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Price for Week 52 at Newport Coast Villas

Dewnay

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Just received a notice from a broker on a "Huge Price Drop" for a Platinum Holiday Week 52 at Marriott's Newport Coast Villas. The asking price is $16,000. They apparently have 3 weeks available from the same seller.

Any suggestions as to a starting offer? The last developer price that I saw for Week 52 is $37,600. $16K is approximately 43% of that.

Thanks in advance,

D.
 

Bill4728

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I'm not sure what you mean by starting offer. The asking price is IMHO a steal. I'd happily offer that amount if a Plat plus week was what I wanted.

PS I know that prices are dropping ( saw your other thread about Platinum prices) But Plat plus almost always gets a "big extra" in the prices. The seller would likely be firm on his price and only lower his price when he can't sell at $16K
 
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Dewnay

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Thanks for your insight, Bill.

I see from the ROFR Database that Marriott has exercised on the two most recent entries. I wonder if this one will make it through.

D.
 

tombo

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I wouldn't base my bid or offering price on anything to do with ROFR, simply buy it if you can for a good price and see what happens. If they ROFR (which they probably won't), there will be hundreds more for sale in the near future. Keep buying them as cheap as you can until you own one. If you lose the sale on one of these I would bet you will find one cheaper in the near future.

As far as offering lower than their asking price, ALWAYS do that. Most sellers put some negtiating room in their ad when they price it for sale. You can always go up on your offer if they don't accept it, but once you make an offer it is very hard to offer less than what you originally offered to pay. Good Luck on your purchase.
 

Dewnay

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Update:

I made an offer of $14,000 and it was accepted by the seller without a counter. I was just notified today that Marriott waived ROFR.

Although I acquired this for 37% of the current developer price ($38,100), I can't help think that I should have started with a lower offer since the seller didn't make a counter offer.

Thanks to Bill and Tombo for their input.

D.
 

Bill4728

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Update:

I made an offer of $14,000 and it was accepted by the seller without a counter. I was just notified today that Marriott waived ROFR.

Although I acquired this for 37% of the current developer price ($38,100), I can't help think that I should have started with a lower offer since the seller didn't make a counter offer.
D.
WOW!! I thought $16K was good. $14K for week 52 is GREAT!!. :cheer:

Congrats :whoopie:
 

gores95

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Update:

I made an offer of $14,000 and it was accepted by the seller without a counter. I was just notified today that Marriott waived ROFR.

Although I acquired this for 37% of the current developer price ($38,100), I can't help think that I should have started with a lower offer since the seller didn't make a counter offer.

Thanks to Bill and Tombo for their input.

D.

Wow is it only taking a few days for Marriott to decide ROFR? When we purchased a couple of years ago I think it took a month. Either way nice deal!
 

Dewnay

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Wow is it only taking a few days for Marriott to decide ROFR? When we purchased a couple of years ago I think it took a month. Either way nice deal!
Thanks, Marc. From the timestamps on the emails, it looks like Marriott received the ROFR waiver request on 10/17/08 and sent the response to the closing company on 10/22/08 - 3 business days!

D.
 
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