Selling Westgate timeshare: right of first refusal

[Shadow1960]

Hello - This is my first post. I own a timeshare at Westgate Lakes. It is my understanding that if I were to sell my timeshare, Westgate has the option to purchase it first for the agreed to price. If they decide not to buy, I can continue the sale with my buyer. Has anyone here sold a Westgate timeshare and how difficult was it to complete the process? I'd ask Westgate the question but I don't trust anything they will tell me. It seems like I could keep the potential buyer in limbo until Westgate responses. Thanks for your feedback.

 

[Rent_Share]

Not all of their contracts have a right of first refusal clause, but they try to assert that they do on all resale's, because they are asses.

They are notorious for including "most" of the documents on a CD making them next to impossible to read before the right of rescission period has expired, unless you brought a laptop on vacation

That makes it easier to use a search or find function to see if your purchase documents include the word "refusal"

Either they will buy it at your agreed price or you will be allowed to sell it, they will attempt to change the reservation period for your buyer (some here have asserted illegally, but no one has invested the attorney's fees to challenge) limiting their ability to secure a useful reservation

 

[richardm]

The last Westgate I sold went under contract at $1 and they exercised. The transfer took many months while we waited for Equity Land Title to record a quit claim from the seller back to the developer. During that period, the seller reported that she received calls trying to convince her to pay another m. fee bill. She refused and the closing eventually finalized.

You can find details of the transfer process for Westgate Lakes at http://www.equitylandtitle.com/PDF/Westgate_Sale_Procedure_and_Request_Form.pdf.

 

[LannyPC]

I'd ask Westgate the question but I don't trust anything they will tell me.

Very wise.

As for the Right of First Refusal (ROFR), was this told to you by the sales person at the sales presentation?

A lot of sales people do that. While technically it is true that the resort/TS company/HOA might hold that right, it's rarely exercised. That is a line the sales people feed you to convince you that your TS will hold high resale value.

What the sales person might tell you is that the resort has ROFR to prevent resales from going low and thus driving the resale prices down. The fact is, even though it has this right, it doesn't necessarily exercise this right. There's a huge difference.

 

[Talent312]

IF they hold a ROFR, usually you submit a notice and the contract.
The contract should set a closing date that's outside the notice period.

.

 

[Centurion]

I have transferred 3 Westgate units in the last 24 months. We usually just send a letter with the new deed we have already had prepped and west gate just changes their system. They have never exercised their right of first refusal even for one gift and one for $150.00 (to cover the resort transfer fee).

I don't know why Westgate makes owners go through the exercise. I would be curious to see if anyone here has ever had the ROFR exercised.