ROFR metric / Ongoing ROFR Activity

[Wahoo]

Purchasing 2 Summit Watch platinum weeks at $10k each (from 2 different sellers) and both passed ROFR this week. Total turnaround time to hear back from Marriott once the waiver request was submitted was only 6 days (Friday -> Thursday).

 

[brianfox]

Just an FYI for anyone using www.rofr.net to search or add Marriott ROFR entries. We have added Hilton and Disney to the website. So you will first have to select which company you are searching for records or when you start to add a new entry.

dioxide, It looks like the database entry system is not clear at least for Disney users. One person put price per point and the other total purchase for all points. Might want to update instructions to clarify

 

[littlestar]

I just went in and added my DVC that failed ROFR back in March - I was the seller and Disney bought it from the buyer. Thanks for putting those up.

So your Disney Boardwalk failed at $90 a point. Did it have banked points? I would have figured it would have passed at that price.

 

[littlestar]

dioxide, It looks like the database entry system is not clear at least for Disney users. One person put price per point and the other total purchase for all points. Might want to update instructions to clarify

I put price per point because that is how the Disney sites I follow measure resale DVC contracts. They also list the point status. Example on a 50 point contract: 0/2017, 50/2018, 50/2019. Disney purchased direct is also advertised priced per point.

 

[5infam]

So your Disney Boardwalk failed at $90 a point. Did it have banked points? I would have figured it would have passed at that price.

No it did not. Apparently it was the 3rd time that the buyer had DVC take a contract from them. I felt bad for them but nothing I could do.

 

[littlestar]

No it did not. Apparently it was the 3rd time that the buyer had DVC take a contract from them. I felt bad for them but nothing I could do.

Oh, wow. I checked the ROFR base on a couple sites I follow and they had some Disney Boardwalk's that passed in the upper 80's. Makes you wonder if Disney needed a certain use year for a wait list or something. Sometimes there is no rhyme or reason to ROFR, though.

I was surprised that my platinum 2 bedroom EOY Marriott Grande Vista passed at $1,000 earlier this year. But really happy that it did.

 

[dioxide45]

dioxide, It looks like the database entry system is not clear at least for Disney users. One person put price per point and the other total purchase for all points. Might want to update instructions to clarify

I saw the two different entries. There is a note below the Sales Price field on the Add Experience form that indicates "If ROFR is for Points, enter the contract price per point." I will fix the entry of @5infam to show $90.

 

[Saintsfanfl]

Oh, wow. I checked the ROFR base on a couple sites I follow and they had some Disney Boardwalk's that passed in the upper 80's. Makes you wonder if Disney needed a certain use year for a wait list or something. Sometimes there is no rhyme or reason to ROFR, though.

I was surprised that my platinum 2 bedroom EOY Marriott Grande Vista passed at $1,000 earlier this year. But really happy that it did.

Marriott does not like exercising on EOY weeks. They have done it but the threshold is lower than 1/2 of the annual. The closing costs are the same. The resale department recently discontinued brokering any EOY units regardless of the property and while the resales and ROFR's are separate the logic is the same. EOY weeks have less value due to the closing costs being the same as an annual.

 

[5infam]

I saw the two different entries. There is a note below the Sales Price field on the Add Experience form that indicates "If ROFR is for Points, enter the contract price per point." I will fix the entry of @5infam to show $90.

Sorry - but thanks for fixing it

 

[brianfox]

Just passed ROFR on a third Marriott Waiohai annual island view week @ $5000
The first two were @ $5500 a month ago.

Wonder how low it can go....I won't be the one to find out because I am definitely done buying.

 

[Hankmoon]

I am a newbie. Can someone explain what it means when Marriott exercises their Right of First Refusal? Does this mean they are buying back the TS from the owner? If so, at what price do they buy it back?

 

[suzannesimon]

They buy it back at the price on the contract that a buyer offered you.

 

[SueDonJ]

I am a newbie. Can someone explain what it means when Marriott exercises their Right of First Refusal? Does this mean they are buying back the TS from the owner? If so, at what price do they buy it back?

Right of First Refusal kicks in after an owner finds a buyer. An ROFR waiver form must be submitted prior to closing, at which point Marriott has the right to purchase at the same price as accepted by the seller.

If you're thinking about selling Marriott Resales Operations accepts some Weeks for its buyback/brokering program. There's no guarantee that any/all Weeks will be accepted, and no guarantee that what they accept at one point will be accepted at another. But it's worth a shot, and some actually earn higher returns via that route than on the external resale market.

