Something needs to be done about these ROFR waivers

[aceinthehole]

I believe that something needs to be done about limiting the benefits of owners who buy re-sale. My first thoughts are:
1. Limit Owners associations to only those that are direct buyers
2. Direct buyers get a priortity in all aspects of trades and room selection
3. No option for re-sales to exchange for points.

As whole, direct buyers need to voice their opinion to Marriott...I am!

 

[littlestar]

In this economy with terrible layoffs and people worrying about whether they can feed their children, I doubt Marriott cares to punish their resale buyers that much. It may get to the point where they are glad to have owners that are still able to pay the dues on these Marriotts regardless of what they originally paid for their week.

 

[rsnash]

3. No option for re-sales to exchange for points.

I believe this is already the case.

 

[ocdb8r]

I believe that something needs to be done about limiting the benefits of owners who buy re-sale. My first thoughts are:
1. Limit Owners associations to only those that are direct buyers
2. Direct buyers get a priortity in all aspects of trades and room selection
3. No option for re-sales to exchange for points.

As whole, direct buyers need to voice their opinion to Marriott...I am!

....and what exactly would be the justification for these changes? I'm curious why you think a resale owner should have less rights that someone who bought direct from Marriott?

 

[dioxide45]

By limiting resale owner right even one bit, you diminish the value of everyone's ownership. You think resale prices are cheap now, if they do as you suggested you would be lucky to sell your weeks for $1 even when the market picks up again. Hope you never have to sell out of desperation.

 

[timeos2]

No way to justify the move

....and what exactly would be the justification for these changes? I'm curious why you think a resale owner should have less rights that someone who bought direct from Marriott?

Exactly. Once the purchase is made every one is a potential reseller. The ROFR nonsense, now completely discredited as a "support" for pricing, never helped owners and punished the very buyers you someday may need to sell to for all you can get (and it isn't likely to be much). Punishing them further makes zero sense simply because they were wise enough to use the system to obtain their time at a deep discount over the highly inflated, marketing cost driven, retail level. Except to make the retail buyer "feel good" about spending far more for the exact same accommodations (which is all the purchase is really meant to be - the other "extras" are fluff to justify the excess costs). Every week was sold (so far) originally at those high prices. Once they are in the hands of individual owners no one has a right to "punish" the buyer who takes over from them simply to make the original buyer feel better about what they paid. The fees are the same for both, the underlying resort/week is the same, only the price paid is different. Punishing those who figure it out helps only the developer continue their pricing myth and does NOTHING to actually increase the value of what those direct retail buyers paid. In fact it would further devalue that purchase in a classic "cut off my nose to spite .." action.

Add in the fact that the laws and regulations of approved use and property rights would prevent such "punishment" and the attempts to justify higher prices fails on all levels. Find another way to justify your purchase. Resale buyers aren't the fall guys - they are simply using the process as it was designed intentionally or not.

 

[rickandcindy23]

As soon as our economy is on the mend, the ROFR will be back in place. Meanwhile, it would be a good opportunity for you to pick up more weeks. I have even considered buying a week or two, and I thought I would never say that.

Be glad the value of Marriotts is great enough that the owners don't default on their MF's, which would really hurt all of the owners. Marriott will still get their money, if the economy truly does tank.

 

[davidvel]

I believe that something needs to be done about limiting the benefits of owners who buy re-sale. My first thoughts are:
1. Limit Owners associations to only those that are direct buyers
2. Direct buyers get a priortity in all aspects of trades and room selection
3. No option for re-sales to exchange for points.

As whole, direct buyers need to voice their opinion to Marriott...I am!

Well what a great idea!

While we're at it, let's all send a letter to the Georgia legislature to ensure that anyone who sells any property in Warner Robbins, GA, automatically has the following restrictions on the deed of the new buyer:

1. The new owner is prohibited from living in the home, or accessing any local road between the hours of 7a and 5pm, which is fully justified because they are not "direct buyers."

2. The buyers of such property are on the lowest priority for any police, fire, ambulance call. Further, they are always last in line at the local hospital, even if they have a heart attack but a "direct buyer" has a hangnail. Of course, this is fully justified because they are not "direct buyers."

This is imminently fair because the direct buyers paid an incredible premium to the developer. (Oh wait, they bought a deed and other time share rights that they now want to sell to someone else, a property right they are free to sell as they wish, with all such rights attached! Too bad, we can't do this.)

 

[gmarine]

I believe that something needs to be done about limiting the benefits of owners who buy re-sale. My first thoughts are:
1. Limit Owners associations to only those that are direct buyers
2. Direct buyers get a priortity in all aspects of trades and room selection
3. No option for re-sales to exchange for points.

As whole, direct buyers need to voice their opinion to Marriott...I am!

I think you need to read TUG for while to better understand what you are suggesting. Number 3 is currently the only advantage to buying direct.

Number 1 is amusing and illegal, and as a whole your ideas, as others have said, would cause resale prices to plummet further than they already are.

Instead of trying to justify your purchase by thinking of ways to hurt resale buyers you could accept the fact that you overpaid from the developer as many people do, and make the best out of your purchase.

 

[GrayFal]

I believe that something needs to be done about limiting the benefits of owners who buy re-sale. My first thoughts are:
1. Limit Owners associations to only those that are direct buyers
2. Direct buyers get a priortity in all aspects of trades and room selection
3. No option for re-sales to exchange for points.

As whole, direct buyers need to voice their opinion to Marriott...I am!

Ace, just go over and visit on the Starwood Board - and see what happens when the developer excludes resale buyers from fulling participating in the program.....your ownership you paid 30-40-50K for is worth 1-2K on resale.

This is NOT a good strategy for YOU or anyone else because your ownersip will be worth nothing when you go to sell.

 

[frankhi]

If there weren't so many people who were so easily talked into way over paying for a week, the direct sellers would have to be more competive in their pricing. The unreaistic initial prices are the fault of the people who pay them.

 

[m61376]

As pointed out above- if you ever want to, or even worse- need to- sell your week(s), who in their right mind would buy them under the conditions you lay out? So, basically, your units would be worse than worthless- they would be a MF sucking albatross. The only ones your suggestions benefit are the timeshare postcard companies.

Be careful what you wish for- you may be a direct buyer, but one day you may be a seller....

And, instead of lamenting that others bought for less than you did, keep in mind that they pay annual MF's and, by so doing, keep you annual costs down!

And, yes, it hurts to see these prices plummeting the way they have been- but it is a sign of the times. The economy is rough. Two years ago I bought resale at a really good price for then, but not for now. Should I say that only bargain basement resale buyers should be penalized? Of course not. You made a purchase that was a sound idea for you and your family (hopefully); enjoy what you have and don't look to benefit by penalizing others.