Rofr - Dsv I

[tomgou]

Could you please tell me if Marriot Desert Springs 1 Has ROFR. I read in the Marriot FAQ section that it does not, but was told that it now has it, as of a few months ago?? Is this correct info
Thanks
tom

 

[RedDogSD]

Could you please tell me if Marriot Desert Springs 1 Has ROFR. I read in the Marriot FAQ section that it does not, but was told that it now has it, as of a few months ago?? Is this correct info
Thanks
tom

The Estoppel Certificate that I am looking at for Desert Springs Villas I does not mention ROFR. I am also looking at the Estoppel Cert on a different property and it DOES say ROFR, so they might not have it. Regardless, I would not worry about it. They are NOT taking any inventory back right now. Unless you got it for $1, I doubt they would exercise it.

Also, while I am no Lawyer, I deal with contracts all of the time, and they cannot change a term like that in a contract. So, find out when the week was originally purchased from Marriott that you are looking at. Unless the contract was from a few months ago when they changed it, you are fine. I am sure that you are looking at an older contract. Who the heck would have just bought the darn thing from Marriott a few months ago and selling on Resale market already.

 

[FlyerBobcat]

Tom,

A really doubt that this can change, as I think it's related to the original sales agreements.

But your post raises a few questions:

• Who stated this? A Marriott salesperson? An ebay seller (in order to collect an extra fee)?
• Should you even care, since Marriott's ROFR activity has vanished in the last year or two ???

 

[jme]

ROFR

As Tom so rightly said, you shouldn't care either way.

A couple of the closing companies that are associated with most sales on ebay claim near 100% closing rate on their properties. If that's true (sometimes doubtful, but i'm taking them at their word), that means that Marriott has not exercised ROFR in a long, long time. A recent conversation with an attorney who works for one such company guaranteed me that their recent experience with Marriott was indeed 100% closing on their sales of timeshares, including those sold on ebay.

And if you look at the number of Marriott timeshare properties that are added to ebay each week (average about 4-5 a day), it's a bunch. And they sell for some pretty low prices.

I've been following them for months now, and there are bargains to be had. That is, for those who wish to risk the upcoming "changes" prior to knowing exactly what's coming. Personally I don't think it'll matter much to those who value a cheaper resale in lieu of buying into the points system for a new "vacation experience" at a high price.

Resale ownership will always give you occupying and trading, regardless. That's all most people want anyway. Worth the risk? I think so. You'll sleep in the same beds as the guy who buys into a points system, or who bought from developer. Sorta like the guy who flies on cheaper fares or FF miles. He's always the one smiling.

We bought initially from Developer, but have learned a bit since.

 

[dioxide45]

I don't think DSVI has ROFR, but DSVII does. So perhaps that is why there is some confusion.

It has happened, I believe at Summit Watch or Streamside. They did in fact add ROFR to the resort after the fact. It can be done, depending on how the governing documents are written.

 

[cp73]

DSV I does not have ROFR because it was one of the first resorts and ROFR was not done at that time by Marriott.

 

[tomgou]

Passed ROFR

I guess they do have ROFR at desert villas 1,I was just notified

"At this Point Marriott has waived their Right of First Refusal so we can proceed with the recording of your deed At Marriott Desert Springs Villas 1"
I am happy that my $500 red week 2 bedroom passed!!!!

tom

 

[m61376]

I guess they do have ROFR at desert villas 1,I was just notified

"At this Point Marriott has waived their Right of First Refusal so we can proceed with the recording of your deed At Marriott Desert Springs Villas 1"
I am happy that my $500 red week 2 bedroom passed!!!!

tom

Congrats!
What season was the week?

 

[tomgou]

weeks 1-21 and 51 & 52 Red

 

[DanaTom]

Wow, you got a terrific deal.. Congrats!!

 

[thinze3]

$500 for a DSV 2BR week in RED seaon?

Are you pulling our legs? If not, this must be a mistake!

I guess they do have ROFR at desert villas 1,I was just notified

"At this Point Marriott has waived their Right of First Refusal so we can proceed with the recording of your deed At Marriott Desert Springs Villas 1"
I am happy that my $500 red week 2 bedroom passed!!!!

tom

 

[m61376]

Are you pulling our legs? If not, this must be a mistake!

According to his posts here the price wasn't a typo.

I hope, Tom, that you have obtained an Estoppel letter and verified the ownership info. with Marriott. Unless your seller was uninformed or just desperate to get out from the MF's, the price makes us wonder whether the details were wrong. Then again, people pay PCC's for the "privilege" of getting out of some high value weeks.

If all is legit, you may have just won the gold star for resale buys, even in this economy. Enjoy the satisfaction!

 

[thinze3]

According to his posts here the price wasn't a typo.

I hope, Tom, that you have obtained an Estoppel letter and verified the ownership info. with Marriott. Unless your seller was uninformed or just desperate to get out from the MF's, the price makes us wonder whether the details were wrong. Then again, people pay PCC's for the "privilege" of getting out of some high value weeks.

If all is legit, you may have just won the gold star for resale buys, even in this economy. Enjoy the satisfaction!

It sounds very fishy, but you never know in this crazy world. Most likely the seller or PCC didn't even know that DSV I doesn't have ROFR and sent the letter in to Marriott anyhow.

OP can you tell us who the seller is??

 

[tomgou]

luvthetime and they have been great. They have answered every question and have been very helpful.

