ROFR Exercised/Passed

[Mr Smith]

I see there is a report by DanY on the rofr Experiences page of a 2 bdrm platinum on the Boulevard that passed on 5/6/2019 for $6,900, but I don't see a thread here at all for it. The agent I am going through says that HGVC is exercising above $10,000 for this 2 bdrm Platinum Boulevard unit. Is DanY around and can you confirm, was this just an offer that you had made that never closed or did it in fact pass at $6,900. I also see one from 12/1/2018, same unit reported by "HS" that passed at $6,100. Are these sales confirmed? The agent I am using is well known here and reputable and I am just wondering why I am getting such different stories.

The deals are likely real. HGVC resale typically sell at $1/pt. 10k for a 7,000 point deed is more than usual. I closed on an Elara unit late last year for 7,800 points for $7,500. Elara is reported to not be exercising ROFR so possibly you can get a better deal there. I believe Flamingo never exercised ROFR.

 

[terces]

I've read back on this thread and it appears that not all sales that are reported on the rofr Experiences are "apples to apples" in that sometimes other fees are added to bring the total price up to a level that passes. For instance one post mentioned that resellers sometimes charge an upfront fee of several thousand dollars and add that on to the sale price so that it has a higher face price to clear rofr, so I'm just trying to understand if these posts can be taken at face value or if there are other factors. It would be nice to see a post that coincides with them but I cannot see these two sellers in any posts on this thread, so just wondering where the info comes from and if it is reliable.

 

[Mr Smith]

As this site has the public sharing information it will be tough to verify every transaction and get everyone to post all the information the same way.

The $1/point I believe is before closing costs. For example, I agreed to $7,500 purchase price but still had to pay around $1,000 in closing costs and another $609 to HCVC to transfer the deed to my account. However, the unit I bought is a higher demand unit because it is 7,800 points for a one bedroom, meaning it will have cheaper maintenance fees than a 2 br. If you look long enough you can get a cheaper price on a 7,000 unit with 2 br maintenance fees.

The decision which unit to buy is dependent on how long you plan to keep it, IMHO. The longer you intend to keep it (10+ years) you will pay more in maintenance fees.

 

[dayooper]

I've read back on this thread and it appears that not all sales that are reported on the rofr Experiences are "apples to apples" in that sometimes other fees are added to bring the total price up to a level that passes. For instance one post mentioned that resellers sometimes charge an upfront fee of several thousand dollars and add that on to the sale price so that it has a higher face price to clear rofr, so I'm just trying to understand if these posts can be taken at face value or if there are other factors. It would be nice to see a post that coincides with them but I cannot see these two sellers in any posts on this thread, so just wondering where the info comes from and if it is reliable.

Many of those fees that are added are from postcard or eBay resellers that use the upfront cost sellers pay to bring up the total. A reputable broker doesn’t charge huge upfront fees so they wouldn’t put that in the cost. When you see units passing for a few dollars or a couple of thousand for a desired unit, those probably use upfront fees to make it work.

As stated above, around a dollar a point would get you most units, especially 2 bedroom platinum. Many times, those that are sold at the end of the year may go lower, but $10,000 would be overkill. The more money a broker sells a unit for, the more they put in their bank account. These brokers, while reputable, work for the sellers, so they will try and get as much as they can out of you.

 

[CalGalTraveler]

Be aware that the brokers are representing the seller and their goal is to get top dollar for their client.

 

[GT75]

The agent I am using is well known here and reputable and I am just wondering why I am getting such different stories.

My suggestion is to offer what you are willing (and would be happy with) to pay. I wouldn't let the broker make you offer more. Also, remember that there will be another HGVC TS to purchase, if this one falls through (assuming that you can wait).

 

[Panina]

I see there is a report by DanY on the rofr Experiences page of a 2 bdrm platinum on the Boulevard that passed on 5/6/2019 for $6,900, but I don't see a thread here at all for it. The agent I am going through says that HGVC is exercising above $10,000 for this 2 bdrm Platinum Boulevard unit. Is DanY around and can you confirm, was this just an offer that you had made that never closed or did it in fact pass at $6,900. I also see one from 12/1/2018, same unit reported by "HS" that passed at $6,100. Are these sales confirmed? The agent I am using is well known here and reputable and I am just wondering why I am getting such different stories.

These sales are not confirmed. We all voluntarily add them. Sometimes one can go through at a lower price but be aware the rofr.net prices can reflect different pieces of a price. Some do not include closing costs, some do. Some might have purchased on ebay and report what they pay but that doesn’t include fees that are paid to the lister from the seller. The variables can make the difference.

 

[CherBear]

Dumb question....when it says PASSED does that mean Hilton refused to buy back from the owner??

 

[terces]

Dumb question....when it says PASSED does that mean Hilton refused to buy back from the owner??

