ROFR metric / Ongoing ROFR Activity

[TXTortoise]

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.

Be sure and enter it on ROFR.net. We know the ROFR office is open, but no real sense of how much they'll spend...other than at least $2000. ;-). Really surprised they took it.

 

[5infam]

Bummer that they exercised on you 6scoops!! I just signed an agreement to purchase a EOYO week at MOC today, going to ROFR tomorrow. Hoping to hear back soon and will update. Wish me luck!

 

[driftdiver]

We were ROFRed on 2500 pts for $4500.

 

[TheTimeTraveler]

We were ROFRed on 2500 pts for $4500.

The question is when did this occur?



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[driftdiver]

The question is when did this occur?

We were ROFRed on 2500 pts for $4500. Was submitted around 7/17/20-7/20/20. Notified of ROFR by Redweek 7/24/20

 

[TheTimeTraveler]

I am not sure if this is an ongoing trend or not but it appears as if Marriott is now back to buying ROFR points again. During the height of the Covid-19 they were allowing points to slip thru for as little as 76 cents per point.



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[5infam]

I am not sure if this is an ongoing trend or not but it appears as if Marriott is now back to buying ROFR points again. During the height of the Covid-19 they were allowing points to slip thru for as little as 76 cents per point.

Looks like points and weeks based on the previous post. Maybe what appears to be a no ROFR window has closed? Could be they are still buying under a certain dollar amount per resort/point, or this could be the return to normal. Received confirmation just now that the week I am trying to buy was submitted for ROFR and should get an answer this week. I guess the ROFR team is making decisions once a week, so we will see what happens.

 

[Camcart]

Is it possible for a non-owner to buy re-sale points to get into MVC, or is that limited to people that currently are owners and have points already?

 

[jmhpsu93]

Is it possible for a non-owner to buy re-sale points to get into MVC, or is that limited to people that currently are owners and have points already?

You can buy resale as a non-owner, pay the $3/point "enrollment" fee, and you'll be just like the rest of us.

 

[Quadmaniac]

Just a thought, but I would assume most selling points are getting out of Marriott, would there be any value in adding the new buyer to the existing account as co-owners and then remove the original owner to avoid the enrollment fee ?

 

[JIMinNC]

Looks like points and weeks based on the previous post. Maybe what appears to be a no ROFR window has closed? Could be they are still buying under a certain dollar amount per resort/point, or this could be the return to normal. Received confirmation just now that the week I am trying to buy was submitted for ROFR and should get an answer this week. I guess the ROFR team is making decisions once a week, so we will see what happens.

Given that many of the resorts have reopened and so have many sales offices, it is possible they have restarted limited ROFR to keep the points inventory pipeline within their target range. I suspect sales are still depressed, so would not expect business as usual ROFR, but it is not surprising that they may be sticking their toes back into the ROFR waters. They announce second quarter earnings on Wednesday, so there may be some details offered in their 9am Thursday conference call with analysts.

 

[5infam]

So just heard back from Marriott that they waived their ROFR on an every other year - odd years, 2 bedroom, Platinum season, Ocean Front, Napili towers at Maui Ocean Club. I was very worried with recent reports that ROFR was back in full force, but maybe the price is too high for them to buy it back. Who knows. We are not reimbursing for this years maintenance fees, but are paying all closing costs. Sales price is $10K even.

The transfer agent helping us out told us that the ROFR department is working 1 day a week, on Wednesdays. We submitted it yesterday morning, and the seller received the waiver letter via e mail today. Fastest ROFR process I have ever been a party to.

I also posted this on ROFR.net

 

[TXTortoise]

Awesome price, particularly considering the lowest 2BR OF annual in the old towers I'm aware of was $18K or a bit less, circa 2017; and that 2BR OF annuals have been locked at $30K until they stopped ROFR in April.

 

[5infam]

Awesome price, particularly considering the lowest 2BR OF annual in the old towers I'm aware of was $18K or a bit less, circa 2017; and that 2BR OF annuals have been locked at $30K until they stopped ROFR in April.

Thank you and special thanks for the referral, Paul has been great so far! I figured that pre-COVID price would be about $14 or $15k or so for this, so we have enough equity so to speak to whether a bad economy drop and still retain value if we had to sell. But who knows what is coming next. A year from now, it may look like I overpaid. ‍

 

[TXTortoise]

Thank you and special thanks for the referral, Paul has been great so far! I figured that pre-COVID price would be about $14 or $15k or so for this, so we have enough equity so to speak to whether a bad economy drop and still retain value if we had to sell. But who knows what is coming next. A year from now, it may look like I overpaid. ‍

Not likely...use it two times, or even rent it and you're golden.

 

[NiteMaire]

Marriott's Grand Chateau: 3BR EOYE, $2000, passed. Submitted last week, waived 4 days later. Entered info on rofr.net.

 

[6scoops]

Be sure and enter it on ROFR.net. We know the ROFR office is open, but no real sense of how much they'll spend...other than at least $2000. ;-). Really surprised they took it.

I'll add it by tomorrow. I'm bummed, would love to get into an Ocean Front unit at Oceana Palms.

Bummer that they exercised on you 6scoops!! I just signed an agreement to purchase a EOYO week at MOC today, going to ROFR tomorrow. Hoping to hear back soon and will update. Wish me luck!

So glad you got it!! Hoping to get to MOC next year, it looks amazing. Congrats

 

[RLS50]

Marriott's Grande Ocean - GOLD Oceanfront - $4,950 total (with $100 closing included) - FAILED, as Marriott exercised ROFR

 

[Fasttr]

Marriott's Grande Ocean - GOLD Oceanfront - $4,950 total (with $100 closing included) - FAILED, as Marriott exercised ROFR

Certainly sounds like MVC is re-engaging, especially at resorts where they want more inventory, and on deals like this where price is likely half of pre-Covid resale pricing.

 

[Jandk2011]

Marriott BeachPlace Gold EOY $26 (closing included) PASSED ROFR. I will add to ROFR.com. It was submitted to Marriott on 7/30 and heard back today from the broker that it passed.

 

[RLS50]

Certainly sounds like MVC is re-engaging, especially at resorts where they want more inventory, and on deals like this where price is likely half of pre-Covid resale pricing.

 

[nycjimster]

Manor Club platinum week failed. $100 purchased price. I was planning to use it for trading.

 

[NapoleonDynamite]

I bought two Ko Olina 2B Oceanview odd year units for $4,500 and $5,300. Passed ROFR in early and late June. Wondering how good of a deal did I get?

 

[csalter2]

I bought two Ko Olina 2B Oceanview odd year units for $4,500 and $5,300. Passed ROFR in early and late June. Wondering how good of a deal did I get?

I think that’s good considering what people like me paid Marriott for them which was about $20,000 more.

 

[rlewismail]

We were ROFRed on 2500 pts for $2500 twice back to back July/August. Now under contract @ $1.50 a point. We'll see how it goes.