ROFR Exercised/Passed

[hurnik]

Thanks! For the last 2 contracts I used a broker. One that is advertised quite a lot on here. In all fairness, the broker did warn that Hilton would most likely exercise on the SeaWorld contract, and they were right.

Even though the purchase price was only $2000, I'd still need to pay around $600 closing costs, $409 transfer fee, $62 estoppel, etc..so total amount was well over $3000. Another reason for the debate on what should be posted on rofr.net

If you can wait, I'd say keep trying and you'll probably eventually get something. I'm amazed at many great deals folks have gotten but it may have taken them 2-3 years. Plus timing it towards the Q3/Q4 of 2019, Hilton will have probably exhausted their ROFR budget as well. It's all about timing and such (random luck sometimes with eBay auctions or "free" ones that people just want to get rid of).

I'd say you would probably have better luck at around the $4k range, but I know also that with patience, a GREAT deal can be had.

Good luck, and keep reporting back!

 

[cas42021]

If you can wait, I'd say keep trying and you'll probably eventually get something. I'm amazed at many great deals folks have gotten but it may have taken them 2-3 years. Plus timing it towards the Q3/Q4 of 2019, Hilton will have probably exhausted their ROFR budget as well. It's all about timing and such (random luck sometimes with eBay auctions or "free" ones that people just want to get rid of).

I'd say you would probably have better luck at around the $4k range, but I know also that with patience, a GREAT deal can be had.

Good luck, and keep reporting back!

Thanks @hurnik will do! I have been looking for a few years and am starting to see the trend with timing on certain properties. It's a matter of time before I get the property and point value for the price I want. I will certainly continue to update my progress for those that ate interested.

 

[cas42021]

@cas42021 No bitterness at all. You sounded surprised in your posts that your deals were ROFRed. Here is a broader context to the game to help you understand what's going on:

Some owners are financially stable and don't care about a few thousand so just want out quickly. They purposefully set a lowball price knowing so that it will attract an offer quickly but know that it will ultimately get ROFRed by HGVC. Sometimes selling to a resale buyer can take months to close and involve headaches - they would rather sell to HGVC. They don't care as long as the buyer can sign an offer because the price is low enough that they are reasonably certain HGVC will ROFR it and take it off of their hands quickly. Ebay is one low cost way to do this. So perhaps the owners are accepting your offers with the intent to sell back to HGVC quickly. HGVC also wins because you are doing HGVC negotiation dirty work for free.

In this case you may think you are negotiating a great deal for yourself but both the owner and HGVC are gaming you. Sometimes crumbs fall through the cracks and you end up with a great deal - if you are willing expend your time trying then that is your choice. Others are comfortable with the fact that resale buyers save tens of thousands off retail so paying a bit more to get to $1 a point with certainty so they can move on with their life vs. stressing over saving a thousand or two for a 20 year purchase that doesn't move the needle. That's all.

@CalGalTraveler not surprised at all. I have been following HGVC for several years, just recently starting to get more active at trying to find what I want for a certain price I want to pay. I'm very familiar with the process and why sellers list their contracts low, or negotiate down. They want out.

As for Hilton gaming me, I don't care. When I eventually get what I want for an incredible price it will be worth it. I am working with a team of brokers. If anyone, it's doing them a favor. Most of the sellers are their customers too, so they get their commission either way, whether I buy or Hilton exercises their ROFR. Eventually I'll get what I want. It hardly costs me any time or stress. I think the last 2 deals that fell through cost me 3 emails a piece, and my electronic signature and initials to a contract. Probably 10mins total for each, not even a phone call..so I am good with that..hardly the time expenditure you have exaggerated above.

My main reason for posting my experience was because I know it helps a lot of people here, and they are curious. The only other intent was to see if anyone had insight into ROFR or recent personal experience at similar properties I can draw from as a tip to accomplish what I'm trying to buy. That's all.

 

[JIMinNC]

I have heard that, but I have just seen people get this same contract for 4800pt Annual Platinum for $2000 and it passed ROFR. One was at Elara and the other at Anderson.

The timing may have to be perfect I guess..

As others have noted, some properties are easier to get through ROFR because HGVC may bee less willing to exercise at some resorts.

Another situation that may allow some seemingly low ball offers to pass, particularly with eBay sellers, is the practice of some eBay sellers who charge the selling owner big upfront fees to sell their timeshare. These sellers then may fold that upfront fee into what is submitted to HGVC, so if a selling owner paid a $2000 up front fee, and you offer the eBay seller $2000, they submit a price of $4000 to HGVC. I don't have direct experience with a transaction like that, but have read here on TUG some eBay sellers do this.

