The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!
Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
TUG started 30 years ago in October 1993 as a group of regular Timeshare owners just like you!
TUG has now saved timeshare owners more than $21,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!
60,000+ subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!
at timeshare presentation this week, the salesman said that Marriott always exercised the first right of refusal on contracts, to buy the timeshare back; what has been the experience of some of you in last several years, concerning buying resale?
thank you
Jerry Whitfield
winston salem NC
Not true at all. Marriott will excercise ROFR if they feel that the price is low (week and points) or it is a week that they want for their inventory/trust, otherwise they will pass on it.
It works the same for all timeshare brands/companies when it comes to exercising ROFR.
Salespeople will say anything to encourage a potential buyer to buy from them instead of looking at the resale market.
at timeshare presentation this week, the salesman said that Marriott always exercised the first right of refusal on contracts, to buy the timeshare back; what has been the experience of some of you in last several years, concerning buying resale?
thank you
Jerry Whitfield
winston salem NC
at timeshare presentation this week, the salesman said that Marriott always exercised the first right of refusal on contracts, to buy the timeshare back; what has been the experience of some of you in last several years, concerning buying resale?
thank you
Jerry Whitfield
winston salem NC
First mistake of timeshare presentations - believing anything the salesman says!
Imagine if they did always exercise. I might arrange something like sell my timeshare to say nitemaire, and, he might sell his to me. I'll put a contract price of $100,000, and so will he. Marriott buys both. Great for us!
First mistake of timeshare presentations - believing anything the salesman says!
Imagine if they did always exercise. I might arrange something like sell my timeshare to say nitemaire, and, he might sell his to me. I'll put a contract price of $100,000, and so will he. Marriott buys both. Great for us!
Exactly, it just shows how absurdly stupid a statement can be, and yet, people don't step back and think.
It also shows how brazen salespeople can be. They have no scruples, to be able to make such a patently false (and impossibly true) statement without batting an eye.
Absolute nonsense. His lips must have been moving.
I've sold 3 timeshares in the past two years (privately) and although you "must" submit a rofr form to Marriott...they never exercised their option. Actually they passed on them in less than 10 days of submission.
Mike
I might arrange something like sell my timeshare to say nitemaire, and, he might sell his to me. I'll put a contract price of $100,000, and so will he. Marriott buys both. Great for us!
I've sold 3 timeshares in the past two years (privately) and although you "must" submit a rofr form to Marriott...they never exercised their option. Actually they passed on them in less than 10 days of submission.
Mike
I am assuming that you mean "they never exercised their option" on your three sales. Marriott does, in fact, frequently exercise ROFR if the price is right. Saying they "never" exercise is just as wrong as the sales folks saying they "always" exercise. Not trying to be picky on wording, but I wanted to make sure a reader didn't get the wrong impression from your wording and come away with the impression that Marriott doesn't actively exercise ROFR, because they do.
I am assuming that you mean "they never exercised their option" on your three sales. Marriott does, in fact, frequently exercise ROFR if the price is right. Saying they "never" exercise is just as wrong as the sales folks saying they "always" exercise. Not trying to be picky on wording, but I wanted to make sure a reader didn't get the wrong impression from your wording and come away with the impression that Marriott doesn't actively exercise ROFR, because they do.
Davidel,
that's exactly what I meant.
They never exercised their option on "my 3 sales" I didn't think it was confusing...but I'm not a wordsmith either.
With regard to Marriott's rofr.....there seems to be no rhyme or reason as to how or why they exercise on some...but not on others. If you go back through Greg T's historical spreadsheet on ROFR particularly OP, Marriott passed on units being sold for 23K but bought back a unit for 25K. Of course this was back several years ago and I doubt if you will ever see those prices again at least at OP. Possibly Hawaii....
If I did confuse anyone...I apologize.
Mike
PS: Greg's sheet is very informative (for all resorts). I just don't think that everyone that sells takes the time to post on it. It would be even more helpful if they did.
