ROFR metric / Ongoing ROFR Activity

[Theiggy]

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.

Yes and I just saw a garden view 2br ASC go for $1800 on Redweek.


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[bendadin]

Is Marriott ROFR like DVC as the longer you wait, the higher your chance is that they will be exercising their right?

 

[frank808]

Yes and I just saw a garden view 2br ASC go for $1800 on Redweek.


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Was it a gold week?

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[frank808]

Is Marriott ROFR like DVC as the longer you wait, the higher your chance is that they will be exercising their right?

All my Marriott ROFR was pretty quick recently. I had 2 pass ROFR within a few days of it being submitted.

I had a few taken years ago and those took 2+ weeks for an answer. During that time frame, I had identical weeks that passed ROFR that failed earlier the week before. The decision took about the same time frame as the ones they exercised ROFR a week or two earlier.

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[elked12]

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.

Gold would work but platinum would be better of course especially with it getting you access to Christmas and New Years week Unlike the surf club. We own at surf club and just thinking of adding an OC because we like It there. $1500 just seemed like a nice price to get in there.

 

[Dean]

Gold would work but platinum would be better of course especially with it getting you access to Christmas and New Years week Unlike the surf club. We own at surf club and just thinking of adding an OC because we like It there. $1500 just seemed like a nice price to get in there.

If you keep your eyes open and put some time and effort in you can get an OC for a good price. Certainly more than $1500 but the dues are the same. If Platinum works better I'd either pay more or not buy since you can trade in fairly easily to Gold weeks with a trader cheaper up front and yearly.

 

[TXTortoise]

All my Marriott ROFR was pretty quick recently. I had 2 pass ROFR within a few days of it being submitted.

I had a few taken years ago and those took 2+ weeks for an answer. During that time frame, I had identical weeks that passed ROFR that failed earlier the week before. The decision took about the same time frame as the ones they exercised ROFR a week or two earlier.

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My experience is it depends a lot on whose submitting and how. I've had two come back within one day and the other two days. Both were electronic submissions by the broker and closing company, respectively.

 

[Theiggy]

Was it a gold week?

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Yes gold Surf Club


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[stslc]

I'm surprised how little action there has been on this thread lately. We are under contract for some points through a Redweek listing. Cheap. Contract was just finalized today so I'll post details after we find out the results.

 

[paxlin]

I'm surprised how little action there has been on this thread lately. We are under contract for some points through a Redweek listing. Cheap. Contract was just finalized today so I'll post details after we find out the results.

I just had Marriott Timber Lodge week 7 that got taken by Marriott for $13k.
Maybe people has just been looking at www.rofr.net?
Anyone here know what price for week 7 that has passed ROFR before for Marriott Timber Lodge?

 

[sjlk]

I'm surprised how little action there has been on this thread lately. We are under contract for some points through a Redweek listing. Cheap. Contract was just finalized today so I'll post details after we find out the results.

I just picked up a platinum week at Desert Springs Villas II for $500 on eBay. Passed ROFR.

 

[michael49]

I just picked up a platinum week at Desert Springs Villas II for $500 on eBay. Passed ROFR.

Be sure to post that outstanding purchase (my week cost $2,950 in 2017) on ROFR.net.

 

[CULox99]

Passed ROFR on Grande Vista 2BR platinum with Florida Club last week for $1,400. Posting on ROFR.net.

 

[sjlk]

Be sure to post that outstanding purchase (my week cost $2,950 in 2017) on ROFR.net.

Done!

 

[stslc]

I'm surprised how little action there has been on this thread lately. We are under contract for some points through a Redweek listing. Cheap. Contract was just finalized today so I'll post details after we find out the results.

Marriott exercised ROFR on the 1500 Points at 1.33/pt plus closing and transfer fees.

 

[Seaport104]

Marriott exercised on 3BR Platinum Ocean pointe for $9,000

 

[mjm1]

MVC exercised their ROFR on 3,000 DC points at $3 per point. I was very surprised, but they must be in a buying mode right now. I will enter in the database once it closes.

