

I know I've seen the other season prices but don't remember where.

Well, then $6,001 is considerably more than 30% off the list price. In fact, it's more like 70% off the list price! A 30% savings would set the price at $13,930.

Think about it. 1/2 of $19,900 would be $9,950. Since the OP saved $13,900 off the current developer price (he paid $6001), he's done better than 30% in savings. You're looking at the percentage backwards.

20 * 0.3 = 6 and 20 - 6 = 14. 30% off would be $6 off of the price of $20 for a total price of $14.

20 * 0.7 = 14 and 20 - 14 = 6. 70% off would be $14 of the price of $20 for a total price of $6.

So the OP did get a very good price past ROFR.

 

[dmaxdmax]

I said 30% *of*, not 30% *off*. I got the F outta there.

 

[FlyerBobcat]

In the beggining people were buying GV rooms but the contracts all had OF or OV unit numbers. However, it was clearly stated in the contract that once the GV units were completed that would be the view those owners were given. While it's not bad to be hopeful, I wouldn't get you hopes to high or be dissapointed if your view is indeed a GV.

Just curious..... In these types of cases, how does one officially know what "view" they are buying? What document would state this so one could verify before hand? Thanks

 

[dougp26364]

I said 30% *of*, not 30% *off*. I got the F outta there.

At any rate, I still think the OP got a pretty good deal.

 

[dougp26364]

Just curious..... In these types of cases, how does one officially know what "view" they are buying? What document would state this so one could verify before hand? Thanks

Since I haven't purchased an OW week from Marriott under these circumstances, I'm not 100% certain. I do remember reading posts from buyers when OW started selling about the wording in their contract that stated the week they owned would not necessarily be the week listed in the contract.

Hopefully, someone that owns an OW week will post their experiences here. The only other way you might be able to find out is to get the contract information from the seller and call Marriott direct to see if they'll give you the information.

Or, you can take the sellers word for it. While I'm sure mistakes do happen, it wouldn't be in the sellers best interest to advertise a lower quality view when selling their timeshare. I would think that if their week was OF or OV, they'd have advertised it that way hoping to get higher bids.

 

[pcgirl54]

What a great price! Congratulations! Great location.

 

[SueDonJ]

Just curious..... In these types of cases, how does one officially know what "view" they are buying? What document would state this so one could verify before hand? Thanks

SurfWatch sold in view stages also. My 2006 SurfWatch purchase papers contain this wording under PROPERTY DESCRIPTION; OCCUPANCY; PRICE"

"Ultimate Occupancy: OCEANSIDE" ...
"Unit Type: GARDENVIEW" ...
"Ultimate OS Occupancy may commence in: 2007"

The deed for the same unit specifies Unit #5448 but three paragraphs down is, "... although Grantee has been granted an undivided fractional interest in a Gardenview Unit(s) in Building 5400 (a/k/a Building E) of the Regime, it is intended that when Building 5400 containing the Gardenview Unit Type is available for occupancy Grantee's occupancy rights will always be restricted to the Oceanside Unit Type in either Building 5100 (a/k/a Building A) or Building 5500 (a/k/a Building D) of the Regime. Accordingly, Grantee's occupancy rights shall be limited to said Oceanside Unit Type." There is also an amendment sheet titled "OCEANSIDE (OS) OWNERS ULTIMATE OCCUPANCY ACKNOWLEDGMENT AND AGREEMENT" with this text:

"... Purchaser will receive ultimate occupancy in an Oceanside (OS) Unit Type."

"Purchaser's deed reflects an interest in a Unit physically to be located in Building 5400 and a Unit Type which is Gardenview (GV). Nonetheless, pursuant to the Time Sharing Declaration, and the terms of the Contract for Purchase, Purchaser acknowledges that Purchaser's Ultimate Occupancy rights always will be limited to the OS Unit Type, this being the intended and ultimate occupancy for the Purchaser, when Building 5400 containing the GV Unit Type is available for occupancy. ..."

It depends on which buildings were finished/opened first, but I'd guess that OceanWatch would have very similar wording/paperwork to SurfWatch since they're both in South Carolina. NJMOM could ask for a copy of the deed's first page and check the paragraphs following the actual specified unit number.

 

[FlyerBobcat]

SurfWatch sold in view stages also. My 2006 SurfWatch purchase papers contain this wording under PROPERTY DESCRIPTION; OCCUPANCY; PRICE"" .....

Thanks for all the info, Sue

 

[dougp26364]

I said 30% *of*, not 30% *off*. I got the F outta there.

I also missed the ! at the end of the sentence along with adding an additional "f" into your post. Man, I've got to get these glasses checked.

