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Ocean Point right of first refusal

SueDonJ

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TUGger Syed has compiled Marriott ROFR-related on this site (which is linked in the Weeks FAQ.) According to it, Ocean Pointe has a 30-day ROFR provision.
 

suenmike32

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As Tugger Syed points out, there is a 30 day provision, but there is also a $95.00 waiver fee.
I sold two weeks last year and the first rofr waiver came very promptly, (i believe in about two weeks), the second took considerably longer. Marriott waived it, but did not send the paperwork until I contacted them directly. They claimed to have sent it to me but I never received it. I requested a duplicate copy and it was sent.
 

Saintsfanfl

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FWIW it is doubtful they are exercising ROFR except maybe platinum. Definitely don't adjust your purchase price in fear of ROFR.
 

hangloose

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Looks like several Ocean Pointe weeks posted on the ROFR www.rofr.net database recently. All passed at pretty good price points in my opinion.

Anyone have ROFR info or experience purchasing a 3 bedroom Plat Annual OF? I am looking at one of those. Thinking under $15k is a good price, but wondering now if I could pass ROFR at a lower price point given the recent ROFRs posted at a lower percentage of DC pts worth recently. Could I pass at $12-$14k?

3 bedroom Plat Annual OF
5975 DC pts * $13.32/pt = 79467.50

@15% = $11,920
@17% = $13,509
@20% = $15,893

Other 2Bed Plat OS Annuals have passed recently at just under 15% and just under 16% of their DC pts worth. Would 3 bed Plat OF command a higher percentage/premium to avoid ROFR?
 

Saintsfanfl

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Looks like several Ocean Pointe weeks posted on the ROFR www.rofr.net database recently. All passed at pretty good price points in my opinion.

Anyone have ROFR info or experience purchasing a 3 bedroom Plat Annual OF? I am looking at one of those. Thinking under $15k is a good price, but wondering now if I could pass ROFR at a lower price point given the recent ROFRs posted at a lower percentage of DC pts worth recently. Could I pass at $12-$14k?

3 bedroom Plat Annual OF
5975 DC pts * $13.32/pt = 79467.50

@15% = $11,920
@17% = $13,509
@20% = $15,893

Other 2Bed Plat OS Annuals have passed recently at just under 15% and just under 16% of their DC pts worth. Would 3 bed Plat OF command a higher percentage/premium to avoid ROFR?

Ignore all of that and get the best price you can. Here is why:

1. Marriott cannot exercise everything because they can only hold so much unsold points inventory at any given time.

2. They stopped exercising at the reported thresholds last July and have not started back up. There is a chance you could pass at $5k.

3. Some ROFR fail reports are bogus because there are known brokers that will lie to put a floor on the eBay or offer price.

4. Depending on who you buy from the ROFR amount may be higher than your out of pocket price due to commissions and fees. Because of this some of the ROFR reports are understated but it is helpful to know what your purchase is being submitted at.

I've bought a ton of weeks lately and haven't had a fail yet but waiting for the verdict on most of them. I have some really good tests coming with 3BR Grande Vista Platinum and 2BR Barony Platinum.
 

hangloose

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Ignore all of that and get the best price you can. Here is why:

1. Marriott cannot exercise everything because they can only hold so much unsold points inventory at any given time.

2. They stopped exercising at the reported thresholds last July and have not started back up. There is a chance you could pass at $5k.

3. Some ROFR fail reports are bogus because there are known brokers that will lie to put a floor on the eBay or offer price.

4. Depending on who you buy from the ROFR amount may be higher than your out of pocket price due to commissions and fees. Because of this some of the ROFR reports are understated but it is helpful to know what your purchase is being submitted at.

I've bought a ton of weeks lately and haven't had a fail yet but waiting for the verdict on most of them. I have some really good tests coming with 3BR Grande Vista Platinum and 2BR Barony Platinum.

Thanks. Good info! Just unsure what to offer. Don't want to overpay, as I'm always in the hunt to get the best price possible. Given 3 Bed, Plat, OF....I'm wondering if Marriott might have interest. Sounds like I should reach out to several sellers/brokers and see what is the best price I can find.......vs offering based on what I think may get under ROFR?
 

Saintsfanfl

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Thanks. Good info! Just unsure what to offer. Don't want to overpay, as I'm always in the hunt to get the best price possible. Given 3 Bed, Plat, OF....I'm wondering if Marriott might have interest. Sounds like I should reach out to several sellers/brokers and see what is the best price I can find.......vs offering based on what I think may get under ROFR?

It's tough to say whether that unit is on the target list to be added to the trust. It's also tough to find steals on highly sought after units so expect to pay close to market, especially dealing with traditional brokers.

You probably already know this but the additional room in the 3BR is a small room with two twin beds. It's ideal for kids but that is about the extent of it. If buying for extended family you get far more value in two 2BR units. If 4 bedrooms are not needed it is easy and profitable to rent out Ocean Pointe during platinum season.

