Selling

[mlpmd56]

Greetings Tuggers,
I am still on the email list of the guy I bought my first resale timeshare from 8 years ago and he sends out a newsletter. (He is on Maui.) Anyway, his last email stated that Starwood had exercised ROFR on 47 out of their last 149 transactions. So I tried calling Starwood to see if they were interested in buying back my WKORV as I just don't want to pay their high maintenance fees. Just not enough bang for my buck......I have just as good, or maybe better, vacation at my "no name" resort at half the price. Well, no surprise to anyone here, but they ONLY want to take back units that are in foreclosure. At least that is what they say. Not true, obviously, since they are exercising ROFR on resale units. So, I just thought I would ask here if anyone has a phone number of any of the big wigs at Starwood who I could call about this. I only want to sell for what I bought it for resale, which is about 20-30% I believe of developer price. Why go through all the pain of a resale, and then exercise ROFR? Of course, none of us would ever think Starwood is logical......Marcy

 

[ronparise]

Your salesman sounds like he knows what he is doing...why dont you list it with him?

Either that or enter into a sham contract with a friend and see if starwood wont exercise their right

 

[Smalls]

Your salesman sounds like he knows what he is doing...why dont you list it with him?

Either that or enter into a sham contract with a friend and see if starwood wont exercise their right

The entire ROFR process is ripe for manipulation. How easy would it be for someone at Starwood to let a few choice timeshare brokers in on the gig and create fictitious buyers for unwitting sellers? The brokers still get their commission. Starwood gets more inventory at a supposed arms-length that they can mark up 300-400% and sell to buyers who don't know about the resale market price of what they just bought.

 

[rrlongwell]

The entire ROFR process is ripe for manipulation. How easy would it be for someone at Starwood to let a few choice timeshare brokers in on the gig and create fictitious buyers for unwitting sellers? The brokers still get their commission. Starwood gets more inventory at a supposed arms-length that they can mark up 300-400% and sell to buyers who don't know about the resale market price of what they just bought.

I would guess they would not have to go to the trouble and expense of doing this. If they wanted to do this, an upfront fee group could charge the seller whatever they charge, list it on E-Bay for no closing costs etc. Starwood goes to E-Bay and buys it. This could also apply, in principle, to any other re-sale chanels.

 

[Smalls]

I would guess they would not have to go to the trouble and expense of doing this. If they wanted to do this, an upfront fee group could charge the seller whatever they charge, list it on E-Bay for no closing costs etc. Starwood goes to E-Bay and buys it. This could also apply, in principle, to any other re-sale chanels.

Don't know all the legal ramifications, but I'd think it's a lot 'cleaner' for Starwood to exercise an ROFR than to buy it back directly at 25% of the cost they sold it for, then turn around and mark it back up again. Personally, I'd like to see a law put in place that requires the Starwood's, Hiltons, etc. provide some kind of disclosure of the most recent sale prices in the resale market.

 

[mlpmd56]

Yes my salesman is great, and I am glad I gave him business TEN (I just looked it up.....thought it was 8 years ago....actually 10 yikes) years ago. Having gotten "killer" deals my last 3 transactions on ebay I admit I was trying to avoid paying the commission. I probably will list with him. As usual, you get what you pay for. I just thought Starwood might have an epiphany and be reasonable. :hysterical: Marcy

 

[spencersmama]

Don't know all the legal ramifications, but I'd think it's a lot 'cleaner' for Starwood to exercise an ROFR than to buy it back directly at 25% of the cost they sold it for, then turn around and mark it back up again. Personally, I'd like to see a law put in place that requires the Starwood's, Hiltons, etc. provide some kind of disclosure of the most recent sale prices in the resale market.

If that were the case, that law would affect a lot more than just time shares. Have you seen the market on used college text books lately? Buy back at 10% of the original value, sell for 80 -90%. The author, publisher, etc, get nothing from the resale price. It's all pure profit for the used book store.