ROFR metric / Ongoing ROFR Activity

[NiteMaire]

Can they even put a Grand Residence Quartershare into the DC Trust? Maybe @dioxide45 can answer that since he researched the Trust filings a few years back. So, if they CAN'T or DON'T put Quartershares into the Trust, then exercising ROFR would mean they would have no option other than finding a buyer for the entire Quartershare. They would not be able to just add them to the Trust and resell the points at their standard prices.

I'm fairly certain @frank808 posted about getting DC points for his.

 

[JIMinNC]

Yes, there are quarter shares in the DC trust.

Thanks for the clarification. I didn't know that. So, the question @vacationtime1 raised is indeed relevant as to why they would not exercise that at an effective $1.28/point but just exercised @Howtch at $2.25/point.

 

[JIMinNC]

I'm fairly certain @frank808 posted about getting DC points for his.

But @frank808 can't put his into the Trust. He has deeded quartershares that are enrolled in the DC program, so he gets an allocation of DC points, just like any other enrolled week owner, but his are elected/enrolled points not Trust points. @dioxide45 answered the question that MVC can and does put quartershares into the Trust, but those are all deeds that are owned or reacquired by MVC, not individual owners.

 

[Fasttr]

Thanks for the clarification. I didn't know that. So, the question @vacationtime1 raised is indeed relevant as to why they would not exercise that at an effective $1.28/point but just exercised @Howtch at $2.25/point.

I'm guessing they are happy with the sale of the 5000 DC points + the $5K cash to enroll the Qtr Share.

 

[JIMinNC]

I'm guessing they are happy with the sale of the 5000 DC points + the $5K cash to enroll the Qtr Share.

Good point, but would they know from the ROFR submission if the buyer was actually planning to buy the points to enroll the quarter share?

 

[csalter2]

Good point, but would they know from the ROFR submission if the buyer was actually planning to buy the points to enroll the quarter share?

Sometimes. There was a thread about this a couple of years ago on this very same topic in which someone bought the quarter share resale and had an agreement to enroll it with the purchase of 5000 DC points. The salesman at least knew about it.

 

[Howtch]

I'm guessing they are happy with the sale of the 5000 DC points + the $5K cash to enroll the Qtr Share.

While I'm not a conspiracy theorist, I also wonder if this punitive against me since I was under contract in late August to buy direct and rescinded. If the resales people are talking to the sales people, this may be a "it's him" issue.

 

[Howtch]

Third time was the charm. Just got word that I passed ROFR at $2.35 / point.

 

[Mlvnsmly]

Lakeshore Reserve annual platinum 2 bed deluxe $2900. Failed.

 

[Howiereed]

Aruba Ocean Club - Annual platinum week 1 bedroom ocean view $6,000 passed

 

[MVCOwner]

Marriott Grande Vista 2 bedroom Platinum passed at $1200. signed Dec 23rd, notified it waived Jan 5th.

 

[CULox99]

Marriott Grand Residence 2BR/3BA Quartershare passed ROFR at $70,000. Signed contract submitted to MVC on 12/28, notified it was waived and passed ROFR on 12/29. Purchased as part of an enrollment package that will generate on average 51,331 points annually. Have not decided on the enrollment purchase with MVC as offering a 5,000 DC points purchase that includes 12,500 bonus points at $51,500, they will enroll the MGR quartershare and my Grande Ocean Platinum 2BR OF that I recently purchased in December. I'm waiting on something at Aruba Surf Club to open as I would prefer to enroll by purchasing a fixed week SC vs. buying DC points.

 

[vol_90]

Marriott Grand Residence 2BR/3BA Quartershare passed ROFR at $70,000. Signed contract submitted to MVC on 12/28, notified it was waived and passed ROFR on 12/29. Purchased as part of an enrollment package that will generate on average 51,331 points annually. Have not decided on the enrollment purchase with MVC as offering a 5,000 DC points purchase that includes 12,500 bonus points at $51,500, they will enroll the MGR quartershare and my Grande Ocean Platinum 2BR OF that I recently purchased in December. I'm waiting on something at Aruba Surf Club to open as I would prefer to enroll by purchasing a fixed week SC vs. buying DC points.

Was the quarter share purchased for 2021 usage? If so how will you use it until the enrollment? Just curious.

Thanks!

 

[CULox99]

Current owner did not have enrolled with DC points. They had exchanged 4 or 5 weeks with Interval and because of that we decided to defer remaining 2021 usage and not take usage until 2022. Which is what I preferred with Covid limitations until the summer at best. Happy to help with any other questions regarding purchase process. Took about 3-4 months to get really comfortable with the 51k points and find the right price and property. Had some great help and advice from other MGR owners here on TUG. Would never had done this or known about it without their support

 

[frank808]

@CULox99
Well congrats on your purchase. So you finally felt comfortable and bought a quartershare. What is the MF for the 2br/3bath this year? You know that the annual taxes are billed separately by El Dorado county?

At least you have about a year to get the quartershare enrolled. If not enrolled, you will have 13 weeks to use, rent or deposit to II.

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[CULox99]

It's the standard size room 2BR that sleeps 10 with the 2 single beds on both sides of fireplace. Dont have my spreadsheet in front of me, but is just under $15k for MVC dues. With CA taxes it is $15,500 per year. We are definitely enrolling, just eating on MVC to get back to me next week with options. I do have a few questions i wanted to run by you, I'll private message you. Thanks!

 

[COSkier1]

Congrats on the purchase! At Aruba I was told the enrollment period ended in December and probably won’t spin up until this summer/fall. What broker was the resale unit sold from?

 

[CULox99]

Thank you. Aruba did end in mid December per my contact there, but was told he expected it back up shortly after new year. He is back from vacation on Monday and I will know more then. I GRC through Paradise Timeshare. They are one of two approved resellers by MVC. Unit never hit the market as they knew what I wanted and my price point and we locked up immediately.

 

[shellbelle]

Marriott waived on our latest NCV platinum week at $6800 (all in, including closing costs.)

 

[frank808]

Just added on 2 more weeks.

Willowridge 2br annual platinum $1500 including closing costs and Marriott fees.

Grand Chateau 2br annual platinum $2300 including closing costs and Marriott fees. Seller paid for title insurance from First American Title. Told them it was a waste of money because they bought the week directly from MVC.


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[Fasttr]

Just added on 2 more weeks.

Willowridge 2br annual platinum $1500 including closing costs and Marriott fees.

Grand Chateau 2br annual platinum $2300 including closing costs and Marriott fees. Seller paid for title insurance from First American Title. Told them it was a waste of money because they bought the week directly from MVC.

Proving that what you already have is never enough. ;-)

 

[frank808]

Thought I had enough but will be short a few weeks to fill in the year. Seems with electing points for my grand residence weeks, left me a just a little short.

Added to rofr.net
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[elked12]

Anyone have an idea if a 1 bedroom Aruba ocean club Gold week would pass for $1500?

 

[starzim]

try www.rofr.net you can search by property to see what has passed etc.

 

[Dean]

Anyone have an idea if a 1 bedroom Aruba ocean club Gold week would pass for $1500?

I suspect that's about the limit but it might pass depending on the other specifics. I wouldn't chase ROFR, just get the best deal you can then see if it passes or doesn't. Would an OC Gold work for you? For Gold I prefer SC (even having to get a 2BR) due to the differences in the calendar with more Gold weeks unless it's an OF or Platinum unit.