ROFR metric / Ongoing ROFR Activity

[capjak]

What resort?

 

[qlaval]

What resort?

Aruba Ocean Club

 

[DaveGerm]

MOC - 1bd every year OF $6500 with 2020(with MF to be paid) use waived by Marriott!!

 

[TXTortoise]

MOC - 1bd every year OF $6500 with 2020(with MF to be paid) use waived by Marriott!!

Excellent. Was that direct with seller or broker involved?

 

[DaveGerm]

Excellent. Was that direct with seller or broker involved?

Redweek broker

 

[qlaval]

MOC - 1bd every year OF $6500 with 2020(with MF to be paid) use waived by Marriott!!

Congrats Dave!
Considering that an Oceanview in February was bought back by Marriott at $9,000...
May I ask the date when the ROFR was submitted?

 

[DaveGerm]

Congrats Dave!
Considering that an Oceanview in February was bought back by Marriott at $9,000...
May I ask the date when the ROFR was submitted?

Closing company sent it to Marriott after Apr 17 and they replied on May 5th.

 

[qlaval]

Aruba Ocean Club Gold, 1BR Oceanfront $3,000, Marriott waived ROFR today. (with First Year Usage only for 2021...)

 

[Wahoo]

Just received notice that Marriott waived ROFR on my Ocean Pointe oceanfront 2BR platinum purchase at $9,000. I'm happy with the purchase price, especially since Marriott exercised its ROFR less than a year ago when I was selling a 2BR oceanside unit for about the same price. I effectively "traded up" view categories for free. The ROFR landscape has definitely changed compared to pre-Covid.

The waiver request was just submitted on Monday, so 4-day turnaround time.

Will add to ROFR.net shortly.

 

[CDD]

Marriott just waived a MOC - 1 bd OV bi-annual for $2600!

 

[TXTortoise]

Marriott just waived a MOC - 1 bd OV bi-annual for $2600!

Don't forget to add to ROFR.net

 

[qlaval]

Just notice 2 ROFR activities by Marriott...?

On June 18 and on the 22th.
One at SurfWatch for $16,100.00 and one at Ocean Pointe at Palm Beach Shores for $21,850.00.
Strange as I thought they weren't buying anything?....

 

[samara64]

For some reason, I do not feel these are legit.

 

[GregT]

Just notice 2 ROFR activities by Marriott...?

On June 18 and on the 22th.
One at SurfWatch for $21,850.00 and one at Ocean Pointe at Palm Beach Shores for $21,850.00.
Strange as I thought they weren't buying anything?....

I think that's really strange -- those seem much too high for a ROFR exercise.

Best,

Greg

 

[Fasttr]

I think that's really strange -- those seem much too high for a ROFR exercise.

Best,

Greg

The Surfwatch price mentioned above is not as reported on ROFR.net, but I agree, seem high anyhow. One of them was reported by East Clintwood if that does anything to your smell test meter.

 

[dioxide45]

Is some cleanup necessary on ROFR.net?

 

[Shaun]

[Post removed. Ads not permitted in public posts to discusion forums. For instructions on sending private messages, see https://tugbbs.com/forums/threads/how-to-send-a-private-message-to-another-tugbbs-user.259811/]

 

[6scoops]

Early July, Two Ocean Front, Gold season, units at MVO, $2,000.00 each, did not pass FROR....:-(

 

[TXTortoise]

Early July, Two Ocean Front, Gold season, units at MVO, $2,000.00 each, did not pass FROR....:-(

Just out of curiosity, did you get a copy of Marriott's ROFR document showing they exercised?

 

[MOXJO7282]

I recently had a fixed week MOC Napili towers 9th floor week 27 pass at $30k. I passed on the exact same in a 3BDRM that had passed ROFR at $53k pre Covid. I was torn to wait and see what the MOC resale market would do thinking there might be a lot of units to hit the market but so far I really haven't seen that but maybe it will still happen. At the end of the day I didn't want to pass on a great unit at what would be a very good price in the normal world so we'll see what the future holds for resale units as a whole and high end units like MOC.

 

[TXTortoise]

Same here, as far as Hawaii goes, I've seen little movement in either sales or new listings on Redweek and broker sites.

My comment about seeing the document was due to some back channel discussions that suggested some brokers where using that as an excuse to void a deal, and then trying to re-market at a higher price. An exception I'm sure, but first ROFR reported here and from my contacts in the last few months. Maybe it really was so good, they took it. Didn't cost MVCI much, vs a $30-50K Hawaii week.

 

[Marathoner]

If the global financial crisis a decade ago is an indication, I think the firesales start 2-3 years after the initial downturn. Real estate and timeshare prices lag the real economy from my experience

 

[6scoops]

Just out of curiosity, did you get a copy of Marriott's ROFR document showing they exercised?

No, I did not, should I have gotten that? This was purchased through redweek full service listing.

 

[TXTortoise]

No, I did not, should I have gotten that? This was purchased through redweek full service listing.

If they declined to sell due to ROFR, at a time when we know MVCI is not exercising, I’d probably ask.

 

[6scoops]

If they declined to sell due to ROFR, at a time when we know MVCI is not exercising, I’d probably ask.

Okay, I asked to see them. Sure enough Marriott wanted these two units back. I knew it was way to low of a price, maybe I should of paid full ask, which was still very low price, so I'm not sure it would of passed. Hard to balance a great deal and still pass ROFR :-( Marriott made out like a bandit on this deal.