ROFR metric / Ongoing ROFR Activity

[mjm1]

Has anyone had experience with what is passing on points. In August 2020 I got 4000 points at $2 per point. I have tried since then to get more but every-time it has failed.

We recently sold some DC points for $3 PP and MVC exercised their ROFR. We are still waiting for the paperwork from them.

Just curious if anyone has tried to get creative with the purchase price and the junk fee. For example, purchase agreement between buyer and seller says $4/point, which gets submitted to Marriott. Buyer and seller have a separate reimbursement agreement (which Marriott never sees and is not referenced in the purchase agreement) under which seller agrees to reimburse buyer the junk fee when paid. Benefit to seller: very quick sale. Benefit to buyer: savings of ~$2/point. Anyone tried anything like this?

Rather than have a separate agreement, which as others have mentioned is illegal, just include it in the agreement. Purchase price is $5 PP but the seller is responsible to pay the $3 PP fee to MVC. You would want the $3 PP amount to be held by the title company and they disburse it to MVC at the appropriate time.

I haven’t tried that with MVC, but I have purchased resale units with other developers and grossed up the purchase price by the closing costs.

It’s worth a try.

Best regards.

Mike

 

[dioxide45]

We recently sold some DC points for $3 PP and MVC exercised their ROFR. We are still waiting for the paperwork from them.



Rather than have a separate agreement, which as others have mentioned is illegal, just include it in the agreement. Purchase price is $5 PP but the seller is responsible to pay the $3 PP fee to MVC. You would want the $3 PP amount to be held by the title company and they disburse it to MVC at the appropriate time.

I haven’t tried that with MVC, but I have purchased resale units with other developers and grossed up the purchase price by the closing costs.

It’s worth a try.

Best regards.

Mike

I beleive the exchange procedures indicate that the $3 per point is a buyer fee for initiation into the exchange company. So, technically, MVCI could subtract the $3PP from the agreed upon five and only pay $2.

 

[tf2275]

Any reason why a point resale contract cannot have the seller pay all closing costs and/or current MF?

 

[jmhpsu93]

Any reason why a point resale contract cannot have the seller pay all closing costs and/or current MF?

I had a resale purchase earlier this year with that exact arrangement. I paid the $3/point enrollment fee directly to MVC, though most brokers do that for you.

 

[Dean]

Any reason why a point resale contract cannot have the seller pay all closing costs and/or current MF?

As long as it's written into the contract and not a side deal, you can agree to the seller or buyer paying for any items you agree to.

 

[armrecsys]

Hi I purchase a time share for kauai beach club in March, I have been wait for the answer from Marriott to see if that are going to ( pass ROFR). The closing company said they would sent them a note asking what the status was.
The closing company told me they would processed if they don’t reply.
Can someone tell me how that would work.
Are you allow to call the Marriott to see if the paperwork on this purchase was really sent to them.

please help
thanks
Linda

 

[TXTortoise]

When did closing company submit the ROFR form? If they do an electronic submission you should have had an answer within a week at most.

I’ve got three Hawaii weeks in processing and while ROFR has been quick, estoppel are taking 2-3 weeks per my closing agent on two of them.

 

[bazzap]

Isn’t ROFR for Kauai Beach Club officially 10 days?

Marriott Vacation Club Right of First Refusal Policy List of Resorts | Advantage Vacation Timeshare Resales

 

[vacationtime1]

Hi I purchase a time share for kauai beach club in March, I have been wait for the answer from Marriott to see if that are going to ( pass ROFR). The closing company said they would sent them a note asking what the status was.
The closing company told me they would processed if they don’t reply.
Can someone tell me how that would work.
Are you allow to call the Marriott to see if the paperwork on this purchase was really sent to them.

please help
thanks
Linda

I sold a Kauai Beach Club unit about 15 months ago and Marriott ROFR'd it. I received a written notice of Marriott's election to exercise its ROFR from the title company.

