I sometimes see ebay ads which say that the sale is subject to Starwood's ROFR. Has anyone legitimately heard of Starwood exercising this anywhere? When I bought my Kierland resale last year, the broker told me she has never seen it. I'm just curious if some ebay sellers are leaving themselves an excuse to back out of a deal if the high bid isn't as much as they want. Thanks.
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Starwood Right of First Refusal
- Thread starter harzim
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DeniseM
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I don't know of any sales where Starwood exercised ROFR - maybe one? I don't think a seller could use that excuse to get out of a sale, because ROFR is processed though the closing company, not directly with the seller, and a reputable closing company is not going to falsify sales records. However, Starwood does have ROFR at some resorts.
Here is a recent thread with some info. on ROFR. You can find more by using the SEARCH THIS FORUM button and searching for ROFR.
Here is a recent thread with some info. on ROFR. You can find more by using the SEARCH THIS FORUM button and searching for ROFR.
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DavidnRobin
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WKV does not have a ROFR.
I believe there has been only one report of a ROFR on this forum.
I believe there has been only one report of a ROFR on this forum.
Do you know if WMH has ROFR?
Doesn't really matter now since I was outbid on ebay. Maybe just as well, I got a little carried away and I might have regretted it tomorrow!
Thanks!
yes, it has rarely been used but there is at least one isolated case here. it was a plat week for roughly $7800 2/2 lockoff. I was looking at that auction...decided to pass also
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That was my win. If they ROFR, I will be really unhappy since this will have been the 2nd WMH escrow gone afoul for me.
I'll keep everyone posted. Katherine
Was this the unit that was incorrectly labeled as a 1-52 Float? Great buy if it's not ROFR'ed.
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That was my win. If they ROFR, I will be really unhappy since this will have been the 2nd WMH escrow gone afoul for me.
I'll keep everyone posted. Katherine
Was this the unit that was incorrectly labeled as a 1-52 Float? Great buy if it's not ROFR'ed.
BTW, isn't this like your third purchase in two months? You may have an illness!
Glorian
Yes, but there is no such thing as a 1-52 float a WMH. I looked at the deeded week (18). It's Platinum. :whoopie:
I do not have an illnes. I categorically refute it. Aint nothing wrong with me. I AM FINE!!!!!!!!!!!!!!!!!!!!! :rofl:
K
I do not have an illnes. I categorically refute it. Aint nothing wrong with me. I AM FINE!!!!!!!!!!!!!!!!!!!!! :rofl:
K
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ROFR is not something that Starwood can just decide to do - it must be written into the contract/deed/conditions of purchase for that resort.
There are Marriotts that have it and Marriotts that don't.
All DVC point contracts are subject to ROFR and the good resellers know exactly what that price point is.
If you own at a resort that HAS ROFR in the contract - then Marriott has 30 days from the submission to exercise that right as is written in the contract.
There have been reports of people getting sales thru at a slightly lower price because the ROFR department was 'behind' and couldn't meet the 30 day requirement. There have also been instances where someone has passed at a price someone else didn't get thru with a month before - a lot has to do with inventory needs.
So even if Starwood says, 'We want to buy that deed at that price' they don't have a 'right' to do it unless it is in your resorts contractual rules.
Does anyone know if there is a ROFR clause in ANY Starwood sales contract?
There are Marriotts that have it and Marriotts that don't.
All DVC point contracts are subject to ROFR and the good resellers know exactly what that price point is.
If you own at a resort that HAS ROFR in the contract - then Marriott has 30 days from the submission to exercise that right as is written in the contract.
There have been reports of people getting sales thru at a slightly lower price because the ROFR department was 'behind' and couldn't meet the 30 day requirement. There have also been instances where someone has passed at a price someone else didn't get thru with a month before - a lot has to do with inventory needs.
So even if Starwood says, 'We want to buy that deed at that price' they don't have a 'right' to do it unless it is in your resorts contractual rules.
Does anyone know if there is a ROFR clause in ANY Starwood sales contract?
DavidnRobin
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WKV does not have a ROFR.
WKORV, WKORVN, WSJ, and WPORV do have a ROFR (by contract).
WKORV, WKORVN, WSJ, and WPORV do have a ROFR (by contract).
Congrats! I didn't realize there was no 1-52 float at WMH. So I"ll know for next time, how does a fixed platinum week work? Can you only stay week 18 at your home resort? Thanks and I hope this one works out for you.
No, not a fixed week. It's just deeded to week 18 but it's float for platinum season. The 1-52 float is an error in the listing. I confirmed with Starwood. There is luckily nothing special about WMH. It's Platinum, Gold and Silver. Katherine
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Gotcha....is this info in the FAQs section that Denise has 'stickied'?
It should be for reference.
DeniseM
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Nope - but if someone can round up the info., I'd be glad to post it.
On another note, Pat, can you weigh in on this? - PGA Questions No one has answered this post except Kath and I, and we don't know what we are talking about!
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Nope - but if someone can round up the info., I'd be glad to post it.
On another note, Pat, can you weigh in on this? - PGA Questions No one has answered this post except Kath and I, and we don't know what we are talking about!
LOL, I have never been to the resort
!I did stay at the Hutchinson Island Marriott one time and the area is very nice
Sorry to be dense, but I don't get it. If it is float for Platinum season, why is 1-52 float an error in the listing? Thanks.
WMH has only Platinum, Gold and Silver. This listing is for week 18 so it's in the platinum time frame. So it doen't float 1-52. You CAN reserve Gold and Silver weeks using your Platinum week but only at 8 months out. At 12-8 months, you have to reserve within your season (weeks 1-21, 50-52).
So the listing is not correct in saying it's "floating 1-52." It floats in the platinum season only. Hope that makes sense.
This is in contrast to SDO where most of the units float all year and anyone can reserve any week of the year at 1 year out. THat's a true 1-52 float.
Katherine
Got it, thanks!!