 

[DanaTom]

if they got another one, I'm interested....:rofl: :rofl:

 

[DanaTom]

if they said they have already processed the ROFR, I'd question it. Less than two weeks?... also, did they ask you all the personal info MVC requires, including getting drivers license or passport copies? I ask this as I recently went through the process. However, as others have pointed out DSV I may not actually require it on older sold weeks.

I wish you the best on this, but sometimes when deals are too good to be true, they are too good.

Good luck and let us know how it turns out.... I may have to watch luvthetime a little more. :whoopie:

 

[thinze3]

luvthetime and they have been great. They have answered every question and have been very helpful.

Was this off eBay? If so, do you have a link?

I did a Google search for both "Desert Springs" and +luvthetime and had no luck. ???


.

 

[JanT]

Are you saying that Marriott requires the buyer to provide a copy of their driver's license or passport information? That would be strange to ask a buyer for. Perhaps the seller but the buyer? We are in the middle of a purchase of a Marriott property and it has passed ROFR and there was no request for that information. But, perhaps I'd better call the closing company on Tuesday to inquire about that.

if they said they have already processed the ROFR, I'd question it. Less than two weeks?... also, did they ask you all the personal info MVC requires, including getting drivers license or passport copies? I ask this as I recently went through the process. However, as others have pointed out DSV I may not actually require it on older sold weeks.

I wish you the best on this, but sometimes when deals are too good to be true, they are too good.

Good luck and let us know how it turns out.... I may have to watch luvthetime a little more. :whoopie:

 

[EducatedConsumer]

Are you saying that Marriott requires the buyer to provide a copy of their driver's license or passport information? That would be strange to ask a buyer for. Perhaps the seller but the buyer? We are in the middle of a purchase of a Marriott property and it has passed ROFR and there was no request for that information. But, perhaps I'd better call the closing company on Tuesday to inquire about that.

Do you remember seeing two airplanes flying into the World Trade Center, another the Pentagon, and another a field in Pennsylvania on 9-11-2001?

From that horrific day came The Patriot Act.

The Patriot Act (I believe) requires Sellers of real estate to verify identity and citizenship of purchasers of real estate. Marriott may be taking no chances and confirming certain facts that the Seller is obligated to verify. I just wish Marriott would require a photo identification of all of their guests (consistently) upon check-in.

 

[JanT]

Well not that I need to respond to your condescending attitude but for the record, yes, I do remember that day all too well. My next door neighbor was killed in the Pentagon attack, my boss was in the Pentagon but survived, and I have a son who is now serving his third tour of duty in our "war against terrorism," and a son-in-law serving his second.

I guess I don't think of timeshares in terms of "real estate" therefore didn't think about how the Patriot Act might be applied to timeshares. But, thanks for clearing that up for me Mr. Educated Consumer.

Do you remember seeing two airplanes flying into the World Trade Center, another the Pentagon, and another a field in Pennsylvania on 9-11-2001?

From that horrific day came The Patriot Act.

The Patriot Act (I believe) requires Sellers of real estate to verify identity and citizenship of purchasers of real estate. Marriott may be taking no chances and confirming certain facts that the Seller is obligated to verify. I just wish Marriott would require a photo identification of all of their guests (consistently) upon check-in.

 

[DanaTom]

Per our escrow company, this was the comment they made to us back in late January. "Marriott is now requiring the following information for all resale transactions: social security numbers for all owners, dates of birth for all owners, copy of driver's license or passport. Please provide this required information, as Marriott will not process the transfer of ownership without this information."

Now that I re-read this, it doesn't look like it was a requirement for the ROFR processing. But, those kind of go hand in hand, I think. In any event the ROFR was quick... within a couple weeks.

 

[JanT]

DanaTom, I tend to think that Marriott will require it before the final transfer but for ROFR I would be surprised. But, it wouldn't be the first time I've been surprised in my life.

 

[Cathyb]

ROFR

I guess they do have ROFR at desert villas 1,I was just notified

"At this Point Marriott has waived their Right of First Refusal so we can proceed with the recording of your deed At Marriott Desert Springs Villas 1"
I am happy that my $500 red week 2 bedroom passed!!!!

tom

That is interesting because as an owner I addressed that question to the Resort Manager and got a reply that DSV I had no ROFR because when it was first built, that did not exist.

 

[Cathyb]

Non-lockoff cannot be DSV-1

According to his posts here the price wasn't a typo.

I hope, Tom, that you have obtained an Estoppel letter and verified the ownership info. with Marriott. Unless your seller was uninformed or just desperate to get out from the MF's, the price makes us wonder whether the details were wrong. Then again, people pay PCC's for the "privilege" of getting out of some high value weeks.

If all is legit, you may have just won the gold star for resale buys, even in this economy. Enjoy the satisfaction!

DSV-I is only a two bedroom lock-off; to my knowledge they never sold separate portions of this particular development! We have owned there for a long time and this has never come up.

 

[James1975NY]

I guess they do have ROFR at desert villas 1,I was just notified

"At this Point Marriott has waived their Right of First Refusal so we can proceed with the recording of your deed At Marriott Desert Springs Villas 1"
I am happy that my $500 red week 2 bedroom passed!!!!

tom

The following propetries do NOT have ROFR

Birch at Streamside
Desert Springs Villas I
Douglas at StreamSide
Fairwa Villas at Seaview
Frenchman's Cove
Harbour Club
Harbour Point
Heritage Club
Monarch
RCC at St. Thomas
Sabal Palms
Sunset Pointe
Royal Palms