ROFR metric / Ongoing ROFR Activity

[Dean]

I

Doesn’t this become a problem on closing if your first UY is 2027? Been told they won’t transfer reservations

As noted, no, reservations will transfer, I've had a number over the years including within the last couple of years. It just has to specify that in the contract submitted. I can't say for points but I can't imagine they wouldn't. The problem becomes that getting the seller to reserve can be a problem, fortunately both the broker and sellers have been GREAT with these 2 Grande Ocean weeks. The closing agent not so much.

 

[equitax]

As noted, no, reservations will transfer, I've had a number over the years including within the last couple of years. It just has to specify that in the contract submitted. I can't say for points but I can't imagine they wouldn't. The problem becomes that getting the seller to reserve can be a problem, fortunately both the broker and sellers have been GREAT with these 2 Grande Ocean weeks. The closing agent not so much.

In my quest to buy club points one contract submitted wouldn’t even be considered for rofr because current owner had a 2027 on the books. Agent even went back to say we would accept that way or he would cancel the reservation but they rejected the rofr submission and said deal would need to be resubmitted. On another one owner had borrowe 120 points from 2027 into 2026 and same thing.

 

[Dean]

In my quest to buy club points one contract submitted wouldn’t even be considered for rofr because current owner had a 2027 on the books. Agent even went back to say we would accept that way or he would cancel the reservation but they rejected the rofr submission and said deal would need to be resubmitted. On another one owner had borrowe 120 points from 2027 into 2026 and same thing.

Did the contracts specify you'd get the pending reservation?

 

[equitax]

Did the contracts specify you'd get the pending reservation?

Initially no but when mori identified we proposed to amend or accept as is I guess they were in the right to force a resubmit rather than waiting for an amendment, though realistically they could have simply decided whether acceptable or not. Agent had told them that the discrepancy was minor enough and to let title co figure it out and parties settle on closing

 

[Dean]

Initially no but when mori identified we proposed to amend or accept as is I guess they were in the right to force a resubmit rather than waiting for an amendment, though realistically they could have simply decided whether acceptable or not. Agent had told them that the discrepancy was minor enough and to let title co figure it out and parties settle on closing

I would expect them to require a resubmit. If I'm understanding correctly, you do not have an example with a pending reservation where the submitted contract specified you'd get the reservation? It makes sense they'd require all pending reservations be taken care of prior to transfer. Either by being used OR by depositing to II.