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Recent ROFRs on Kaanapali and advice on buying resale

Ianneyan

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Any idea if Hyatt is exercising ROFR on 2BR EOY and EY fixed week contracts at Kaanapali? I am specifically looking for weeks 37, 38 or 39 (I am a teacher and fortunate to have a fall break). I don't see any recent ROFRs reported on Kal's spreadsheet. I have a couple offers in and waiting to hear back.

Also, it has been suggested to purchase title insurance for the HRC Kaanapali purchase, which is hefty at up to $1500. Is this really a necessity or is an estoppel enough to ensure I am getting what I am told (contract free and clear of loans/liens, current MF, etc.) Advice?
 
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owl

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Adding a note to this thread to track, since I am also interested in the HRC Ka’anapali resale market sometime time in the next year or so.
 

Kal

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The Estoppel prepared by Hyatt will provide all the information you need. Title insurance would be a waste of $$.

I have heard that Hyatt has not taken a resale at Ka'anapali via ROFR. The transaction would have to be extremely low. IMHO, the resale price would need to be much more than 50% below their "retail price". They have considerable overhead costs on the buy side AND more when they sell the unit. I am aware of a recent sale where they made the ROFR decision in just a few days. That tells me it was a no brainer. They have the right of 30 days to review the sale.
 

ScoopKona

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I answered this question once already. Title insurance is a waste of time and money. If there is something wrong with the title, EVERY OWNER is just as [censored]. The title insurance applies to the entire development -- every room, every week, everything. Don't bother.
 
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