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Does It Really Take Marriott 3 Weeks for ROFR Review

suzannesimon

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The Title company received my deposit today. He told me we should hear back in 2 weeks. We'll see how close he is.
 

Pens_Fan

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Pens_Fan

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Just got the email from the closing company.

Marriott has waived their rights.

We shall be the proud owner of a reasonably brand new Surf Club gold garden view for $4000.

Oh, how I wish that is how much I paid Marriott for the first one 10 years ago.
 

spaulino

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Just got the email from the closing company.

Marriott has waived their rights.

We shall be the proud owner of a reasonably brand new Surf Club gold garden view for $4000.

Oh, how I wish that is how much I paid Marriott for the first one 10 years ago.

PensFan - Congrats!!!! Glad to hear you got it for a god price and Marriott waived their rights... Woohoo!!!
 

GregT

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Marriott: Maui Ocean Club Lahaina Villas (3BRx5), Ko Olina, Shadow Ridge II, Willow Ridge, Aruba Ocean Club, DC Points HGVC: Flamingo, Sea World, I-Drive, Starwood Bella (x4), SDO, TradeWinds, Worldmark
Hi All,

Here are some info. Took about 10 days to get these through Marriott ROFR. All got exercised:

Desert Springs 2 Plat $4600 15.9%
Desert Springs 2 Gold $1000 4.7%
MGV gold 2BR ODD $1500 9.2%

GregT, please start your analyses. Are we all in line with 23% specially for the DSII plat.

All three would be predicted to have Marriott exercise ROFR as they are below 23%.

Interesting how low the Golds are -- Marriott is getting really inexpensive inventory by ROFRing Golds.

Best,

Greg
 

GregT

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We shall be the proud owner of a reasonably brand new Surf Club gold garden view for $4000.

That's great news and congratulations! I do not believe Aruba weeks can be deposited to the Trust, so it's really hard to predict what will get ROFR'd. That's a terrific price.

Best,

Greg
 

samara64

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That's great news and congratulations! I do not believe Aruba weeks can be deposited to the Trust, so it's really hard to predict what will get ROFR'd. That's a terrific price.

Best,

Greg

I know of 4 or 5 of these MGV gold 2BR ODD/EVEN that went for $1000-$1500 on eBay. They do not fetch more then that on resale market.

Also Shadow ridge and Desert springs are going for same rate. Most of them got ROFR'd.

What really worries me is that Marriott is building the trust with gold/silver/bronze (reads cheap inventory) and getting lots of points to sell for high price.

I remember same thing happened with Worldmark which I also own. When Wyndham bought Trendwest, they started buying cheap undesired resorts and adding them to Worldmark credit inventory at an inflated credit rates. The end results were everyone was competing for the old nice and reasonably priced resorts and the new resorts got lightly utilized. There was a big lawsuit that got settled with Wyndham few years back where they had to take some of the undesired inventory out of Workdmark points pool.

I guess in order to avoid that, either Marriott puts the whole condo (52 weeks) in the trust or the total trust points must have limiting numbers or Plat, Gold and Silver like (50% plat, 30% Gold and 20% Silver).

Hope that does not happen with Marriott.

Sam
 
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suzannesimon

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Just got the email from the closing company.

Marriott has waived their rights.

We shall be the proud owner of a reasonably brand new Surf Club gold garden view for $4000.

Oh, how I wish that is how much I paid Marriott for the first one 10 years ago.


So Pens Fan, did your ROFR take about 30 days? I'm waiting to hear on a Grande Ocean purchase. Thanks.
 

taffy19

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Just got the email from the closing company.

Marriott has waived their rights.

We shall be the proud owner of a reasonably brand new Surf Club gold garden view for $4000.

Oh, how I wish that is how much I paid Marriott for the first one 10 years ago.
Congratulations and you are averaging down the developer price you paid on your first purchase. I am happy for you. :)
 

Pens_Fan

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So Pens Fan, did your ROFR take about 30 days? I'm waiting to hear on a Grande Ocean purchase. Thanks.

