ROFR Marriott

[hittj5]

Hi All I have a question regarding ROFR. I have a buyer for my timeshare but they have told me that they have attempted to purchase a timeshare at the property where I am selling and Marriott has exercised their ROFR. I was planning on using LT transfers. When does Marriott exercise the ROFR? After I have paid LT for their services? Or before the transfer process? I am new to this and just want to know ahead of time how much money I can expect to pay to LT transfers if any if Marriott exercises their ROFR? I just want to go into this knowing how much money may be lost.
Thanks so much for any advice you all can offer!

 

[dioxide45]

LT Transfers will submit the request for ROFR to Marriott after they have been paid a small deposit. If Marriott takes the week back, Marriott will still be paying you the purchase price. You would be out the deposit paid to LT. I am not aware that they refund this amount, perhaps others that have been through this exact scenario could confirm.

 

[hittj5]

LT Transfers will submit the request for ROFR to Marriott after they have been paid a small deposit. If Marriott takes the week back, Marriott will still be paying you the purchase price. You would be out the deposit paid to LT. I am not aware that they refund this amount, perhaps others that have been through this exact scenario could confirm.

Thanks for the reply. I did email with LT and they said there is a $195 fee to request the ROFR from Marriott and $100 of that fee is non-refundable. I will check into making the request myself rather than lose the $100. Thanks for the help!

 

[dioxide45]

Thanks for the reply. I did email with LT and they said there is a $195 fee to request the ROFR from Marriott and $100 of that fee is non-refundable. I will check into making the request myself rather than lose the $100. Thanks for the help!

Yeah, I forgot about the ROFR waiver fee. That fee is $95 but only paid if Marriott waives ROFR. I suspect the $100 is the deposit paid up front to LT and thus why it is non-refundable.

 

[hittj5]

Yeah, I forgot about the ROFR waiver fee. That fee is $95 but only paid if Marriott waives ROFR. I suspect the $100 is the deposit paid up front to LT and thus why it is non-refundable.

Some old threads on here discuss contacting Marriott to obtain a form for ROFR to fill out and send to Marriott to find out if they will exercise their ROFR. They suggested attaching the contract of sale and purchase to the email sent to Marriott and wait for Marriott's reply. I need to find the correct email for Marriott to get the form since the threads are pretty old. Thanks so much for your replies!

 

[ForThePoints27]

Yeah, I forgot about the ROFR waiver fee. That fee is $95 but only paid if Marriott waives ROFR. I suspect the $100 is the deposit paid up front to LT and thus why it is non-refundable.

Yes this is how the LT contract is worded. Honestly a fair fee for LT's time.

OP - you'd still get the purchase price, just via Marriott not your buyer. So purchase price - $100 is net to you in this case.