ROFR metric / Ongoing ROFR Activity

[Saintsfanfl]

How will you get 60K+ in points? Isn't it 1 point per dollar?

 

[SueDonJ]

I didn't have much to benchmark against but did think it was pretty good so glad to get some confirmation. Also paid via SPG Amex with no fee so will get 60k+ in MAR points. From ebay through Sean S. Hopefully it closes quickly so I can try to get a decent 2017 week somehow.

How will you get 60K+ in points? Isn't it 1 point per dollar?

[Nevermind, I'm confused and will leave it to Joe to answer. ]

 

[sb2313]

How will you get 60K+ in points? Isn't it 1 point per dollar?

I'm assuming he will convert the 20k Starwood to Marriott at 3:1 giving him 60,000 Marriott for his purchase.

 

[Saintsfanfl]

I'm assuming he will convert the 20k Starwood to Marriott at 3:1 giving him 60,000 Marriott for his purchase.

Ahh. Nice. I need to get that card. (just registered)

 

[MOXJO7282]

Yes $19.1k plus $2452 MFs so it should actually be 64,656 points. Shocked they accepted full amount on CC but wasn't going to complain. The SPG card is adding up for crazy points 84k to sign up (25k sign up plus required 3k spend converted to MAR points), the 64k from this purchase and 190k from paying other MFs.

 

[Saintsfanfl]

Yes $19.1k plus $2452 MFs so it should actually be 64,656 points. Shocked they accepted full amount on CC but wasn't going to complain. The SPG card is adding up for crazy points 84k to sign up (25k sign up plus required 3k spend converted to MAR points), the 64k from this purchase and 190k from paying other MFs.

What do you get if you pay Marriott maintenance fees directly with the SPG Amex? Better than the 5 per dollar with the Marriott Visa or still just 1 SPG per dollar?

 

[sb2313]

What do you get if you pay Marriott maintenance fees directly with the SPG Amex? Better than the 5 per dollar with the Marriott Visa or still just 1 SPG per dollar?

Using the SPG card, you do get 2 points per dollar on Marriott charges,which ends up giving you 6 points per dollar instead of 5 using the Marriott card.

 

[NYFLTRAVELER]

With outside purchases of D.C. Points, does the dollar amount cited in your rofr chart include or exclude the $2 per point Marriott "transaction" fee?

 

[jhac007]

Have they been transferred to you yet? If the closing agent did not submit for ROFR then Marriott will probably not accept the transfer. Not saying they wouldn't pass ROFR but it sounds like the closing agent didn't even try and did not pay the ROFR fee. That will be a problem. The transfer department in Lakeland FL is supposed to see the waiver letter before they enter the transfer in the system.

Great points indeed! I sold one of my Ocean Pointe weeks to a nephew and did the closing my self so am very familiar with the Marriott process. Benjamin Timeshares is the agent I am purchasing the CS weeks thru and AFAIK are a decent company. Any/all info about the deal was gotten from them. They are familiar with the Marriott process also. However, I admit this too good to be true deal seems unreal but has processed to the point me getting the certified External Transfer Form (and return was acknowledged) but..... NO .....I have not seen wavier release document. The recorded deed and transfer/wavier fees were paid by the seller (not priviy to what happen there) so if this agent has let this progress to this point without submitting the wavier release then it won't look good on their part (they know better)! Bottom line, Marriott Rgets two great resort weeks for practically free......or I do. Also, if they ROFR then I save on some huge MF's I hadn't planned on (and my $1K returned)!

Jim

 

[Saintsfanfl]

But I thought you wrote that the agent said there was no ROFR at CS. So I thought he wouldn't have submitted so there wouldn't be a waiver letter to include with the transfer. It might just be miscommunication but I am pretty sure there is ROFR at CS.

 

[jhac007]

But I thought you wrote that the agent said there was no ROFR at CS. So I thought he wouldn't have submitted so there wouldn't be a waiver letter to include with the transfer. It might just be miscommunication but I am pretty sure there is ROFR at CS.