 

[Brian_F]

Annual 1BR Platinum at SeaWorld for $2000 just failed ROFR. I believe it was submitted to them a week ago. 3rd try, 3rd ROFR exercised. Different property each time. I didn't find out till after the seller accepted my offer, they were including 4600 rescued points, so would have had 9400 point usage for 2019. Would have been a nice trip to Hawaii.

I just got this added to ROFR.net

Anyone have any tips for me? Am I just offering too little? I swear I see people getting deals like this or better off eBay, and Hilton waives. What am I missing here?

If you want Hawaii try Bay Club. It’s an affiliate so no ROFR and they go for next to nothing on eBay. Maintenance fees are a little higher but factor in what you save up front and I think it balances out. I was looking for an EOY and got a 1 bdrm for $99 sell price and $350 total with closing. I have to option to join HGVC after it closes $399 + $176 club dues.


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[Brian_F]

I don’t think anyone (excluding brokers) puts a timeshare on eBay looking to make money and if it’s a no reserve auction they are just trying to unload it. If the seller is worried about getting low balled they put a reserve price on it. Otherwise I think they realize people are going to try to get it for nothing.


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[tombanjo]

Well it's official, My new Hilton Club New York has shown up in my account. it was $9,500 plus closing and fees. 5,000 points which is the silver season 1 bedroom. It came with 5000 2018 points the owners saved to 2019 as a bit of a bonus. The 2017 points disappeared, which is annoying, but how it ended up. The points range from 4100 to 12000, so right next to the bottom of the scale, but ok with me. Looking at the history, it was sold in 2015 for 39K. Neither the estoppel nor the deed mention RTU. How can I verify that this deed is in perpetuity and not 2032 ?

 

[CalGalTraveler]

Well it's official, My new Hilton Club New York has shown up in my account. it was $9,500 plus closing and fees. 5,000 points which is the silver season 1 bedroom. It came with 5000 2018 points the owners saved to 2019 as a bit of a bonus. The 2017 points disappeared, which is annoying, but how it ended up. The points range from 4100 to 12000, so right next to the bottom of the scale, but ok with me. Looking at the history, it was sold in 2015 for 39K. Neither the estoppel nor the deed mention RTU. How can I verify that this deed is in perpetuity and not 2032 ?

Congrats! That's a fantastic price for NYC. Did it pass through ROFR before Dec 31 2018 or this year? Curious to see if it passed because of end of year ROFR budget depleted (Nov/Dec), or whether they are gearing up for new Quin sales and expect an excess of NYC trade-ins for Quin purchases.

 

[tombanjo]

Passed 11/17/18 took over 30 days as well. They made the sellers pay to bank the points, which is ok for me.

 

[MrPipman]

I purchase 7000 annual Platinum points at the Bay Cub on the Big Island for $5000 and 12,900 annual Platinum points at King's Land for $16000 both in December 2018 both were passed.

 

[Magus]

"Pending 7k points 2b/2ba Plat Vegas on the Boulevard 873MF @ $5,750 + MF reimbursement and 5k points Gold 2b/2ba SeaWorld @ $1,950 + MF reimbursement (+3800 carryover points). Will let you know how these go. Fingers crossed, especially the first one."

Update - Seaworld cleared in less than 2 weeks. On the Boulevard failed on 2/11 with HGV exercising ROFR. Looks like I'll be back on the market for a second unit.

 

[Panina]

"Pending 7k points 2b/2ba Plat Vegas on the Boulevard 873MF @ $5,750 + MF reimbursement and 5k points Gold 2b/2ba SeaWorld @ $1,950 + MF reimbursement (+3800 carryover points). Will let you know how these go. Fingers crossed, especially the first one."

Update - Seaworld cleared in less than 2 weeks. On the Boulevard failed on 2/11 with HGV exercising ROFR. Looks like I'll be back on the market for a second unit.

Make sure to add them to rofr.net. Congratulations on the first one.

 

[Mr Smith]

Just passed ROFR for a Lagoon Tower, Platinum 1 BR Plus (EOY) for $5,100. Excited to be able to book in summer when the kid is out of school! Thanks to the HGVC Tug group for aiding in my research.

 

[Panina]

Just passed ROFR for a Lagoon Tower, Platinum 1 BR Plus (EOY) for $5,100. Excited to be able to book in summer when the kid is out of school! Thanks to the HGVC Tug group for aiding in my research.

Congratulations and welcome to tug.

 

[cas42021]

Just passed ROFR for a Lagoon Tower, Platinum 1 BR Plus (EOY) for $5,100. Excited to be able to book in summer when the kid is out of school! Thanks to the HGVC Tug group for aiding in my research.

Congrats!