29 days. I was starting to wonder.
 

spaulino

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Marriott waived their rights, closing company received it today from Marriott.. it took them 13 days...
 

suzannesimon

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I'm at 15 days and counting now.
 

samara64

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Marriott waived their rights, closing company received it today from Marriott.. it took them 13 days...

Congratulation. Great price. I love MKO and still considering an EOY.

I think EY is a bit much for us since I would use it rather then trade it.
 

taterhed

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Marriott waived their rights, closing company received it today from Marriott.. it took them 13 days...


What did you end up getting?. Congrats!
NEVERMIND. just saw in the other thread. Great job.
Let's trade some year if I get my waiohai


Sent from my iPad using Tapatalk
 
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spaulino

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I'm at 15 days and counting now.

Suzanne - i hope you get your answer soon... Waiting is the worse so I know what you mean. You want the answer so you can close or move on to the next.. And I really dont see what the process is over there because obviously, you have been waiting longer than me and your file was there before mine was so what made them go through mine before the files that were there before mine??? unpredictable for sure... Or are they doing per property and each property gets a different person? makes you wonder.
 

spaulino

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What did you end up getting?. Congrats!
NEVERMIND. just saw in the other thread. Great job.
Let's trade some year if I get my waiohai


Sent from my iPad using Tapatalk

Samara64 - thanks.. I think an EOY is perfect for us as well. I can always lock off and use it for next year..

Taterhed - thanks and yes, definitely. Waiohai and MOC are the ones that interest me as well for future stays. :)
 

suzannesimon

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Still waiting on Grande Ocean - 27 days now.
 

suzannesimon

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It Passed, It Passed!! I'll soon be a Grande Ocean owner. Interestingly, the Right of First Refusal was signed off on May 4. This is the second resale purchase that I didn't "pass" ROFR until I inquired of the closing agent if he had heard from Marriott. Suddenly the documents are emailed.
 

spaulino

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It Passed, It Passed!! I'll soon be a Grande Ocean owner. Interestingly, the Right of First Refusal was signed off on May 4. This is the second resale purchase that I didn't "pass" ROFR until I inquired of the closing agent if he had heard from Marriott. Suddenly the documents are emailed.

Congrats Suzannesimon! That's good to hear! :) I know waiting sucks but good thing it was good news in the end.. :banana:
 

taterhed

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Congrats!
that's a spot to be on my 'visit list' as well!
:whoopie:
 

hapstersmom

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Waiohai 11/2015 ROFR?

I just purchased an IV EOOY at Waiohai for $3007 no CC on resale via eBay (Sean's TS.). I am really happy with the amount I paid, but, I am not sure if it will go through. Checking the DB, it appears to be the lowest number, with a higher amount having failed, but that was 5 years earlier, so...there is hope. I see that Waiohai is listed as 15 days. Anyone have any recent experience with getting ROFR for this resort?
 

hapstersmom

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I just purchased an IV EOOY at Waiohai for $3007 no CC on resale via eBay (Sean's TS.). I am really happy with the amount I paid, but, I am not sure if it will go through. Checking the DB, it appears to be the lowest number, with a higher amount having failed, but that was 5 years earlier, so...there is hope. I see that Waiohai is listed as 15 days. Anyone have any recent experience with getting ROFR for this resort?

The paperwork was sent by the transfer company on Nov. 19; Marriott waived their rights and returned the paperwork on theDec. 3. The sale goes through at $3007 for the Waiohai, Platinum, IV, unit deed in July with 51/52 weeks float.
 

stive1

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I had a MGV not pass ROFR 2 weeks ago. Purchased another MGV last week and heard back today that it passed It probably only took 3-4 days to hear back from Marriott
 

dioxide45

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22 days and waiting. Does Marriott have 30 business or calendar days to exercise ROFR?

It depends on the property. It may be as short as 10 days or as long as 30. Though in all cases it is calendar days.

Check out this link so see how long it is at each resort.

My take is that in most cases where someone has been waiting a long time for ROFR, it isn't Marriott that is at fault. The closing company or seller responsible for submitting ROFR has dropped the ball and either not submitted it, did it wrong, or got an answer and doesn't know it.
 
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