Yes I have in writing the the agent said there was no ROFR at CS (my first question to them). However, from the comments I received here I checked myself and there seems to be ROFR. Now why the agent has taken this thing this far without interruption from Marriott puzzles me also! In my experience when you get as far as the External Transfer Form which is looking for transfer/wavier fees enclosed then there should be some stumbling block if process has not been followed. The reason I said I have not seen a wavier is because I have seen every other document needed and I am in agreement with any/all that CS has ROFR. I have not heard from the agent since they received Marriott's ETF from me and had sent them a note casually asking how things were going, but it is the holidays so I will hear from them until maybe Tue. We started this process on Nov. 7th and one would think any ROFR activity (yes or no) should have been completed. Go figure!

Jim

 

[thinze3]

I think what you're saying in 1) is that the buyer has already paid the $3450 to the Broker and the Broker will also keep the $1500, for a total net to the Broker of $4950. I could see where it might work that way, if the seller paid a disposal fee up front and now the Broker is just getting what he can in addition for the total take of $4950.

But in case 2), it would make sense that the intent of ROFR is that Marriott would pay the exact same price as the Buyer, or $1500. So your math makes sense in that regard. But the language thinze3 posted was:



So that sounds like Marriott is paying the Commission to the Broker as part of the transaction, not just the $1500 price. If the Seller had already paid the $3450 upfront, why would Marriott need to pay it again? That's what is confusing to me. If Marriott has to pay the $3450 again, then the Broker would be double-dipping and would net $8400. I would think that would definitely be unethical.

UPDATE on winning 1500 DC points for $1576 on eBay last October: The copy of the ROFR from Marriott simply stated they were exercising their right at a price of $4500. ?!.?!. This amount has never been mentioned or written before. I think it's an insight to how these brokerages operate.

 

[Saintsfanfl]

UPDATE on winning 1500 DC points for $1576 on eBay last October: The copy of the ROFR from Marriott simply stated they were exercising their right at a price of $4500. ?!.?!. This amount has never been mentioned or written before. I think it's an insight to how these brokerages operate.

Yep. This way the real seller get's the $4,500 which basically reimburses them for what they paid up front plus additional for the sale and the broker gets to keep their "commission". I don't have a problem with this method in principal but what I don't like is the way some brokers don't let the buyer or seller know what is being submitted for ROFR. Sometimes they literally take a signature page that the buyer signed and add it to the purchase agreement that the buyer has never seen. They essentially have two purchase agreements, one for the buyer and a different one for Marriott ROFR (but with the same signature). I usually let them know up front that I realize they may submit a higher amount due to other fees and I am ok with it.

That said I have never known about any amounts like this example where the amount submitted for ROFR is 300% of the purchase price, but then again I have never contracted to buy points.

 

[dioxide45]

UPDATE on winning 1500 DC points for $1576 on eBay last October: The copy of the ROFR from Marriott simply stated they were exercising their right at a price of $4500. ?!.?!. This amount has never been mentioned or written before. I think it's an insight to how these brokerages operate.

That is $3 a point and way below the current levels being reported as passing. Would you mind adding this to www.ROFR.net?

 

[5infam]

Just passed ROFR on a Maui Ocean Club, original towers, 2 bedroom, EOYE, Ocean Front for $10,750. I have struggled to get a second unit through to close because of seller issues each time, but this one looks clean and quickly made it past ROFR. Its a little more than I wanted to pay for an Ocean Front, but we needed an EOYE, so it works for us. Can't wait to close now so I can book my 2 weeks at 13 months for 2018.

 

[GregT]

All,

I just passed ROFR on 2,000 Trust Points for $4,494, which includes closings (but not the Marriott junk fees). Including those junk fees, the total price will be closer to $8,500.

I was surprised to see this pass and will be curious to see if we see further incidence of lower prices. I will put in ROFR database.

Best,

Greg

 

[5infam]

All,

I just passed ROFR on 2,000 Trust Points for $4,494, which includes closings (but not the Marriott junk fees). Including those junk fees, the total price will be closer to $8,000.

I was surprised to see this pass and will be curious to see if we see further incidence of lower prices. I will put in ROFR database.

Best,

Greg

Congratulations - that seems like a great deal!

 

[frank808]

$2.25 is a new low. Sheesh i remember just a little while ago under $5 would not pass.

