ROFR metric / Ongoing ROFR Activity

[bazzap]

Agree. After listening to sales pitch at $13.96 per point, then finding points at $4 or less, we said no. We were told buying in resale will not get you to the next level(President), and will not make you a qualified internal points owner. We are legacy weeks owners with no points. This would be our first purchase of points but not our first weeks purchase on resale mkt - have both. Is this sound right?

No, if stipulated fees are paid, as detailed in the FAQs
https://tugbbs.com/forums/index.php?threads/faq-mvc-destinations-points-program.197346/
then full usage rights will transfer upon a resale to the buyer/new owner of DC Trust Points.

 

[MadMike3]

No, if stipulated fees are paid, as detailed in the FAQs
https://tugbbs.com/forums/index.php?threads/faq-mvc-destinations-points-program.197346/
then full usage rights will transfer upon a resale to the buyer/new owner of DC Trust Points.

I had read that but it was written 4 years ago. Are we sure it’s still true? Any recent experience?

 

[Steve Fatula]

I had read that but it was written 4 years ago. Are we sure it’s still true? Any recent experience?

I bought points resale last year, full rights granted. You will need to learn that timeshare salesmen, well, speak in half truths to be generous. You should be questioning every thing they say. There are many people here who have purchased resale points this year with the same experience. So, it is still true.

 

[taterhed]

"How do you know if they (might) be lying?" (ans: lips moving)

 

[hajjah]

Ok, so should we wait to try and purchase another unit if the ROFR has been exercised? I just got my letter yesterday regarding Grand Chateau. There are other resales in the marketplace for different locations.

 

[Steve Fatula]

If you really want a location and ROFR has been exercised, you can just try again. Logic would say try a little higher price. The stats would seem to say keep trying even at the same price until you succeed since ROFR seems to be exercised almost randomly in some cases.

 

[hajjah]

How do we try again if the resort has decided to take the property back into its inventory? Does this mean that I try to find another resale being sold by someone else? The unit I attempted to buy was on Ebay. Is there a particular place that we should check for Marriotts other than the Marketplace and Ebay? Thanks for your help.
Btw, I think I read somewhere here on TUG that if we've attended a promotion and did not buy, that could be a reason for the ROFR. I attended a promotion in Orlando last month for the first time in 10 years.

 

[TXTortoise]

Redweek, Marriott Rent-Trade-Sell Facebook page, SellMyTimeshareNow, MagicalRealty.com, etc...or the easy answer, determine what you want to buy and a sense of what you think it's worth, then contact one of the better known brokers, tell them what you want and have them find it for you. Some brokers, e.g., Syed at Advantage Vacations will acquire/sell any Marriott, but has Hawaiian expertise, others in Orlando might have a better market sense and inventory for the east coast.

 

[chemteach]

Ok, so should we wait to try and purchase another unit if the ROFR has been exercised? I just got my letter yesterday regarding Grand Chateau. There are other resales in the marketplace for different locations.

which size and what price? Mine passed for $3050 3 bedroom, with current year's use included. It seems the 1 bedroom units get ROFR'ed more than the 2 or 3 bedroom units.

 

[MadMike3]

I bought points resale last year, full rights granted. You will need to learn that timeshare salesmen, well, speak in half truths to be generous. You should be questioning every thing they say. There are many people here who have purchased resale points this year with the same experience. So, it is still true.

Thanks Steve. Don’t own any points now, just two deeded weeks. Purchasing the points will move us from Exec level to Presidentlevel plus make us “hybrid” owner with more availability to sites. You think it will work?

 

[Steve Fatula]

Thanks Steve. Don’t own any points now, just two deeded weeks. Purchasing the points will move us from Exec level to Presidentlevel plus make us “hybrid” owner with more availability to sites. You think it will work?

Yes, it will work. Go for it if you think the benefits are there. Presidential does have some nice perks.

 

[hajjah]

which size and what price? Mine passed for $3050 3 bedroom, with current year's use included. It seems the 1 bedroom units get ROFR'ed more than the 2 or 3 bedroom units.

May I ask which company did you use to buy the unit?

 

[chemteach]

May I ask which company did you use to buy the unit?

It was an ebay purchase. I think I just got lucky on the price - maybe people didn't notice that it came with current year's usage. The 3 bedroom units don't come up very often on ebay, though. The $3050 included all closing costs.

 

[hajjah]

What an awesome deal. I just got back from the resort on Saturday. It is a great place even for those of us who do not gamble.

 

[chemteach]

What an awesome deal. I just got back from the resort on Saturday. It is a great place even for those of us who do not gamble.

I was pretty shocked it went through. (Happily surprised!) I purchased planning to use it for exchanging in II for other Marriott units. Hoping it works for me! Won't know for a year or so...

