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ROFR verification

natarajanv

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When Hilton wants to take a unit back using ROFR, do they reject the ROFR request submitted during sale?

What is the proof when some agent says the unit was taken back for X amount?

Can they show some kind of document to backup their claim?
 

presley

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Yes. You can ask your seller for a copy of the document that shows Hilton exercised their right.
 

SmithOp

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When Hilton wants to take a unit back using ROFR, do they reject the ROFR request submitted during sale?



What is the proof when some agent says the unit was taken back for X amount?



Can they show some kind of document to backup their claim?


Did you lose one to rofr recently? Do you mind sharing the details? We are always interested in rofr activity, the question gets asked a lot.

Its my understanding there is a $35 fee paid to Hilton that starts the process, an estoppel and a waiver is provided for that fee, so you should be able to request a copy.


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natarajanv

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Did you lose one to rofr recently? Do you mind sharing the details? We are always interested in rofr activity, the question gets asked a lot.

Its my understanding there is a $35 fee paid to Hilton that starts the process, an estoppel and a waiver is provided for that fee, so you should be able to request a copy.


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No, I did not. When I presented my offer for a 2BR platinum 7000 point unit to the agent, the reply was , "oh, Hilton started exercising few weeks back and took back one unit for that amount". I don't believe that, and was wondering how to ask for a proof.
 

1Kflyerguy

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No, I did not. When I presented my offer for a 2BR platinum 7000 point unit to the agent, the reply was , "oh, Hilton started exercising few weeks back and took back one unit for that amount". I don't believe that, and was wondering how to ask for a proof.

The agent probably is probably not obligated to provide proof of ROFR on someone else transaction. In fact the seller may not wish to share details of their financial transactions with an unrelated party.

But if your talking about the transaction where your the buyer, you probably have a right to ask for proof. though I can't really see what advantage a seller would gain by accepting your offer, but then claiming HGVC exercised ROFR..
 

vacationtime1

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I think the broker is simply trying to get OP to increase the amount of his offer.
 

Cyberc

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No, I did not. When I presented my offer for a 2BR platinum 7000 point unit to the agent, the reply was , "oh, Hilton started exercising few weeks back and took back one unit for that amount". I don't believe that, and was wondering how to ask for a proof.

Do you mind sharing how much you offered and the location.

Regards
 

Jason245

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No, I did not. When I presented my offer for a 2BR platinum 7000 point unit to the agent, the reply was , "oh, Hilton started exercising few weeks back and took back one unit for that amount". I don't believe that, and was wondering how to ask for a proof.
What hilton does and doesn't do isn't your problem. Offer a price and if buyer accepts they either get that price from Hilton or from you.

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natarajanv

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Do you mind sharing how much you offered and the location.



Regards


$6250 @ paradise. But my offer was much less than that for the strip location.


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natarajanv

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What hilton does and doesn't do isn't your problem. Offer a price and if buyer accepts they either get that price from Hilton or from you.

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Exactly. But most of the agents don't even take the offer to the seller unless they are fine with the deal


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Jason245

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Exactly. But most of the agents don't even take the offer to the seller unless they are fine with the deal


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Agents are required by law to present offers to their clients. . Refusal is a violation of their real estate license.

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J24WG

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I had a 3,400 annual points at the Strip for $900 breeze right through in late September and the points have made it to my account already. My 5,000 EOY points at Sea World for $1000 that started about a month later has stalled through the same closing company (Grand Vacations Title). They haven't said why yet, but at this point I wouldn't be surprised if ROFR gets exercised. Keeping my fingers crossed that I don't come back as the first confirmation that it has restarted, but something is definitely different this time around.
 

Jason245

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I had a 3,400 annual points at the Strip for $900 breeze right through in late September and the points have made it to my account already. My 5,000 EOY points at Sea World for $1000 that started about a month later has stalled through the same closing company (Grand Vacations Title). They haven't said why yet, but at this point I wouldn't be surprised if ROFR gets exercised. Keeping my fingers crossed that I don't come back as the first confirmation that it has restarted, but something is definitely different this time around.
Just remember, every time they exercise it saves you from the annual mf of a new contract. . Never a bad thing.

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onenotesamba

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I posted elsewhere that two agents, independently of each other, told me last week that ROFR had resumed, recently. And in neither instance was it connected to an offer that I was making. And one of them was an associate in Judi's office. I have an contract on a 4800 point contract pending for a super low purchase price, and when I asked for more info, she said that she hadn't heard that they were exercising recently on 4800 point units, but that they'd resumed at 7000 points and higher at low MF properties.
 

J24WG

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Just remember, every time they exercise it saves you from the annual mf of a new contract. . Never a bad thing.

It wouldn't hurt my feelings that much. I still plan to get more HGVC points, but got a little trigger happy and also acquired 3 independent units at specific destinations I wanted, so spreading it out a little would be less sticker shock.
 
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