Might be looking at some trust points when it's $3 a point with junk fees. Pretty close as greg is at about $4 a point.

Nice score greg. If you don't mind me asking was this on ebay?

Sent from my SM-N910P using Tapatalk

 

[dioxide45]

All,

I just passed ROFR on 2,000 Trust Points for $4,494, which includes closings (but not the Marriott junk fees). Including those junk fees, the total price will be closer to $8,500.

I was surprised to see this pass and will be curious to see if we see further incidence of lower prices. I will put in ROFR database.

Best,

Greg

Congrats Greg. Great price! Though I thought you were going to sell the package of points you previously bought after your MM1 experiment didn't work? Do you still have those? Are you back in to acquisition mode?

 

[dioxide45]

$2.25 is a new low. Sheesh i remember just a little while ago under $5 would not pass.

Might be looking at some trust points when it's $3 a point with junk fees. Pretty close as greg is at about $4 a point.

Nice score greg. If you don't mind me asking was this on ebay?

Sent from my SM-N910P using Tapatalk

The minimum with junk fees that you could get would be $2.10. That is if you already own some points and don't have to pay the $300 Owner Education Fee. The transfer cost is $25 per BI. So $0.10 per point on top of the $2 initiation fee. There is also a $95 ROFR fee. You would have to be well below $1 per point before the fees in order to get in at $3 per point all in.

 

[frank808]

I am willing to wait . Have no pressing need to get points right now. With hgvc, dvc and marriott weeks i am in no rush.

Getting points is more of a convenience. I have a week that can be enrolled but am better off using it as a trader. I will just keep renting at 54 cents a point for the future.

Sent from my SM-N910P using Tapatalk

 

[dioxide45]

I think the Marriott's junk fees will keep me out of the game forever. Minimum $3000 is 15 times more than I paid for our last non Marriott timeshare purchase. If trading in II got so bad that it was unusable, I would probably sell our two weeks before I bought points. While we paid $7500 for our first week in 2007, I simply can't see paying anything close to that ever again. Too many other options that I have been finding.

 

[GregT]

Congrats Greg. Great price! Though I thought you were going to sell the package of points you previously bought after your MM1 experiment didn't work? Do you still have those? Are you back in to acquisition mode?

Yes, I did sell my other points as part of buying the new MOC weeks. I was surprised this cleared ROFR because the price was so low, but Marriott appears more hit and miss these days. I'm sort of in acquisition mode, but only specific properties. I've noticed the last few attempted reservations at Ritz St. Thomas all required Trust Points, and I like that property, so that was the excuse used to buy these. I don't expect to buy more as 2,000 is the right size wedge for STT.

These were an ebay purchase and I put the bid in and let it ride, I didnt try to snipe.

Who knows what will come next? But interesting to see such a low price pass.

Best,

Greg

 

[mjm1]

Yes, I did sell my other points as part of buying the new MOC weeks. I was surprised this cleared ROFR because the price was so low, but Marriott appears more hit and miss these days. I'm sort of in acquisition mode, but only specific properties. I've noticed the last few attempted reservations at Ritz St. Thomas all required Trust Points, and I like that property, so that was the excuse used to buy these. I don't expect to buy more as 2,000 is the right size wedge for STT.

These were an ebay purchase and I put the bid in and let it ride, I didnt try to snipe.

Who knows what will come next? But interesting to see such a low price pass.

Best,

Greg

Greg, congratulations on a great deal. I would never have thought that would pass.

Mike

 

[JIMinNC]

All,

I just passed ROFR on 2,000 Trust Points for $4,494, which includes closings (but not the Marriott junk fees). Including those junk fees, the total price will be closer to $8,500.

I was surprised to see this pass and will be curious to see if we see further incidence of lower prices. I will put in ROFR database.

Best,

Greg

It will indeed be interesting to see if this represents a trend, or is just a one-off fluke.

Have you seen the ROFR submittal letter? I know there have been some instances reported where eBay brokers would fold the upfront fee paid by the seller into the submittal to Marriott. So if this transaction included a big upfront fee paid by the seller, maybe the price submitted to Marriott was higher than $2.25?