Right of First Refusal

AFJAY · Nov 12, 2008

We are working on purchasing a resale, Las Vegas Gold, 2 Bedroom, 5000 points, Every year, for $ 6000.

Agent says we have a 60% chance of this going through.. with Hilton,

Anyone have any idea on how aggressive Hilton is stepping in on these deal ??

Thanks

AF Jay

Talent312 · Nov 12, 2008

Who knows what the gnomes staring at their computer screens in the cubicles will do?
But I'd say that you've got a decent shot. It may depend on how many similar units they already have in inventory and expect to move in the near term. Given this economy, they prob'ly have plenty of like-units on their books, not going anywhere, just sitting there, that they'll pass on yours.

Blues · Nov 12, 2008

In this economy, I'd say it's almost certain. $6000 for 5000 points, while a decent deal, is really not out of the ordinary.

richardm · Nov 13, 2008

Hgvc Rofr....

Hilton has been EXTREMELY aggressive on platinum ownerships and has been buying these at unprecedented levels- but hasn't shown the same interest in other seasons.

For a 2br Gold, I believe at $7k- you wouldn't have to worry, but at $6k- you're pushing the envelope just a little. Your agent is probably spot on that it could go either way...

(Don't worry unless you are already trying to make plans for your next holiday- this simply means you've made a great offer! If you were confident you'd pass- you'd simply worry you paid too much!)...

Worst case scenario- find another seller and try again...

Congrats!

kool_kat · Nov 13, 2008

I just purchased a 2 br, 5000 points for $6,300. However, it was at the Flamingo with no ROFR. But that gives you an idea at what the going prices are right now. I could have also got the same thing at LV Hilton for the same price.

sjuhawk_jd · Nov 13, 2008

How ROFR works at Hilton

If an ebay reseller submit documents for a transfer (sale) to Hilton, does the contract is to be backed by the entire payment (with a check or cashier's check), just a deposit, or no payment (just a contract). This is for ROFR considerations.

How long is it taking for Hilton to reply back?

Talent312 · Nov 13, 2008

Rewritten for coherence:

sjuhawk_jd said:
If a [seller] submits a [transaction] to Hilton [for a ROFR review], does the contract [have] to be backed by the entire payment (with a check or cashier's check), just a deposit, or no payment (just a contract)?
How long [does it take] for Hilton to reply back?

1. A "Request for Waiver" form is submitted along with a copy of the parties' sales contract. No proof of payment or proof of is required at that time; however, the documents must show what sum have been and what remains to be paid.

B. As stated earlier, it takes 2 - 3 weeks for Hilton to respond

sjuhawk_jd · Nov 13, 2008

Thanks!

Talent312 said:
Rewritten for coherence:

1. A "Request for Waiver" form is submitted along with a copy of the parties' sales contract. No proof of payment or proof of is required at that time; however, the documents must show what sumd have been and what remains to be paid.

B. As stated earlier, it takes 2 - 3 weeks for Hilton to respond

Thanks Talent312 for taking the time to clean my post and providing the necessary info . I am a bit confused about the word "sumd" in your reply. Maybe you can make that coherent as well :wall:

Talent312 · Nov 13, 2008

sjuhawk_jd said:
I am a bit confused about the word "sumd" in your reply. Maybe you can make that coherent as well

Sure. The word was misspelled and should read, "sums." :doh:

Socko33 · Nov 13, 2008

In August, I got a 5000 Gold Las Vegas on the Strip for $6000

Passed with no problem

Good luck!

ctyatty · Nov 16, 2008

Ebay Hilton 3400 points

Item number: 300272861605

the listing says MF are 570.92.

Auction ends in an hour or so, price is at $1625 plus closing costs, sounds like anything under $3000 would be a deal???

tombo · Nov 16, 2008

The auction was won for $1850.

Seth Nock · Nov 16, 2008

The 5000 point unit @ $6000 should pass. The 3400 point unit @ $1800 should be bought back under right of first refusal. However, sometimes Hilton will surprise us. You must read the details from the EBAY seller. Some will take the entire purchase price by credit card and then refund either the entire purchase price or the entire purchase price minus a service fee if it gets bought back. Others will just ask for a deposit. Also, you may want to make sure the EBAY seller owns the unit or is a licensed broker before giving them any money. This will protect your rights. I hope this helps.

ctyatty · Nov 16, 2008

If PCC knows the going rate for ROFR why don't they just make up some paperwork and avoid eBay all together??

Also how do they get the points to begin with if Hilton does the ROFR?