 

[MOXJO7282]

"Ultimate Occupancy: OCEANSIDE" ...
"Unit Type: GARDENVIEW" ...
"Ultimate OS Occupancy may commence in: 2007"[/I]

In my experience, the exact opposite has occurred. When i purhcased OV at the Aruba Surf Club, I was given OF until my unit was ready for occupancy.

When I bought at OW I went for Oceanside, mainly because it was available sooner than OV or GV, so it would seem in my 2 cases they built OF-OS-OV-GV in that order.

Regards.
Joe

 

[SueDonJ]

In my experience, the exact opposite has occurred. When i purhcased OV at the Aruba Surf Club, I was given OF until my unit was ready for occupancy.

When I bought at OW I went for Oceanside, mainly because it was available sooner than OV or GV, so it would seem in my 2 cases they built OF-OS-OV-GV in that order.

Regards.
Joe

I'm not sure what the order was for SurfWatch but an old newsletter indicates that final units in the gardenview and oceanview buildings weren't completed until Spring, 2007. When we purchased in 2006 we got points in lieu of usage for that year (in addition to the purchase incentive points.)

It can be very confusing, but the paperwork does spell it all out in several different places. Our rep went up, down, over and around it several times during the presentation to make sure we understood it completely.

 

[Beverley]

I said 30% *of*, not 30% *off*. I got the F outta there.

 

[Beverley]

"Ultimate Occupancy: OCEANSIDE" ...
"Unit Type: GARDENVIEW" ...
"Ultimate OS Occupancy may commence in: 2007"[/I]

The deed for the same unit specifies Unit #5448 but three paragraphs down is, "... although Grantee has been granted an undivided fractional interest in a Gardenview Unit(s) in Building 5400 (a/k/a Building E) of the Regime, it is intended that when Building 5400 containing the Gardenview Unit Type is available for occupancy Grantee's occupancy rights will always be restricted to the Oceanside Unit Type in either Building 5100 (a/k/a Building A) or Building 5500 (a/k/a Building D) of the Regime. Accordingly, Grantee's occupancy rights shall be limited to said Oceanside Unit Type." There is also an amendment sheet titled "OCEANSIDE (OS) OWNERS ULTIMATE OCCUPANCY ACKNOWLEDGMENT AND AGREEMENT" with this text:

"... Purchaser will receive ultimate occupancy in an Oceanside (OS) Unit Type."

"Purchaser's deed reflects an interest in a Unit physically to be located in Building 5400 and a Unit Type which is Gardenview (GV). Nonetheless, pursuant to the Time Sharing Declaration, and the terms of the Contract for Purchase, Purchaser acknowledges that Purchaser's Ultimate Occupancy rights always will be limited to the OS Unit Type, this being the intended and ultimate occupancy for the Purchaser, when Building 5400 containing the GV Unit Type is available for occupancy. ..."

Okay, I am confused ... Does the person have garden view or Ocean side? as "ultimate occupancy rights will always be limited to OS" but bought "garden view". Am I reading into this too much or are they just saying that the fill in occupancy is OS as opposed to Ocean Vista and the garden view starts when the units are finished? If so, why are they saying that when "5400 is available" the occupancy will be restricted to OS?

Beverley

 

[NJMOM2]

Berverley,

That comment was written about SurfWatch. I now have a better understanding of what I bought at OceanWatch. The actual deeded room is OF but it is a GV. I have the right to use a an OF room room until the GV rooms are completed in 2010. After 2010 I will have a GV room. I hope that clears it up for you. I guess that the only way this would work is if some of the physical GV rooms were sold as OF.

 

[PerryM]

oops wrong thread...

 

[Beverley]

Berverley,

That comment was written about SurfWatch. I now have a better understanding of what I bought at OceanWatch. The actual deeded room is OF but it is a GV. I have the right to use a an OF room room until the GV rooms are completed in 2010. After 2010 I will have a GV room. I hope that clears it up for you. I guess that the only way this would work is if some of the physical GV rooms were sold as OF.

Yes, that does help. Do you think this would be confusing if you were to sell your week?

Thanks

Beverley

 

[NJMOM2]

I bought OceanWatch resale at the end of last year. Yes it was very confusing but I got it now. When I view my resorts in my Marriott account it lists the view for OceanWatch as Garden View/Ocean Front. Because the unit is assigned two view I can not book on line. I am hoping that changes after 2010. It's a gold week and I am going to attempt to make my first reservation for mid August 2010 in a few weeks. I can only call on the phone. I got that now but that was also confusing. When I asked owner services for help with the on line reservation system they were confused too. They evenually got back to me with the correct information about why I can't reserve my week on line. I suppose when it's time to sell it I would just have to explain that the physical unit is just a room number and not the view associated with unit.