Time for ROFR now?

[rthib]

Anyone know how long it is taking Marriott to turn around ROFR on weeks right now?

 

[TheTimeTraveler]

Anyone know how long it is taking Marriott to turn around ROFR on weeks right now?

They have up to 30 days to do so for "most" of the resorts with the ROFR provision, however they can be turned around much faster than that (especially if they are electronically submitted).

Most of the well known closers (such as LT Transfers) submit the forms electronically.

I can't tell you how long it is taking these days but I believe most of the contracts may slip thru due to the current economic situation. It's a great time to buy resale!



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[qlaval]

My last ROFR request was submitted on 4/28/2020 and I received the waiver on 5/8/2020.
So 10 days...

 

[rthib]

My last ROFR request was submitted on 4/28/2020 and I received the waiver on 5/8/2020.
So 10 days...

Thanks. My points ROFR took about 17 days in Feb so trying to see how patient I have to be.

 

[jmhpsu93]

Mine was like 4 business days on a point resale.

 

[sandcfort]

Mine was like 4 business days on a point resale.

What are points going for on resale now? What website?

 

[jmhpsu93]

What are points going for on resale now? What website?

I was the one who scored the 76 cents a point deal on eBay. There aren't any selling right now there (or on TUG), but there are a ton on Redweek - the lowest being under $2/point. Wouldn't hurt to make an offer.

 

[Rodenwjr]

I've been keeping my eye on redweek and haven't seen much movement of really low prices. Probably averaging in the $3/pt range. That's about what it's been for a while. This doesn't mean that a low ball offer couldn't be snagged though.

Sent from my SM-T713 using Tapatalk

 

[rthib]

What are points going for on resale now? What website?

There are ads for <$2 point on redweek. There are also some good brokers.
I can PM the company I used if you want to ask him.

I used redweek as a guide but talk to my guy to purchase

Marriott Vacation Club Points | RedWeek

Buy and sell Marriott Vacation Club points on RedWeek, the largest online marketplace for timeshares. Find great deals and enjoy easy transactions.

www.redweek.com

Low I see today $1.67, six under or at $2 (don't forget to add junk fees, https://vacationpointexchange.com/resale/ has a nice calculator)

 

[Steve Fatula]

There aren't any selling right now there (or on TUG), but there are a ton on Redweek - the lowest being under $2/point. Wouldn't hurt to make an offer.

The very first one is points, and there are a few others also, I see $2750 for 1500 points, or $1500 for 1000 points as some examples.

https://tug2.com/timeshare-classifi...or-Sale-Points&ForSale=True&AdTypePoints=True

As you point out, many people list things for a price they may not get, just like houses. Make an offer, lowball it for now. Some people just want to stop paying the MF as things are bad right now, so, a lowball offer still helps them to get there.

 

[Wahoo]

Anyone know how long it is taking Marriott to turn around ROFR on weeks right now?

I submitted an ROFR waiver request on Monday, and received a response (waiver) from Marriott today (Friday) for a 4-day turnaround time on a weeks purchase. I bought several weeks last year, and the turnaround time on those ROFR requests ranged from 4 to 10 days.

 

[Robert D]

I can't imagine they're buying anything back now since their sales effort is shut down.

 

[billymach4]

Just have to ask... Why would you even buy resale now? Who knows for sure when this will end? Can't make any solid plans now! It sucks all around. Personally I would not want to be saddled with the Maint fee liability?
Even if you plan to rent? The market is in the toilet!

 

[jabberwocky]

Just have to ask... Why would you even buy resale now? Who knows for sure when this will end? Can't make any solid plans now! It sucks all around. Personally I would not want to be saddled with the Maint fee liability?
Even if you plan to rent? The market is in the toilet!

Usually the best time to buy is when everything is in the toilet!

 

[MOXJO7282]

Just have to ask... Why would you even buy resale now? Who knows for sure when this will end? Can't make any solid plans now! It sucks all around. Personally I would not want to be saddled with the Maint fee liability?
Even if you plan to rent? The market is in the toilet!

I'm in the market to buy with the strong expectation things will return to normal relatively soon. I have a deal pending ROFR right now. For high end the market is in my estimation a little soft but it's not like there are great deals left and right. I made alot of aggressive offers but only one took the offer so right now the resale market isn't crashing. I think the one I have pending is 10-12% below what the market was before this so I'm hoping it passes.

 

[rthib]

Just have to ask... Why would you even buy resale now? Who knows for sure when this will end? Can't make any solid plans now! It sucks all around. Personally I would not want to be saddled with the Maint fee liability?
Even if you plan to rent? The market is in the toilet!

I do statistical analysis and actually have been studying mortality for last two years. I can get a great price and not buying in a place that shuts down. Would avoid Hawai, NY or anywhere not US for uncertainty but everywhere else it is a good time to buy if price is right

 

[billymach4]

I'm in the market to buy with the strong expectation things will return to normal relatively soon. I have a deal pending ROFR right now. For high end the market is in my estimation a little soft but it's not like there are great deals left and right. I made alot of aggressive offers but only one took the offer so right now the resale market isn't crashing. I think the one I have pending is 10-12% below what the market was before this so I'm hoping it passes.

.
Sure hope you are correct that the situation will return to normal soon. However my personal outlook is not as optimistic. I had a rental in Ocean Pointe that had to cancel last minute since the resort was not having any amenities. It is paid in full from the renter and I got a lousy AC from Marriott and II. This whole thing really sucks.

 

[billymach4]

I do statistical analysis and actually have been studying mortality for last two years. I can get a great price and not buying in a place that shuts down. Would avoid Hawai, NY or anywhere not US for uncertainty but everywhere else it is a good time to buy if price is right

May be a good time to buy. But the catch all with Timeshares as you know is that it is the gift that keeps on costing in Fees. You could try and gift me now a great location timeshare now but I will not touch it until I can make solid travel plans since I will always have to be paying for it.

 

[rthib]

So I have the answer, Just got ROFR waivers today!!! Submitted 18th and Return on 27th.
Deeds recorded now just have to wait for them to show up in account!

 

[Robert D]

Was the price a lot lower than they would have passed on before the shut down?

 

[rthib]

Was the price a lot lower than they would have passed on before the shut down?

About 50% of what I had seen. Two eoy and total of both is what I saw one eoy get rofr

 

[CA Richard]

Curious as to what resort you bought if you don’t mind sharing?

 

[jmhpsu93]

And don't forget to post on ROFR.net!!!

 

[rthib]

Curious as to what resort you bought if you don’t mind sharing?

Canyon Villas

 

[rthib]

And they are now posted in MVCi (actually yesterday). So May 18 to June 2 from ROFR sent to Weeks in my account.