I have often been suspicious of situations where a seller claims ROFR was exercised following an eBay auction that closed at a low price. It behooves a buyer to verify that ROFR was really exercised rather than seller trying to get out of a disadvantageous contract.

 

[armrecsys]

I got a email from the closing company stating that Marriott waved my purchase, I have not seem the paper work yet. Can’t wait.

 

[Mlvnsmly]

4500 Asia Pacific points passed. Sent to Marriott @ $4 US per point

 

[echino]

Waiohai annual $7,300 failed.

 

[Dean]

Harbour Lake annual Platinum Plus failed at $133. It took MVC about 2 days to take it.

 

[frank808]

Harbour Lake annual Platinum Plus failed at $133. It took MVC about 2 days to take it.

Where did you find this gem? Was it $133 plus closing costs or was it all in at that price?

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[frank808]

4500 Asia Pacific points passed. Sent to Marriott @ $4 US per point

Congrats. Have fun using your new points!

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[Mlvnsmly]

Well I don't have them yet haha. We're going to do MKO in 2023. One of the few US locations you can book online with AP points.

 

[bazzap]

Well I don't have them yet haha. We're going to do MKO in 2023. One of the few US locations you can book online with AP points.

You can book all the other MVC resorts by phone though, which is not a bad trade off for buying the AP points at such a low price and with them having the lower MF rate compared to DC points

 

[frank808]

Well I don't have them yet haha. We're going to do MKO in 2023. One of the few US locations you can book online with AP points.

Might want to book first with the AP points, then do a request first with one of your Marriott weeks. Then you can save your points to book another location like Florida. FYI there is a slight premium booking MKO and MGC using AP points vs DP points.

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[Dean]

Where did you find this gem? Was it $133 plus closing costs or was it all in at that price?

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It was including closing but this years week (and dues) which I didn't see as a big risks since it was a "fixed week" that far out. I didn't need it but thought if I could get it cheaply enough I'd do it, esp owning a Platinum week there as well I thought I might try for week 51 AND 52 using the 13 month window. I figured it a win/win. I did get the ROFR letter forwarded to me as well.

 

[SueDonJ]

After a report today that this sticky thread is getting, "polluted with off-topic posts," this is a gentle reminder that this is meant to be a catch-all of dollar amounts that have passed/failed Marriott Vacation Club's ROFR thresholds. Questions/comments about the ROFR Waiver process should be posted in the discussion area (below the list of sticky threads) and questions/comments about particular posts here should be sent to the OP using direct messages (click on the envelope icon beside your User Name on the top right to bring up "Discussions.") Thanks!

 

[dioxide45]

After a report today that this sticky thread is getting, "polluted with off-topic posts," this is a gentle reminder that this is meant to be a catch-all of dollar amounts that have passed/failed Marriott Vacation Club's ROFR thresholds. Questions/comments about the ROFR Waiver process should be posted in the discussion area (below the list of sticky threads) and questions/comments about particular posts here should be sent to the OP using direct messages (click on the envelope icon beside your User Name on the top right to bring up "Discussions.") Thanks!

My thought is that ROFR.net is a good catch all for actual pass/fail results and amounts. This thread was initially created when ROFR.net was broken but it has long been fixed. I don't see why this can't be a thread for ROFR related discussion instead of "polluting" the forum with multiple threads on different ROFR discussions. Just my two cents.

 

[samara64]

So for AP points, do you still have to pay the $3 junk fees too.

 

[frank808]

So for AP points, do you still have to pay the $3 junk fees too.

No you do not. Although it is a different booking website than with DP points.

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[samara64]

So what are the disadvantage of the AP points. I see you can call and book all US based resorts. Are you limited to a smaller window below 9 month.

I looked at their chart and looks like they can book some US properties directly and others via exchange with trust points. Is this true.

 

[amy241]

Marriott Ko Olina Beach Club, platinum Oceanview week, passed at $10,000.