That is a possibility I suppose, but on face value it means a buyer and a seller agreed on a purchase / sale price between them and HGVC said "heh I'll take that off our hands now that you have done all the hard work of negotiating a fire sale price"

 

[dayooper]

Dumb question....when it says PASSED does that mean Hilton refused to buy back from the owner??

Yes, HGVC declined to purchase it back. ROFR was not exercised.

Not a dumb question, someone else might

 

[csodjd]

As this site has the public sharing information it will be tough to verify every transaction and get everyone to post all the information the same way.

The $1/point I believe is before closing costs. For example, I agreed to $7,500 purchase price but still had to pay around $1,000 in closing costs and another $609 to HCVC to transfer the deed to my account. However, the unit I bought is a higher demand unit because it is 7,800 points for a one bedroom, meaning it will have cheaper maintenance fees than a 2 br. If you look long enough you can get a cheaper price on a 7,000 unit with 2 br maintenance fees.

The decision which unit to buy is dependent on how long you plan to keep it, IMHO. The longer you intend to keep it (10+ years) you will pay more in maintenance fees.

And also, importantly, whether you plan to use the POINTS or use as your home week. If you're looking largely at Home Week usage, you need to get the room you want, even if that means higher MF. If you're after points than absolutely go with the lower MF.

 

[nobodyhasthisname2]

We offered on a 7000pt annual platinum unit on Paradise on May 3rd. $7500 including this years points without having to reimburse maintenance fees.
Just found out that Hilton waived ROFR today.

I figured it would go through based on the ROFR website, of course the broker “thought it could go either way”.

I am so excited to get access to the website and start planning our next vacation. We usually travel during off peak times, and there’s only two of us so I’m thinking we can make very good use of our points!


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[dayooper]

We offered on a 7000pt annual platinum unit on Paradise on May 3rd. $7500 including this years points without having to reimburse maintenance fees.
Just found out that Hilton waived ROFR today.

I figured it would go through based on the ROFR website, of course the broker “thought it could go either way”.

I am so excited to get access to the website and start planning our next vacation. We usually travel during off peak times, and there’s only two of us so I’m thinking we can make very good use of our points!


Sent from my iPhone using Tapatalk

Congrats! Nice price and great MF’s.

 

[CalGalTraveler]

We offered on a 7000pt annual platinum unit on Paradise on May 3rd. $7500 including this years points without having to reimburse maintenance fees.
Just found out that Hilton waived ROFR today.

I figured it would go through based on the ROFR website, of course the broker “thought it could go either way”.

I am so excited to get access to the website and start planning our next vacation. We usually travel during off peak times, and there’s only two of us so I’m thinking we can make very good use of our points!


Sent from my iPhone using Tapatalk

Congrats on your purchase. Did the buyer or the seller pay the transaction fees?

 

[nobodyhasthisname2]

Congrats on your purchase. Did the buyer or the seller pay the transaction fees?

We paid the transaction fees.


Sent from my iPhone using Tapatalk

 

[terces]

We offered on a 7000pt annual platinum unit on Paradise on May 3rd. $7500 including this years points without having to reimburse maintenance fees.
Just found out that Hilton waived ROFR today.

I figured it would go through based on the ROFR website, of course the broker “thought it could go either way”.

I am so excited to get access to the website and start planning our next vacation. We usually travel during off peak times, and there’s only two of us so I’m thinking we can make very good use of our points!


Sent from my iPhone using Tapatalk

Did you buy it through a broker? is so could you let me know which one?

Also is Paradise an affiliate?

What are the MF's on that unit?

 

[CalGalTraveler]

Did you buy it through a broker? is so could you let me know which one?

Also is Paradise an affiliate?

What are the MF's on that unit?

Paradise is a full HGVC resort and is not an affiliate. "FEPS" Vegas Resorts are desireable because the 7k+ units have a good ratio of MF/point at around $1000 or less.

Flamingo
Elara
Paradise
Strip (blvd)

 

[terces]

We offered on a 7000pt annual platinum unit on Paradise on May 3rd. $7500 including this years points without having to reimburse maintenance fees.
Just found out that Hilton waived ROFR today.

I figured it would go through based on the ROFR website, of course the broker “thought it could go either way”.

I am so excited to get access to the website and start planning our next vacation. We usually travel during off peak times, and there’s only two of us so I’m thinking we can make very good use of our points!


Sent from my iPhone using Tapatalk

Could you let me know where you came across this listing or the name of the broker?

 

[nobodyhasthisname2]

Could you let me know where you came across this listing or the name of the broker?

Yes, I'll message you the info!

 

[DK3]

I was able to close last month on a HGVC on the Boulevard. Gold season 5800 points for $2500. Maintenance fees plus taxes were $878 last year. I also received 2019 points without reimbursing the maintenance fees. It is my 3rd Hilton resale plus an EOY Hyatt and a Sheraton property so I think it is time to stop.