 

[byebye]

How accurate is Rofr.net? I'm looking at the Aruba Surf Club and noticed the top line which states:
"Aruba Surf Club 3/2/2018 Platinum Plus-President's Day Annual 2BR Ocean View $1,000.00 Passed Alana".
Could a $1000 for this actually pass?

 

[Steve Fatula]

How accurate is Rofr.net? I'm looking at the Aruba Surf Club and noticed the top line which states:
"Aruba Surf Club 3/2/2018 Platinum Plus-President's Day Annual 2BR Ocean View $1,000.00 Passed Alana".
Could a $1000 for this actually pass?

As far as I know, it's not validated in any way. My realtor says it's suspect. However, from experience, I also know that ROFR can be exercised for $3,000 today and not exercised for $1,000 tomorrow. There seems to be no rhyme or reason to when it is exercised in many cases. So, my answer is, it could have passed. But unless you can locate the person who reported it, pretty hard to know 100% for certain. I have posted a few of mine there, and they are accurate.

 

[TXTortoise]

The administrator may have the posters email, even if listing name is anonymous.

He might be able to ping them, since I’m sure he has nothing else to do, but worth the ask.

Given how few people posts, I’m guessing it’s valid.

 

[taterhed]

I'm also pretty sure that some posters are posting the actual 'sales' price as the ROFR. In fact, this could be drastically different than the amount submitted for ROFR with all fees, commissions and any other premiums added.

Of course, this is merely speculation.

 

[MOXJO7282]

How accurate is Rofr.net? I'm looking at the Aruba Surf Club and noticed the top line which states:
"Aruba Surf Club 3/2/2018 Platinum Plus-President's Day Annual 2BR Ocean View $1,000.00 Passed Alana".
Could a $1000 for this actually pass?

Highly unlikely.

 

[Fasttr]

How accurate is Rofr.net? I'm looking at the Aruba Surf Club and noticed the top line which states:
"Aruba Surf Club 3/2/2018 Platinum Plus-President's Day Annual 2BR Ocean View $1,000.00 Passed Alana".
Could a $1000 for this actually pass?

We tend to believe that MVC can't put the Aruba weeks into the DC Trust because the DC is a US Land trust...and Aruba is not US...either that or it has something to do with Aruba being a RTU deed...or both. Usually when MVC ROFR's, they toss that inventory into the Trust. So if they can't do that, it limits what they can do with the week that they ROFR. That may make Aruba one of those locations where you see odd ROFR happenings. Purely speculation of course.

 

[JIMinNC]

We tend to believe that MVC can't put the Aruba weeks into the DC Trust because the DC is a US Land trust...and Aruba is not US...either that or it has something to do with Aruba being a RTU deed...or both. Usually when MVC ROFR's, they toss that inventory into the Trust. So if they can't do that, it limits what they can do with the week that they ROFR. That may make Aruba one of those locations where you see odd ROFR happenings. Purely speculation of course.

I think this is correct. If you read one of the answers from the VAC 1Q earnings call that I posted in the VAC/ILG merger thread - the question was on their view on inventory repurchases at MVC vs ILG - and you can tell from the answer that they don't seem to like repurchasing inventory in a weeks-based model (which I assume Aruba still is due to the Trust limitations you mentioned). They probably only buy back enough to satisfy the demand for weeks sales in the Aruba sales office (which we've heard reported they offer as a backup sale when the prospect has declined a straight points sale). If they think they have enough in inventory, they may be more likely to pass, even on a low price.

 

[dioxide45]

I will look in to the $1000 sale at the Surf Club. I suspect they forgot a digit.

The DC trust is indeed a land trust and can only hold real estate deeds. Since the Surf Club is outside the US, I don't think they can add it. They also haven't added Custom House.

That said, they are selling weeks still in Aruba, so I would think they would snatch up a Platinum Plus Presidents Day week for only $1000.

 

[dioxide45]

I will look in to the $1000 sale at the Surf Club. I suspect they forgot a digit.

The DC trust is indeed a land trust and can only hold real estate deeds. Since the Surf Club is outside the US, I don't think they can add it. They also haven't added Custom House.

That said, they are selling weeks still in Aruba, so I would think they would snatch up a Platinum Plus Presidents Day week for only $1000.

Unfortunately, it doesn't look like the person that left that entry provided their email address. I also checked through all my emails, including junk folder, and I can't find any emails related to this entry. So unless they see this post, we won't know if it is correct or not.

 

[Steve Fatula]

Unfortunately, it doesn't look like the person that left that entry provided their email address. I also checked through all my emails, including junk folder, and I can't find any emails related to this entry. So unless they see this post, we won't know if it is correct or not.

Maybe you can add an optional field, TUG user id? This person may still have not filled it out, but, sometimes, people like me are reluctant to provide an email. I wouldn't mind providing my TUG user id. Just a thought.