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This can always be found at www.vacationpointexchange.com by clicking on Marriott MF's in the top menu bar as TUGger StevenTing maintains the data and houses it there.
This can always be found at www.vacationpointexchange.com by clicking on Marriott MF's in the top menu bar as TUGger StevenTing maintains the data and houses it there.
Using some of the theories on this thread, we restructured my purchase offer on a Marriott Ko Olina oceanview week to provide occupancy to begin in 2020 with a reservation for me in 2019 (and my agreement to pay the 2019 MFs) and they still exercised ROFR. I had hoped where they did not have usage in 2019, they would pass on the purchase but they did not.
Marriott would take the contract exactly as written. I don't understand how this would have any more likelihood of passing. Marriott takes it and pays the 2019 MF and gets 2019 usage. It seems you tried to structure it like the seller kept usage but you paid the MF? I don't quite understand.
Marriott would take the contract exactly as written. I don't understand how this would have any more likelihood of passing. Marriott takes it and pays the 2019 MF and gets 2019 usage. It seems you tried to structure it like the seller kept usage but you paid the MF? I don't quite understand.
The reservation was set up for us by the seller for 2019 after we signed the first contract. We had asked them to secure a summer week for us since the window for summmer 2019 is now open. Marriott told the broker they were exercising and wanted the broker to cancel the reservation.
She came back to me and recommended a new contract be submitted with changes. In the second contract, the broker changed usage to 2020 and put in this as additional terms: “Buyer is responsible for the 2019 maintenance fee in the approximate amount of $2,210.24. Buyer will receive use of the 2019 reservation for the dates of June 22nd – June 29th, 2019.”
I guess the hope was that with usage already booked for 2019 in terms of an actual reservation made, they might decide to pass on it. My question now is what happens to our reservation? Will they honor it or will they simply cancel?
I'm taking any advice that is out there in terms of structuring the contract to lower my out of pocket costs while inflating the total saleprice/cost price to Marriott.
Worth noting that GRC quarters have usage each month so there could be some wiggle room there I guess, bundling the MF fr the remainder of the year as part of the sales price?
I'm taking any advice that is out there in terms of structuring the contract to lower my out of pocket costs while inflating the total saleprice/cost price to Marriott.
Worth noting that GRC quarters have usage each month so there could be some wiggle room there I guess, bundling the MF fr the remainder of the year as part of the sales price?
The reservation was set up for us by the seller for 2019 after we signed the first contract. We had asked them to secure a summer week for us since the window for summer 2019 is now open. Marriott told the broker they were exercising and wanted the broker to cancel the reservation.
She came back to me and recommended a new contract be submitted with changes. In the second contract, the broker changed usage to 2020 and put in this as additional terms: “Buyer is responsible for the 2019 maintenance fee in the approximate amount of $2,210.24. Buyer will receive use of the 2019 reservation for the dates of June 22nd – June 29th, 2019.”
I guess the hope was that with usage already booked for 2019 in terms of an actual reservation made, they might decide to pass on it. My question now is what happens to our reservation? Will they honor it or will they simply cancel?
Yeah, so that would not help ROFR. Marriott is now the buyer and has full rights to 2019 usage
Marriott has every right to assume the contract as 'buyer' and take the 2019 reservation. I thought you might have structured the contract for first use 2020 and raised the contract price by 2019 MF's. That would require the seller to book the unit and pre-pay the 2019 MF's. The seller would retain control of 2019 reservation and occupancy/rental rights. As such, if you wished to occupy the 2019 reservation, you would require a separate agreement outside of the MKO resale contract to secure your rental/occupancy rights for 2019 use. The price for this rental would be as-agreed by you and the owner (ne seller). Of course, this enters into a grey area of 'agreements external to the contract' attempting to thwart Marriott's legal right of first refusal. Perhaps you should just sign a 'cheap' rental contract and then buy a unit with 2020 use. Or, line 'em up and bump the price $250-500 each time. It'll pass. Especially in Dec-Feb. I'm pretty sure you can make MKO reservations 6 mos out...with just a bit of flexibility. Lot's of units there. Others can provide advice.
No, I do not wish to have a discussion of ethics and laws related to ROFR and rental/real property contracts.
I don't know if this is the right way to post this information. My offer for Marriott Maui Ocean Club, EOY, Ocean View, 1-Bedroom, 1-Bath failed for $3850. The 2018 week was not booked but I would have been responsible for the fees. Closing to be paid by seller. They exercised the ROFR on Friday, August 17th.
I don't know if this is the right way to post this information. My offer for Marriott Maui Ocean Club, EOY, Ocean View, 1-Bedroom, 1-Bath failed for $3850. The 2018 week was not booked but I would have been responsible for the fees. Closing to be paid by seller. They exercised the ROFR on Friday, August 17th.
Dies increasing the price by the 2019 MFs and stating in the contract that the seller will pay 2019 MFs but that the buyer will get 2019 usage make any difference to the ROFR calculation or would Marriott simply be happy to step into the shoes of the buyer?
Dies increasing the price by the 2019 MFs and stating in the contract that the seller will pay 2019 MFs but that the buyer will get 2019 usage make any difference to the ROFR calculation or would Marriott simply be happy to step into the shoes of the buyer?
Honestly. I don’t think it matters to them at all. They are all out buying everything back regardless of price. I don’t think by being creative on use MF’s really matters to them. They want the deeds back to resell at higher costs.
Honestly. I don’t think it matters to them at all. They are all out buying everything back regardless of price. I don’t think by being creative on use MF’s really matters to them. They want the deeds back to resell at higher costs.
I'll post on rofr.net too, but I just had ROFR WAIVED on a Gold Marriott Grande Ocean week for $4450. They ROFRed the one I tried buying a few weeks ago so I was excited to see it waived.
That's too bad. I know you were hoping to get that great deal. But each of those units adds 7475 points to the Trust, and at $20K each, that's only $2.68/point inventory cost for MVC and they can then turn around and sell those same points at $11+ after discounts. That $9 margin can cover a lot of "overhead."
Wow, that is a good unit (I think that is Emmy’s unit) and I’m sure you had great fixed weeks picked out. I’m sorry to hear it and that would have been an amazing price. Good luck and I hope you get another set!
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