ROFR metric / Ongoing ROFR Activity

[Chucez]

Steep increases in maintenance fees in 2024 and more anticipated next year due to new Florida laws regarding condos.

Ahh, thank you for all you do

 

[jrb916]

Steep increases in maintenance fees in 2024 and more anticipated next year due to new Florida laws regarding condos.

Great points...This is why we moved from grand vista to willow ridge.

Thanks for keeping the rofr info updated. I reviewed it before we purchased & knew a EOY had a good chance of passing.

 

[AlmostRetired]

it is a great resource but it could be better. The easy thing going forward would be to give instructions on the entry page to include closing costs and any fees as part of the price listed. For high end options it isn't a big deal but it's make or break for things like GC, WR, GV, HL, etc.

You are 100 percent correct that total cost is very important with the lower priced resorts and especially for EOY’s. There are two dynamics going on, passing ROFR and paying the least amount including all other items to get the first use year. I just purchased an EOY even 3 br GC. I paid 1500 which is in ROFR. I paid escrow fee, transfer fee, recording fee and fee to closing company. This would be relatively consistent across GC purchases. The big difference maker is what MF gets reimbursed to the seller and for the first use year. I paid 2024 MF and I am getting 2024 use. I would not have done this deal any other way. My cost all in was 3300, more than 100 percent about what is in ROFR. Though I would not do this deal, they could have asked for both 2023 & 2024 MF for me to get 2024 use. The seller could have kept 2024/ and use could have started in 2026. Personally, I care about the all in price and justify the purchase by considering the MF of the trades I will go after the first use year and likely get, plus trading costs to get it. If I get a 2 br GO and 2 br Aruba Surf in 2025, places I will go in 2025, I look at this as a 1 year break even.

 

[dioxide45]

Though I would not do this deal, they could have asked for both 2023 & 2024 MF for me to get 2024 use.

I won't go down that rabbit hole...

 

[Dean]

You are 100 percent correct that total cost is very important with the lower priced resorts and especially for EOY’s. There are two dynamics going on, passing ROFR and paying the least amount including all other items to get the first use year. I just purchased an EOY even 3 br GC. I paid 1500 which is in ROFR. I paid escrow fee, transfer fee, recording fee and fee to closing company. This would be relatively consistent across GC purchases. The big difference maker is what MF gets reimbursed to the seller and for the first use year. I paid 2024 MF and I am getting 2024 use. I would not have done this deal any other way. My cost all in was 3300, more than 100 percent about what is in ROFR. Though I would not do this deal, they could have asked for both 2023 & 2024 MF for me to get 2024 use. The seller could have kept 2024/ and use could have started in 2026. Personally, I care about the all in price and justify the purchase by considering the MF of the trades I will go after the first use year and likely get, plus trading costs to get it. If I get a 2 br GO and 2 br Aruba Surf in 2025, places I will go in 2025, I look at this as a 1 year break even.

I would never pay the previous years fees on an EOY and often that first year's week, and even the next in some cases, tend to have a reduced value due to lack of lead time and frequently inability to get the week desired. The way I interpret it is the fees for an EOY is that year and the next, not the preceding year's fees.

 

[AlmostRetired]

I would never pay the previous years fees on an EOY and often that first year's week, and even the next in some cases, tend to have a reduced value due to lack of lead time and frequently inability to get the week desired. The way I interpret it is the fees for an EOY is that year and the next, not the preceding year's fees.

I agree but some owners believe that if you use an EOY the full MF should be paid. The point isn't if you or I would do this. The point is one doesn't know what the new buyer did when reporting ROFR.

 

[Dean]

I agree but some owners believe that if you use an EOY the full MF should be paid. The point isn't if you or I would do this. The point is one doesn't know what the new buyer did when reporting ROFR.

Since I know that the fees for an EOY are that year and the next, I'd only agree to such an options for a deal that was screaming overall. It would be illegal in most states to submit ROFR different than the actual agreement but I do know it is done.

 

[bazzap]

I guess there are different views on this, but for our EOY week we pay 50% of full week MFs every year.
So for a resale, I would only expect a buyer to pay the 50% not the 100%?

 

[Mongoose]

I guess there are different views on this, but for our EOY week we pay 50% of full week MFs every year.
So for a resale, I would only expect a buyer to pay the 50% not the 100%?

Depends on if you get 100% of the EOY points.

 

[bazzap]

Depends on if you get 100% of the EOY points.

True, there could be different scenarios dependent on the offer.

 

[Dean]

Depends on if you get 100% of the EOY points.

You do not get points on a resale, only if you buy resale or pay to enroll a week with an additional retail purchase. Abound points would be tied to the week so it the EOY week was eligible for points and you had not passed the election window, you'd get the full points regardless of what fees one paid. If one were buying an EOY week retail ,say this year for an odd year week (next week in 2025), you'd pay no fees this year and then half fees in 2025 & 2026. I am not aware of an EOY points package.