Two 2BR units also enable you to reserve at 13 months so you get two cracks at a desired week. In the main building the first two floors will not have a view of the water and the third is partial so have two units for the same week also increases the placement priority.
 

hangloose

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Great thought. Only downside is two maint fees. I would want OF, as the OS views aren't quite enough for me at Ocean Pointe.

Where are the 2 bedroom OF villas situated within the buildings?
 

Saintsfanfl

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Great thought. Only downside is two maint fees. I would want OF, as the OS views aren't quite enough for me at Ocean Pointe.

Where are the 2 bedroom OF villas situated within the buildings?

Yes it's two maintenance fees but the point is whether or not you are wanting two twin beds. The fee for the 3BR is considerably higher and that higher fee is solely for the two twin beds. It just depends on what you are after.

In the four main buildings the 2BR OF units are on one corner while the 3BR OF is on the other corner.

OF is great provided you get 4th floor or high. The problem with Platinum during Feb and Mar is it is extremely high owner occupancy and many owners are multi week owners so they have higher placement priority.

There is only one 2BR OF unit and one 3BR OF unit per floor per main building. This means that for each of the 4 check in days there are only 4 OF units of each size checking in that have a desirable view. Take out the multi-week owners that are already in the units and staying over from the previous week and it's possible that there is not a single unit available to check in that has a good OF view.

They built Ocean Pointe so that each OS unit protrudes out further then the one next to it so that all the OS units can see the Ocean provided they are high enough. Ocean Side has a much higher chance of an Ocean View than OF during Feb/Mar.

Is Kingfish suitable?
 

Saintsfanfl

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Looks like several Ocean Pointe weeks posted on the ROFR www.rofr.net database recently. All passed at pretty good price points in my opinion.

Anyone have ROFR info or experience purchasing a 3 bedroom Plat Annual OF? I am looking at one of those. Thinking under $15k is a good price, but wondering now if I could pass ROFR at a lower price point given the recent ROFRs posted at a lower percentage of DC pts worth recently. Could I pass at $12-$14k?

3 bedroom Plat Annual OF
5975 DC pts * $13.32/pt = 79467.50

@15% = $11,920
@17% = $13,509
@20% = $15,893

Other 2Bed Plat OS Annuals have passed recently at just under 15% and just under 16% of their DC pts worth. Would 3 bed Plat OF command a higher percentage/premium to avoid ROFR?

I just found out that my Barony Platinum OS just passed at 8%. That is a confirmed amount and waiver. Don't pay any more than you have to.
 
Last edited:

hangloose

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Thanks. More great thoughts to ponder.

Plan is to obtain an annual week in S. Florida (warm, drivable) for spring break every year (late March/early April). We love Ocean Pointe. Would be our core family (2 adults + 2 kids) with occasional extended family (ie. grandparents, etc). No more than 7 max. My thought was that the extra space in the 3 bedroom would help accommodate extended family and guarantee OF, although I do agree the two twins isn't ideal. For years with no extended family, we'd lock-off, use the 2 bedroom and rent the efficiency. While OS does protrude out with ocean views, I much prefer OF view at Ocean Pointe. This limits me to 2 or 3 bedrooms. With younger kids, we prefer the main buildings vs Kingfish. Later in life, we may prefer Kingfish. In hind sight, I wish my MGV weeks were 3 bedroom vs 2 bedroom. As such, the extra $3-5k and $350 maint fee annually for 3bdrm, seems perhaps worth it for the added space and OF. Especially if I could rent the efficiency and cover a good portion of my maint annually.

Given high owner occupancy at Ocean Pointe, question is...whether I could get 4th floor or higher in OF if booking a single week at 12 months out?
 

hangloose

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My Barony Platinum OS passed ROFR at $4,500


I just found out that my Barony Platinum OS just passed at 8%. That is a confirmed amount and waiver. Don't pay any more than you have to.

Wow! Great purchase!
 

disneymom1

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My Barony Platinum OS passed ROFR at $4,500

I just found out that my Barony Platinum OS just passed at 8%. That is a confirmed amount and waiver. Don't pay any more than you have to.

AWESOME DEAL!!!! May I ask how you found it?
 

Saintsfanfl

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Given high owner occupancy at Ocean Pointe, question is...whether I could get 4th floor or higher in OF if booking a single week at 12 months out?

First you have to get past even being able to book the week you want and then discover the placement issue later. Ocean Pointe is known for being difficult to reserve at even the 13 month mark. If you are after a single spring break week it is not guaranteed. It greatly helps if you can check in Thu or Sun.

I have an uncle that has owned Ocean Pointe since it first opened. Him and his co-owner friends would all shoot for the same string of 4-8 weeks. They would start speed dialing over and over a few minutes before 9 all trying to get a Sat check in for the same starting week. Recent years he would not always get the Sat and would have to settle for Fri or Sun. At 60 days out he would call and could sometimes move to Sat.

Lately it has also been questionable if MVCI is ear marking certain weeks and check-in days for future DC reservations. I've seen evidence of it but there is no way to prove it or do anything about it.
 
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