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ROFR Exercised/Passed

Just received official notification that we passed ROFR at $6,500 for a 7000 point platinum 2BR at HGVC at SeaWorld. First use is 2018. The ROFR waiver was dated 12/18/2017. I have entered into the rofr.net database.

That's $0.93 per point purchase price. Maintenance fees and taxes for 2018 total $1115.16, or just under $0.16 per point.

This is our first HGVC and will supplement our Marriott ownership. Looking forward to seeing where HGVC will take us in 2018 and beyond.
 
JIMinNC said:
Just received official notification that we passed ROFR at $6,500 for a 7000 point platinum 2BR at HGVC at SeaWorld. First use is 2018. The ROFR waiver was dated 12/18/2017. I have entered into the rofr.net database.
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Congratulations. What will be the 2018 HGVC club enrollment activation fee for this purchase? We have noticed only one fee of $366 (in 2017 we had a fee of $349 for direct purchase and $560 for resale purchase) in addition to the ownership change fee of $399.
 
GT75 said:
Congratulations. What will be the 2018 HGVC club enrollment activation fee for this purchase? We have noticed only one fee of $366 (in 2017 we had a fee of $349 for direct purchase and $560 for resale purchase) in addition to the ownership change fee of $399.
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The closing documents from the closing company show the $560 club activation fee and the $399 transfer fee. The estoppel from HGVC also listed the $560 fee to be paid by buyer.
 
JIMinNC said:
The estoppel from HGVC also listed the $560 fee to be paid by buyer.
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I looked an estoppel from my last purchase and only the buyer paid the Club Activation Fee.
 
GT75 said:
I looked an estoppel from my last purchase and only the buyer paid the Club Activation Fee.
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That's what I meant. The $560 shows up on the estoppel from HGVC and is paid by the buyer when invoiced from HGVC after closing. The $399 transfer fee is part of the funds due from buyer and is paid at closing.
 
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Keyur said:
Does anyone know about the Craigendarroch Lodges (Scotland) property asking price for a 2Bed Platinum 7000pts every year? How much should be the ideal deal so that HGVC doesnt exercise ROFR?

Great work everyone and the posts are very helpful for newbies like me.
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HGVC there sells resale units so no ROFR as the units are sold by HGVC. As a bonus, this means they count towards elite status.
 
So Hilton rofr'ed my W57th 5250 purchase yesterday. Purchase price excluding costs: $12.000
 
Hilton ROFRed my $800 for 1BR Platinum I-Drive 4800 points (with no points until 2019, but 2018 fees were paid). My broker said they are very aggressive lately. I was also told they also ROFRed (via another client) another one I was looking at, $500 for Hokulani 1BR Platinum EOY Even, 6200 points.

Neither was a big surprise although not having 2018 points for I-Drive, we thought there was at least a chance. By the way, the ROFR came within 18 hours of submission. I assume the other one was just as quick since it was still listed.
 
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I updated mine. Didn't feel appropriate updating the other guys. It was just a comment from my broker.

I knew it had a slim chance but man, I just had that lucky feeling today! Oh well!
 
At least they didn't drag it out for 30 days!
 
My 6200 platinum points for Hokulani posted today to my HGVC account. It is an EOY even year contract with a purchase price of $500. I entered it in the data base. The ROFR waiver was signed on 12/18/17.
 
DK3 said:
My 6200 platinum points for Hokulani posted today to my HGVC account. It is an EOY even year contract with a purchase price of $500. I entered it in the data base. The ROFR waiver was signed on 12/18/17.
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Congrats that’s a very nice price. I assume it’s a 1br how much is the annual MF excluding club dues?
 
Cyberc said:
Congrats that’s a very nice price. I assume it’s a 1br how much is the annual MF excluding club dues?
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$1215 with maintenance fees and taxes. The resort transfer fee was $399 but all of the new listings I see for this resort are $959 or higher. It is an every other year contract which is my second every other year contract so I paid the fees twice for closing and resort transfer, but both had low purchase prices. I bought an EOY odd year at Kingsland for $2000 earlier in 2017, also a 1 bedroom with 6200 points. If I buy another resale, it will be annual and one with lower maintenance fees.
 
DK3 said:
$1215 with maintenance fees and taxes. The resort transfer fee was $399 but all of the new listings I see for this resort are $959 or higher. It is an every other year contract which is my second every other year contract so I paid the fees twice for closing and resort transfer, but both had low purchase prices. I bought an EOY odd year at Kingsland for $2000 earlier in 2017, also a 1 bedroom with 6200 points. If I buy another resale, it will be annual and one with lower maintenance fees.
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Where or whom did you go through for your purchases?
 
Can someone explain ROFR that is referenced in this section? Thanks!!
 
JCB said:
Can someone explain ROFR that is referenced in this section? Thanks!!
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What is "Right of First Refusal"?
ROFR is a clause in your timeshare contract that states that the company that sold you the timeshare has the right to get it back under certain conditions.

If you enter into an agreement to sell that timeshare to a third party (Buyer X), then the company has the "right of first refusal" on that contract. That means they get to accept or refuse that agreement first, before the deal with Buyer X can go through.

  • If the company wants your timeshare, then they exercise their Right of First Refusal, and they become the buyer. You still end up selling at the agreed price, except that you're selling it back to the company. The deal with Buyer X is dissolved, and they get back whatever they've paid.

  • If the company doesn't want your timeshare at the price you agreed with Buyer X, then they refuse it. Your sale to Buyer X passes the Right of First Refusal, and that deal goes through.
 
taterhed said:
What is "Right of First Refusal"?
ROFR is a clause in your timeshare contract that states that the company that sold you the timeshare has the right to get it back under certain conditions.

If you enter into an agreement to sell that timeshare to a third party (Buyer X), then the company has the "right of first refusal" on that contract. That means they get to accept or refuse that agreement first, before the deal with Buyer X can go through.

  • If the company wants your timeshare, then they exercise their Right of First Refusal, and they become the buyer. You still end up selling at the agreed price, except that you're selling it back to the company. The deal with Buyer X is dissolved, and they get back whatever they've paid.

  • If the company doesn't want your timeshare at the price you agreed with Buyer X, then they refuse it. Your sale to Buyer X passes the Right of First Refusal, and that deal goes through.
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Got it! Thanks!
 
Cyberc said:
So Hilton rofr'ed my W57th 5250 purchase yesterday. Purchase price excluding costs: $12.000
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Not surprising. They ROFR'd our $15,000 attempt at the same package last fall. Had to pay $20,000 to get it to go through
 
Quick question since I'm attempting to buy an HGV ts (Thanks Judy)... how long on average does Hilton take to respond? I know it's up to 30 days... but what is the average? Anyway - maybe I'll start my own thread...
 
JustinT said:
Quick question since I'm attempting to buy an HGV ts (Thanks Judy)... how long on average does Hilton take to respond? I know it's up to 30 days... but what is the average? Anyway - maybe I'll start my own thread...
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It really depends sometimes hgvc takes all the time they can get. Other times they are quicker. IIRC my last took approx 3weeks before hgvc took it.

As a rule of thumb if you want a higher possibility to pass rofr then you should buy closer to EOY. Normally hgvc rofr budget has been used up by then.

I’m currently in rofr with another NYC purchase and so far Its been a little less than 2 weeks and counting.

Ideally it really doesn’t matter how long they take but I understand that you as a buyer want clarity as soon as possible.
 
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