 

[Luvtoride]

Please direct me to the most current list/ sheet of ROFR by property/ size/ season. I see a chart at the beginning of the thread that has a date of 2015…that’s not “it” as of May ‘24 is it??

Thanks,


Sent from my iPhone using Tapatalk

 

[bazzap]

Please direct me to the most current list/ sheet of ROFR by property/ size/ season. I see a chart at the beginning of the thread that has a date of 2015…that’s not “it” as of May ‘24 is it??

Thanks,


Sent from my iPhone using Tapatalk

I am not sure which list you are looking at, but with

Home Page - ROFR Experiences

ROFR Right of First Refusal Results Marriott Hilton Experiences

www.rofr.net

entering Marriott
I get 2024 data (and strangely one showing 2025?!)

 

[dioxide45]

I am not sure which list you are looking at, but with

Home Page - ROFR Experiences

ROFR Right of First Refusal Results Marriott Hilton Experiences

www.rofr.net

entering Marriott
I get 2024 data (and strangely one showing 2025?!)

View attachment 92414

That must be a typo on the date. I’ll fix it next week when I have access to my windows laptop.

 

[jadejar]

I just lost a 3 bedroom platinum ocean vista week at Marriott Surfwatch to ROFR at $22,000. Looks like Marriott is being aggressive lately. I was really hoping it would pass.

 

[Dean]

I just lost a 3 bedroom platinum ocean vista week at Marriott Surfwatch to ROFR at $22,000. Looks like Marriott is being aggressive lately. I was really hoping it would pass.

For a 3 BR OV I couldn't imagine that would go through in today's environment.

 

[pinetree1]

I had a Marriott Grande Ocean platinum OV ROFR at $21250 plus closing cost.

 

[jmhpsu93]

Seems a TON of high-value weeks (which have lower MF/point ratios) are failing ROFR now - doesn't that bode well for the trust maintenance fee calculations?

 

[SkyBornDancer]

Marriott's Maui Ocean Club - Lahaina Towers
Annual 2 bedroom oceanfront
31,000 + 1,150.00 fees
Failed to pass ROFR 5/22/2024

 

[SkyBornDancer]

Seems a TON of high-value weeks (which have lower MF/point ratios) are failing ROFR now - doesn't that bode well for the trust maintenance fee calculations?

I'm not sure it would be enough to make a difference in the trust. Also, I believe sometimes the ROFR is sold to another MVC direct buyer. I say this because my first MVC purchase was a direct bundle of points and an enrolled Lahaina / Napili Villas 2B oceanfront. Looking at the contract it was pretty obviously a ROFR that they were then selling to me.

 

[AlmostRetired]

Seems a TON of high-value weeks (which have lower MF/point ratios) are failing ROFR now - doesn't that bode well for the trust maintenance fee calculations?

The price paid for weeks acquired through ROFR does not impact the MF of the trust and I would think comes from the operational budget.

MVCI has a lack of inventory for high value deeded weeks in the trust. This complaint might be only second to the increase of the MF of trust points. ROFR for high valued weeks has a slight impact on both.

 

[Ski-Dad]

Waiting for a ROFR at $1800 on a 2 bedroom Platinum Grande Vista. Transfer cost and 2024 included. Submitted to Marriott on May 15. I understood that Marriott was slow on the transfers, but I expected ROFR to be more timely. What should I expect on ROFR turnaraound?

2024 usage was included, which sweetened the deal; however, I now understand that 2024 is improbable. Ideally I could deposit a week in II with 60 days plus.

I was prepared to pay $1800 without 2024 usage, so no big deal.

 

[jwalk03]

Waiting for a ROFR at $1800 on a 2 bedroom Platinum Grande Vista. Transfer cost and 2024 included. Submitted to Marriott on May 15. I understood that Marriott was slow on the transfers, but I expected ROFR to be more timely. What should I expect on ROFR turnaraound?

2024 usage was included, which sweetened the deal; however, I now understand that 2024 is improbable. Ideally I could deposit a week in II with 60 days plus.

I was prepared to pay $1800 without 2024 usage, so no big deal.

I believe they have up to 30 days on the ROFR piece. (Though I agree in my experiences this has not be the part that is time consuming; its the actual transfer once everything is completed that is taking 8-12 weeks currently)

 

[Ski-Dad]

I guess all I had to do was ask the question here as a catalyst to clearing ROFR. Cleared ROFR this morning.

$1800 - transfer cost and 2024 use included for 2 Bedroom Platinum Grande Vista. I will post on rofr.net

 

[WahooWah]

I'm not sure it would be enough to make a difference in the trust. Also, I believe sometimes the ROFR is sold to another MVC direct buyer. I say this because my first MVC purchase was a direct bundle of points and an enrolled Lahaina / Napili Villas 2B oceanfront. Looking at the contract it was pretty obviously a ROFR that they were then selling to me.

Have you not noticed that a 2BR Ocean Front failed at $36,300 and finally passed at $37,000 this year?