ROFR metric / Ongoing ROFR Activity

[dioxide45]

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.

How was your contract worded to make you think the week you bought in the bundle came from ROFR? In general terms, the bundle packages usually include a week that MVC is selling on behalf of another owner through the MVC resale department. In fact, a several years ago a Tugger noticed that Marriott took back a couple Maui in fixed unit/weeks through ROFR that this Tugger wanted to purchase. MVC would not sell them the weeks. They were worth more to sell as Trust Points.

A Maui Lahaina/Napili Villas 2B oceanfront is worth 7,475 points. If they dump that in the trust and sell them out at a discounted amount of around $12.50 per point then it is over $93,000 in point sales. Did they sell you that week as part of a bundle for more than that? I suspect it was much less.

 

[optimist]

Marriott is buying back our Maui Ocean Club Molokai Towers oceanfront EOY 2 Br. The contract was for $10,900 through a broker.

 

[Chucez]

Should have asked for more

 

[Danlop88]

RofR passed MGC 1375.00 EOY even. I updated RofR.net

 

[Chucez]

RofR passed MGC 1375.00 EOY even. I updated RofR.net

What is MGC?

 

[Danlop88]

What is MGC?

It’s short for Marriott Grand Chateau property in Las Vegas.

 

[rickandcindy23]

Our Westin Oceanfront Center, new week not closed yet that I bought from a TUGger, did pass ROFR for $38K. LT Timeshares is handling the closing with no escrow. Sending a check directly to the TUG member.

 

[MOXJO7282]

Marriott just bought back a Floating Lahaina Towers 2BDRM OF at $34,500.

 

[Fido Chuckwagon]

Our Westin Oceanfront Center, new week not closed yet that I bought from a TUGger, did pass ROFR for $38K. LT Timeshares is handling the closing with no escrow. Sending a check directly to the TUG member.

You're sending $38,000 without escrow?

 

[BJRSanDiego]

You're sending $38,000 without escrow?

When I last used LT Transfer (bought from a fellow Tugger), I used LTT's "soft escrow". I sent the the check, they held it for a while, and after things were transferred, they mailed the check to the Tugger. IIRC, I may have sent a Cashier's check.

 

[dioxide45]

When I last used LT Transfer (bought from a fellow Tugger), I used LTT's "soft escrow". I sent the the check, they held it for a while, and after things were transferred, they mailed the check to the Tugger. IIRC, I may have sent a Cashier's check.

How long ago was this?

 

[BJRSanDiego]

How long ago was this?

Gosh, that was over 5 years ago.

 

[dioxide45]

Gosh, that was over 5 years ago.

Thanks. I was just curious as I thought they stopped this practice.

 

[zdbradshaw]

RofR passed MGC 1375.00 EOY even. I updated RofR.net

@Danlop88 Does the $1375 include closing and transfer fees or are those separate?

 

[Danlop88]

@Danlop88 Does the $1375 include closing and transfer fees or are those separate?

Those were separate but paid by the seller. It was 299.00 closing and transfer 199.00.