Westgate Resorts, Right of first refusal

[Watson]

I recently posted our Westgate Towers timeshare for sale in the classified section and was pleased to receive an initial interest from a possible buyer.
I decided to check with Westgate on their transfer fees and when advising me of these they also said they had 'the right of first refusal' at the time of any sale. This effectively means that any potential private purchaser can be replaced by them, on the same terms, if they so choose.
Has any one had any experience of this with Westgate?

Interestingly they also said that whilst they don't buy back timeshares an owner can apply and submit a Voluntary Deed Back request. This appears however to be subject to paying them legal or transfer fees etc. Does anyone have any experience of this as well as it may be the easiest way for us now to get rid of our Westgate timeshare.

 

[Passepartout]

I don't recall EVER hearing about ROFR & Wastegate. But from your point of view as a seller, what do you care? They have probably taken so much flak over stripping all the perks from resales and ruining the resale market, forcing people to simply default, costing Wastegate to resort to foreclosure and legal fees to get them back, meanwhile nobody is paying MFs. Anyway let us know about the voluntary deedback deal. I'm sure many people would be interested as Wyndham's Ovation program seems like a welcome 'out' for their owners.

Jim

 

[theo]

My limited understanding (from participant reports in these TUG forums) is that Westgage has also adopted a "deedback" program. However, while Wyndham's Ovation program is absolutely free (for accepted, paid up timeshares), Westgate reportedly (...and not surprisingly) charges $900 to process a "deedback". Probably a good option for a quick and clean "exit" from Wastegate anyhow, despite the hefty fee, since any prospective resale could quickly fall apart if / when the buyer learns about the reservation constraints for resale owners, leaving the would-be seller right back at square one.

P.S. To OP --- If you originally bought developer direct and still have your contract paperwork, I would examine it very closely to see if ROFR is actually referenced in writing therein. I am strongly inclined to doubt it (in fact, I'd be strongly inclined to doubt the veracity of any verbal assertion from the lips of any Wastegate employee or representative).

 

[AwayWeGo]

The late John Chase (R.I.P.), who knew a thing or 2 about WestGate, said 1 of his gripes about that timeshare company is that they sometimes assert ROFR even when they flat-out do not have ROFR. Apparently some WestGate timeshare deeds contain an ROFR provision & others don't. WestGate has been known to claim ROFR, John Chase said, even on deeds
lacking that provision. Starting point for looking into the matter is to comb through all the reading material in the deed. Good luck.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[theo]

The late John Chase (R.I.P.), who knew a thing or 2 about WestGate, said 1 of his gripes about that timeshare company is that they sometimes assert ROFR even when they flat-out do not have ROFR. Apparently some WestGate timeshare deeds contain an ROFR provision & others don't. WestGate has been known to claim ROFR, John Chase said, even on deeds
lacking that provision. Starting point for looking into the matter is to comb through all the reading material in the deed. Good luck.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

I'd be inclined to think that that if / where ROFR exists, it would most likely be reflected within original purchase and sale contract(s), rather than being reflected anywhere within the deed --- but I could certainly be mistaken. Then again, even if the deed silent on the issue, the deed would still refer back to the original CC&R's, where ROFR could surely be found if it was a policy / practice adopted from day one for that particular resort.

In any event, I certainly would not accept as true verbal statements by anyone associated in any way with Westgate.