Best regards.

Mike

 

[jmhpsu93]

MVC exercised their ROFR on 3,000 DC points at $3 per point. I was very surprised, but they must be in a buying mode right now. I will enter in the database once it closes.

Best regards.

Mike

Wow. It was occasionally possible to get that past them pre-pandemic.

 

[OldPantry]

Apropos of nothing. My wife and I had an extended nightmare with Marriott. We put our Newport Platinum week up for sale at a "sacrifice" price of $6000, hoping to be done with it once and for all (the yearly effort to snag an actual platinum week, ie summer, was draining). We got an offer quickly, Marriott dragged its heels for six weeks, then exercised ROFR, then took another NINE months to complete the purchase. I was threatening them, literally by name, with tortious interference (which it was, it was), before they finally sent the check. What a bunch of slime bags!

 

[TheTimeTraveler]

Apropos of nothing. My wife and I had an extended nightmare with Marriott. We put our Newport Platinum week up for sale at a "sacrifice" price of $6000, hoping to be done with it once and for all (the yearly effort to snag an actual platinum week, ie summer, was draining). We got an offer quickly, Marriott dragged its heels for six weeks, then exercised ROFR, then took another NINE months to complete the purchase. I was threatening them, literally by name, with tortious interference (which it was, it was), before they finally sent the check. What a bunch of slime bags!

Actually, they have only 30 days to exercise their option of First Refusal, so by right your sale should have proceeded with the private party so I don't understand why they didn't let it pass at that point.......


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[mjm1]

Apropos of nothing. My wife and I had an extended nightmare with Marriott. We put our Newport Platinum week up for sale at a "sacrifice" price of $6000, hoping to be done with it once and for all (the yearly effort to snag an actual platinum week, ie summer, was draining). We got an offer quickly, Marriott dragged its heels for six weeks, then exercised ROFR, then took another NINE months to complete the purchase. I was threatening them, literally by name, with tortious interference (which it was, it was), before they finally sent the check. What a bunch of slime bags!

Thanks for sharing your experience. They just exercised on buying our points, so I will follow up with them. We were told 30-45 days to close, but we shall see.

Best regards.

 

[dioxide45]

Actually, they have only 30 days to exercise their option of First Refusal, so by right your sale should have proceeded with the private party so I don't understand why they didn't let it pass at that point.......


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They have 30 days is only to provide notice that they are exercising their right, not 30 days to close the transaction. From the Grande Vista condo declaration.

 

[TheTimeTraveler]

They have 30 days is only to provide notice that they are exercising their right, not 30 days to close the transaction. From the Grande Vista condo declaration.
View attachment 32633

Marriott didn't act on the ROFR for six weeks according to OldPantry posting.........



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[dioxide45]

Marriott didn't act on the ROFR for six weeks according to OldPantry posting.........



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See it now. In most cases, I find situations related to the response on ROFR is more often fault of the closing company not sending the details of the contract to Marriott vs Marriott failing to reply. Or the closing company being slow to notify the owner.

 

[BJRSanDiego]

My own thoughts is that when the contract is written up, that it needs to state that "time is of the essence" and that the agreed upon price of the sale increases as time proceeds. Say for instance...the buyer needs to provide funds and complete all of the necessary paperwork within 30 days of acceptance... and that any delays in providing the funds and complete the paperwork will result in a fee of $500 per week (or 10% a week, etc.). Perhaps also add an "out" that is the buyer does not act in good faith and complete the delivery of funds and documentation within (say) 40 days, that the agreement is terminated, or that if the buyer agrees to $1000 non-refundable relinquishment if they do not provide the funds and documentation.... Well, you get the thought train. I'm not a lawyer (but have successfully represented myself against a licensed attorney in front of a judge). Perhaps someone with more experience than me can suggest some ways to motivate Marriott to move in a more time-conscious manner.