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Okay, I asked to see them. Sure enough Marriott wanted these two units back. I knew it was way to low of a price, maybe I should of paid full ask, which was still very low price, so I'm not sure it would of passed. Hard to balance a great deal and still pass ROFR :-( Marriott made out like a bandit on this deal.
Be sure and enter it on ROFR.net. We know the ROFR office is open, but no real sense of how much they'll spend...other than at least $2000. ;-). Really surprised they took it.
Bummer that they exercised on you 6scoops!! I just signed an agreement to purchase a EOYO week at MOC today, going to ROFR tomorrow. Hoping to hear back soon and will update. Wish me luck!
I am not sure if this is an ongoing trend or not but it appears as if Marriott is now back to buying ROFR points again. During the height of the Covid-19 they were allowing points to slip thru for as little as 76 cents per point.
I am not sure if this is an ongoing trend or not but it appears as if Marriott is now back to buying ROFR points again. During the height of the Covid-19 they were allowing points to slip thru for as little as 76 cents per point.
Looks like points and weeks based on the previous post. Maybe what appears to be a no ROFR window has closed? Could be they are still buying under a certain dollar amount per resort/point, or this could be the return to normal. Received confirmation just now that the week I am trying to buy was submitted for ROFR and should get an answer this week. I guess the ROFR team is making decisions once a week, so we will see what happens.
Just a thought, but I would assume most selling points are getting out of Marriott, would there be any value in adding the new buyer to the existing account as co-owners and then remove the original owner to avoid the enrollment fee ?
Looks like points and weeks based on the previous post. Maybe what appears to be a no ROFR window has closed? Could be they are still buying under a certain dollar amount per resort/point, or this could be the return to normal. Received confirmation just now that the week I am trying to buy was submitted for ROFR and should get an answer this week. I guess the ROFR team is making decisions once a week, so we will see what happens.
Given that many of the resorts have reopened and so have many sales offices, it is possible they have restarted limited ROFR to keep the points inventory pipeline within their target range. I suspect sales are still depressed, so would not expect business as usual ROFR, but it is not surprising that they may be sticking their toes back into the ROFR waters. They announce second quarter earnings on Wednesday, so there may be some details offered in their 9am Thursday conference call with analysts.
So just heard back from Marriott that they waived their ROFR on an every other year - odd years, 2 bedroom, Platinum season, Ocean Front, Napili towers at Maui Ocean Club. I was very worried with recent reports that ROFR was back in full force, but maybe the price is too high for them to buy it back. Who knows. We are not reimbursing for this years maintenance fees, but are paying all closing costs. Sales price is $10K even.
The transfer agent helping us out told us that the ROFR department is working 1 day a week, on Wednesdays. We submitted it yesterday morning, and the seller received the waiver letter via e mail today. Fastest ROFR process I have ever been a party to.
Awesome price, particularly considering the lowest 2BR OF annual in the old towers I'm aware of was $18K or a bit less, circa 2017; and that 2BR OF annuals have been locked at $30K until they stopped ROFR in April.
Awesome price, particularly considering the lowest 2BR OF annual in the old towers I'm aware of was $18K or a bit less, circa 2017; and that 2BR OF annuals have been locked at $30K until they stopped ROFR in April.
Thank you and special thanks for the referral, Paul has been great so far! I figured that pre-COVID price would be about $14 or $15k or so for this, so we have enough equity so to speak to whether a bad economy drop and still retain value if we had to sell. But who knows what is coming next. A year from now, it may look like I overpaid.
Thank you and special thanks for the referral, Paul has been great so far! I figured that pre-COVID price would be about $14 or $15k or so for this, so we have enough equity so to speak to whether a bad economy drop and still retain value if we had to sell. But who knows what is coming next. A year from now, it may look like I overpaid.
Be sure and enter it on ROFR.net. We know the ROFR office is open, but no real sense of how much they'll spend...other than at least $2000. ;-). Really surprised they took it.
Bummer that they exercised on you 6scoops!! I just signed an agreement to purchase a EOYO week at MOC today, going to ROFR tomorrow. Hoping to hear back soon and will update. Wish me luck!
Certainly sounds like MVC is re-engaging, especially at resorts where they want more inventory, and on deals like this where price is likely half of pre-Covid resale pricing.
Marriott BeachPlace Gold EOY $26 (closing included) PASSED ROFR. I will add to ROFR.com. It was submitted to Marriott on 7/30 and heard back today from the broker that it passed.
Certainly sounds like MVC is re-engaging, especially at resorts where they want more inventory, and on deals like this where price is likely half of pre-Covid resale pricing.
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