Talent312 · Nov 16, 2008

ctyatty said:
If PCC knows the going rate for ROFR why don't they just make up some paperwork and avoid eBay all together? Also how do they get the points to begin with if Hilton does the ROFR?

They usually "get the points" with a contract and power of attorney, not an actual sale.
They sell units that suckers paid them a "fee" to make the units disappear, so these "brokers" don't really care what the sell for. That's not to say that collusion to get a sale past ROFR does not happen.

Carlsbadguy · Nov 16, 2008

I just had a 5,000 point Hilton New York City Points package pass ROFR for $6,500.

Seth Nock · Nov 17, 2008

howard said:
I just had a 5,000 point Hilton New York City Points package pass ROFR for $6,500.

Are you are aware that that is not a deeded resort and as a result they are bought back at different figures.

tombo · Nov 17, 2008

Right now only Disney appears to be exercising ROFR regularly, and even they might start cutting back if the economy doesn't improve. The simple fact is that developers don't want to acquire more inventory that they can't sell. The buyers are few and the financing has dried up. Buy any week you want as cheap as you can get it, and most (if not all) of your purchases will pass ROFR. This is the best buyers market for resale timeshares that there has ever been IMO.

AFJAY · Dec 2, 2008

Hilton exercises ROFR on 4 props, but I'm still waiting for an answer.

Spoke with our rep today, and she was hoping to have an answer from Hilton today, but it didn't come back. She did get 4 back from Hilton, but not mine. She did say though that Hilton did exercise Right of First Refusal on those 4. 3 were platinum and one was Gold. Do not have any further details.

Blues · Dec 2, 2008

Good luck! I still think you have a good chance.

AFJAY · Dec 3, 2008

Got Las Vegas Hilton on the Strip EY 5000 for 6k

Got the news today that Hilton Waved ROFR on our bid, so we are moving forward on closing on Las Vegas on the strip 5000 points, every year for 6,000, maint. fees have already been paid for 2008 and the owners didn't use 2008 5k points, so we'll get those.

So soon we'll be owners... agent was not sure if it would go through, since previous day Hilton did buy back 4 of the properties that she was trying to broker.

We are scheduled to go to Hawaii on the VIP package that we did buy in Las Vegas last year for 1,900 for a one time 7k points, I wonder if, since we will soon become owners if we will have to attend the presentation in Hawaii ?

Thanks for all the info you all provided and I am sure will continue as we learn all about ownership... AFJAY

UWSurfer · Dec 3, 2008

Congratulations!

I have yet to set foot into a timeshare property where they didn't attempt to get me to attend a presentation. Once you own they are called owners updates, but they are just another presentation.

Since your purchase of the 7000 points was contingent on attending another, just plan to go with a big 'ol smile on your face that you are now a new owner who purchased resale and you have no intention on purchasing.

DON'T TELL THEM WHAT YOU SPENT until THEY ASK! Once they do, you have license to then tell them you now know the resale market and would never buy from the developer knowing what prices are. Be respectful & polite...but using that tact will shorten the presentation significantly so long as you are sincere. It's worked for us repeatedly.

Again Congratulations!

eugeneleemd · Dec 3, 2008

ROFR for HHV

so i just purchased an odd yr (EOY) 6200 pt HHV lagoon tower platinum 1 bedroom for the ridiculous price of 5100. should i get my hopes up that it'll pass muster??

Sandy VDH · Dec 4, 2008

Since it is an EOY I would think so. In general you only get an average of 3100 every year, (6200 every other year), so a $1.50 - 2.00 point based on annual usage you are fine, and I would think you should pass FOFR.

The only reason I could see that may take it, is that there is now new sales at the same location at Hilton Hawaiian Village now that the Grand Waikikian has opened. But on the other hand they have plenty of inventory for sale anyway.

rohrbatn · Jan 20, 2009

Does anyone know what the approximate ROFR price might be on a 5000 point unit at the Hilton Orlando International Drive resort? It would be helpful to know as I'm considering making an offer on one. Thanks.

Right of First Refusal

AFJAY

Talent312

TUG Review Crew: Veteran

Blues

TUG Review Crew

richardm

kool_kat

sjuhawk_jd

Talent312

TUG Review Crew: Veteran

sjuhawk_jd

Talent312

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Socko33

ctyatty

tombo

Tug Review Crew: Rookie

Seth Nock

ctyatty

Talent312

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Carlsbadguy

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Seth Nock

tombo

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AFJAY

Blues

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AFJAY

UWSurfer

Tug Review Crew

eugeneleemd

Sandy VDH

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rohrbatn