 

[Leadfoot]

We just got notice today that the deed transfer is complete.

Platinum Season 7,000 points annually. Our home resort is Tuscany Village in Orlando. We paid $1,935.00 (purchase price $1,526 plus resort transfer fee $409). Annual maintenance fees are $1,289 (MF + RE Taxes). We do not get to use it until 2020.

Purchase agreement signed on Jun 14. Hilton signed the waiver on Jun 21. Deed transfer completed on July 22.

I did a lot of research before buying and feel like we got a good deal. Our MFs may be a little high, but the purchase price was significantly lower than $1/point. We are excited to start using HGVC. This is our first timeshare. We plan to use the 7,000 points in the Gold weeks for a 1 bedroom, so we should be able to get 2 full weeks out of our purchase. Our son visits a waterski coach in Florida every year, so 2 weeks in Orlando works out great for us.

 

[csodjd]

We just got notice today that the deed transfer is complete.

Platinum Season 7,000 points annually. Our home resort is Tuscany Village in Orlando. We paid $1,935.00 (purchase price $1,526 plus resort transfer fee $409). Annual maintenance fees are $1,289 (MF + RE Taxes). We do not get to use it until 2020.

Purchase agreement signed on Jun 14. Hilton signed the waiver on Jun 21. Deed transfer completed on July 22.

I did a lot of research before buying and feel like we got a good deal. Our MFs may be a little high, but the purchase price was significantly lower than $1/point. We are excited to start using HGVC. This is our first timeshare. We plan to use the 7,000 points in the Gold weeks for a 1 bedroom, so we should be able to get 2 full weeks out of our purchase. Our son visits a waterski coach in Florida every year, so 2 weeks in Orlando works out great for us.

Good buy. That’ll even get you 7-8 days of a 1-bedroom ocean view in Waikiki! Would cost you 10x to buy those same points with that as your home week.

 

[JIMinNC]

We just got notice today that the deed transfer is complete.

Platinum Season 7,000 points annually. Our home resort is Tuscany Village in Orlando. We paid $1,935.00 (purchase price $1,526 plus resort transfer fee $409). Annual maintenance fees are $1,289 (MF + RE Taxes). We do not get to use it until 2020.

Purchase agreement signed on Jun 14. Hilton signed the waiver on Jun 21. Deed transfer completed on July 22.

I did a lot of research before buying and feel like we got a good deal. Our MFs may be a little high, but the purchase price was significantly lower than $1/point. We are excited to start using HGVC. This is our first timeshare. We plan to use the 7,000 points in the Gold weeks for a 1 bedroom, so we should be able to get 2 full weeks out of our purchase. Our son visits a waterski coach in Florida every year, so 2 weeks in Orlando works out great for us.

From where did you buy that? Was it an eBay purchase?

 

[dayooper]

We just got notice today that the deed transfer is complete.

Platinum Season 7,000 points annually. Our home resort is Tuscany Village in Orlando. We paid $1,935.00 (purchase price $1,526 plus resort transfer fee $409). Annual maintenance fees are $1,289 (MF + RE Taxes). We do not get to use it until 2020.

Purchase agreement signed on Jun 14. Hilton signed the waiver on Jun 21. Deed transfer completed on July 22.

I did a lot of research before buying and feel like we got a good deal. Our MFs may be a little high, but the purchase price was significantly lower than $1/point. We are excited to start using HGVC. This is our first timeshare. We plan to use the 7,000 points in the Gold weeks for a 1 bedroom, so we should be able to get 2 full weeks out of our purchase. Our son visits a waterski coach in Florida every year, so 2 weeks in Orlando works out great for us.

Nice deal and the transfer was fast. Who did you use to transfer?

A favor, please enter this into rofr.net

 

[mjm1]

We just got notice today that the deed transfer is complete.

Platinum Season 7,000 points annually. Our home resort is Tuscany Village in Orlando. We paid $1,935.00 (purchase price $1,526 plus resort transfer fee $409). Annual maintenance fees are $1,289 (MF + RE Taxes). We do not get to use it until 2020.

Purchase agreement signed on Jun 14. Hilton signed the waiver on Jun 21. Deed transfer completed on July 22.

I did a lot of research before buying and feel like we got a good deal. Our MFs may be a little high, but the purchase price was significantly lower than $1/point. We are excited to start using HGVC. This is our first timeshare. We plan to use the 7,000 points in the Gold weeks for a 1 bedroom, so we should be able to get 2 full weeks out of our purchase. Our son visits a waterski coach in Florida every year, so 2 weeks in Orlando works out great for us.

Congratulations! That is a fast closing and transfer process.

We recently bought our first HGVC and were told it would likely take 8 weeks. It’s the Flamingo and they don’t even have ROFR. Maybe it will go faster than estimated.

Enjoy!

Best regards.

Mike