Complete the required fields at that link to submit an email request for further info; they generally respond within a few days. You can also use the number on that page to call in but the email submission is easier.

 

[TXTortoise]

If anyone on here purchased the 3BR MOC Napili Fixed Weeks 8 and 9, listed on Redweek at $60K each, please considering posting the passing ROFR number on here and ROFR.net. Feel free to post Anonymously, but include your email for the admin.
I believe those were 5th floor 3BR.

https://www.redweek.com/resort/P579...ype=resales&view=Oceanfront&sort-resales=week

These are the first weeks I've seen sold in prime winter season and at a price that is somewhat more realistic than the all the other high-priced weeks that have been listed for Lahaina and Napili and haven't moved in 9-12 months.

 

[dagger1]

Just passed Marriott ROFR on a MKO 2/2 EOYO Ocean View @$4,000 (plus $850 closing/transfer costs).

 

[5infam]

Just passed Marriott ROFR on a MKO 2/2 EOYO Ocean View @$4,000 (plus $850 closing/transfer costs).

Nice one - congratulations!

 

[dagger1]

Nice one - congratulations!

Thanks. I will be interested to see how long the closing/transfer takes.

 

[mjm1]

Just passed Marriott ROFR on a MKO 2/2 EOYO Ocean View @$4,000 (plus $850 closing/transfer costs).

Congratulations! That's a nice price too. Have a great time with your trips there. We love the resort.

Best regards.

Mike

 

[dagger1]

Congratulations! That's a nice price too. Have a great time with your trips there. We love the resort.

Best regards.

Mike

Thanks mjm1, I have been looking for over year and finally realized I could look forever. We have always stayed over in Kailua, and either Hale Koa or HHV in Honolulu and never at MKO before. We are looking forward to being Marriott owners.

 

[frank808]

Just passed Marriott ROFR on a MKO 2/2 EOYO Ocean View @$4,000 (plus $850 closing/transfer costs).

Just wondering who is paying the maintenance fee for 2018? Thanks

Sent from my SM-T217S using Tapatalk

 

[dagger1]

Just wondering who is paying the maintenance fee for 2018? Thanks

Sent from my SM-T217S using Tapatalk

frank, we will be paying the upcoming MF in December, which I assume is the 2018 fee. The estoppel which came with the Marriott ROFR waiver should the 2017 box checked and the 2018 box with N/A in it. But we probably won't close and then be transferred for at least 30-60 days, so we don't expect first use until 2019.

 

[suzannesimon]

frank, we will be paying the upcoming MF in December, which I assume is the 2018 fee. The estoppel which came with the Marriott ROFR waiver should the 2017 box checked and the 2018 box with N/A in it. But we probably won't close and then be transferred for at least 30-60 days, so we don't expect first use until 2019.

You should get the seller to reserve a 2018 week for you and then it can transfer to you after closing.

 

[sb2313]

You should get the seller to reserve a 2018 week for you and then it can transfer to you after closing.

Not really possible on an every other year odd usage.

 

[sb2313]

frank, we will be paying the upcoming MF in December, which I assume is the 2018 fee. The estoppel which came with the Marriott ROFR waiver should the 2017 box checked and the 2018 box with N/A in it. But we probably won't close and then be transferred for at least 30-60 days, so we don't expect first use until 2019.

Is 2017 usage still available? If so, contact Marriott after it transfers and you can request a replacement week interval deposit. They'll say it's not guaranteed, but I haven't heard of a time when it was denied. You are technically paying for half of 2017 usage since you're paying 2018 fees, but really nothing to worry about with the fantastic price you got on the week!

 

[dagger1]

Is 2017 usage still available? If so, contact Marriott after it transfers and you can request a replacement week interval deposit. They'll say it's not guaranteed, but I haven't heard of a time when it was denied. You are technically paying for half of 2017 usage since you're paying 2018 fees, but really nothing to worry about with the fantastic price you got on the week!

On the estoppel request form sent to Marriott, one of the boxes checked (asking for a response from Marriott) was: "Which years are open for usage".
There were 2 boxes (filled in by Marriott): Current YR - 2017 YES and Upcoming YR - 2018 N/A. I will check with Marriott when closed/transferred in 45-60 days, but we are happy with 2019 usage, that was the reason for the good price. Thanks for the advice!!