 

[CalGalTraveler]

Just passed ROFR for a Lagoon Tower, Platinum 1 BR Plus (EOY) for $5,100. Excited to be able to book in summer when the kid is out of school! Thanks to the HGVC Tug group for aiding in my research.

Congrats on a great deal. We love Lagoon Tower.

 

[Mr Smith]

Thanks to all. This has really been a helpful forum. Everyone seems to be willing to help/share information in a positive way. Not typical of most forums I have used.

My parents bought a HGVC timeshare over 10 years ago and have loved it. Timeshares tend have a negative connotation and I think HGVC is one of the few that has good value.

Keep updating ROFR.net as much as possible as it helps see the trending values of each property. It would be nice if they added a sort feature for the season and unit type after the resort is selected. This way it would be easier to compare the same unit types. If not, it is still extremely useful and am glad someone is taking on that tedious task.

 

[gamewarden44]

ROFR passed at HGVC Las Vegas at the Flamingo 4800 annual pts 1BR Platinum season - for $2750. Was told by agent this ROFR are not exercised at this resort by HGVC. On to the transfer.

 

[Bailey#1]

ROFR passed at HGVC Las Vegas at the Flamingo 4800 annual pts 1BR Platinum season - for $2750. Was told by agent this ROFR are not exercised at this resort by HGVC. On to the transfer.

The Flamingo is very nice, congratulations!

 

[dayooper]

ROFR passed at HGVC Las Vegas at the Flamingo 4800 annual pts 1BR Platinum season - for $2750. Was told by agent this ROFR are not exercised at this resort by HGVC. On to the transfer.

Yup, The Flamingo was the first resort HGVC built. They did not write ROFR into the deeds there. They started writing that into the deeds when they built their next resort (Sea World). You can get some really nice deals on the Flamingo as the price negotiated will get you the interval.

From one Flamingo owner to another, congrats on the purchase!

 

[gamewarden44]

Yup, The Flamingo was the first resort HGVC built. They did not write ROFR into the deeds there. They started writing that into the deeds when they built their next resort (Sea World). You can get some really nice deals on the Flamingo as the price negotiated will get you the interval.

From one Flamingo owner to another, congrats on the purchase!

Thank you! 1 question, do I need to get me a pink tuxedo?

 

[holdaer]

Hey, check out shinesty.com for crazy party suits. Pink Suits, Flamingo suits, etc.

 

[WhatTheDogSaid]

Just bought 7800 annual points, Elara one BR Grand Plus, Platinum week. $7500 sales price plus closing @ $475, plus HGVC transfer fee @ $409, plus broker fee @ $125, plus 2019 points, taxes and maintenance @ $888. (No HGVC Club fees as we are already owners @ the LV Boulevard.)

Excepting the first year annual fees that’s $8509 out the door with a full tank and new wipers and tires and the air freshener tree thingy which I will definitely dispose of responsibly because it makes the dog sneeze.

This is attractive to us as we plan on holding our ownership for 20+ years, so having low annual fees is key. Thank you Diane.

Next stop: www.rofr.net

 

[Mr Smith]

Just bought 7800 annual points, Elara one BR Grand Plus, Platinum week. $7500 sales price plus closing @ $475, plus HGVC transfer fee @ $409, plus broker fee @ $125, plus 2019 points, taxes and maintenance @ $888. (No HGVC Club fees as we are already owners @ the LV Boulevard.)

Excepting the first year annual fees that’s $8509 out the door with a full tank and new wipers and tires and the air freshener tree thingy which I will definitely dispose of responsibly because it makes the dog sneeze.

This is attractive to us as we plan on holding our ownership for 20+ years, so having low annual fees is key. Thank you Diane.

Next stop: www.rofr.net

Congratulations! I just bought the same unit at the same price. I think it is one of the best units in the hgvc system. You get more points than the average 2br yet you pay maintenance on a 1br. At just over .11 per point the long run justifies a higher purchase price. It actually becomes cheaper than some of the free units over a ten year overall cost per point. On top of that, it is a great resort to own at center strip.

 

[dayooper]

Just bought 7800 annual points, Elara one BR Grand Plus, Platinum week. $7500 sales price plus closing @ $475, plus HGVC transfer fee @ $409, plus broker fee @ $125, plus 2019 points, taxes and maintenance @ $888. (No HGVC Club fees as we are already owners @ the LV Boulevard.)

Excepting the first year annual fees that’s $8509 out the door with a full tank and new wipers and tires and the air freshener tree thingy which I will definitely dispose of responsibly because it makes the dog sneeze.

This is attractive to us as we plan on holding our ownership for 20+ years, so having low annual fees is key. Thank you Diane.

Next stop: www.rofr.net

Very nice buy! Congrats!