PS: Greg's sheet is very informative (for all resorts). I just don't think that everyone that sells takes the time to post on it. It would be even more helpful if they did.
Just want to make sure you have the most current data on this. The most current I believe is not the old spreadsheet GregT used to maintain, but is the web site http://www.rofr.net That may have been what you were referring to, but just wanted to make sure you have the most current data.
I don't recall a spreadsheet that Greg maintained. There was a period of time between the old ROFR site that I had hosted on Tripod and the new site. During that time Greg started the current thread that is now a sticky. Perhaps that is why it is being referenced here as "Greg's sheet?"
The rofr.net site is of course only as good as the data that people provide. It certainly isn't foolproof and it is always hard to know what a week was actually submitted for as it isn't very often that the buyer actually gets to view the waiver.
A Marriott salesperson giving false information. I'm shocked. SHOCKED!
Jerry, that you were asking Marriott about ROFR means you knew that if you buy timeshare, buy it resale. Good for you!
So when the time comes to buy your first Marriott resale week, please remember this advice - don't let the thought of ROFR enter your mind when you make the purchase offer. Marriott is going to do whatever they decide to do. There have been crappy weeks selling for $1 that pass ROFR and great weeks that sell for $10K that fail ROFR. What fails at $1K this week may pass at $1K next week.
Meanwhile, definitely visit rofr.net and you will see that Marriott very rarely exercises ROFR anymore. I tend to use the data from that sire to give me an idea of the ground floor value of a week (provided the data is recent).
So when the time comes to buy your first Marriott resale week, please remember this advice - don't let the thought of ROFR enter your mind when you make the purchase offer. Marriott is going to do whatever they decide to do. There have been crappy weeks selling for $1 that pass ROFR and great weeks that sell for $10K that fail ROFR. What fails at $1K this week may pass at $1K next week.
Meanwhile, definitely visit rofr.net and you will see that Marriott very rarely exercises ROFR anymore. I tend to use the data from that sire to give me an idea of the ground floor value of a week (provided the data is recent).
While not worrying about ROFR may be good advice for some weeks - you can always move on to an offer on another week - it may not be good advice for hard to find weeks. For example, we started looking for a 2BR EOY Odd OV at Maui Ocean Club last September. Made a couple offers on weeks at "our price" that were declined. Had issues finding EOY Odd OV weeks at all. Finally, found one that we were able to get an accepted offer at a price we were comfortable with. We felt we had to be aware of ROFR and try to get a deal at a price that would most likely pass ROFR, because we weren't sure how easy it would be to find another EOY Odd 2BR OV at MOC. We didn't want to deal to fail and we have to start all over. Getting the deal done was more important than getting the absolutely lowest price possible. We passed ROFR at $8000 and closed in February.
As it turns out, I haven't seen another EOY ODD OV 2BR MOC near the price we got since. So I'm happy we we aware of ROFR and didn't have to start all over again.
Just want to make sure you have the most current data on this. The most current I believe is not the old spreadsheet GregT used to maintain, but is the web site http://www.rofr.net That may have been what you were referring to, but just wanted to make sure you have the most current data.
Yes Jim, that was the sight that I was referring to. However, as Dioxide implies...it's really only worth the truthful data that people put into it. My gut tells me that there are many many more transactions that are never entered into Greg's database. Possibly because people are not aware of it.
Yes Jim, that was the sight that I was referring to. However, as Dioxide implies...it's really only worth the truthful data that people put into it. My gut tells me that there are many many more transactions that are never entered into Greg's database. Possibly because people are not aware of it.
Just to note, it isn't really Greg's database. It is of course a tool for all Tuggers, or anyone buying or selling a timeshare. It was developed by @Jpollo and myself.
Just to note, it isn't really Greg's database. It is of course a tool for all Tuggers, or anyone buying or selling a timeshare. It was developed by @Jpollo and myself.
I second the kudos and thanks. It is a tremendous resource. If Marriott and Hilton were more predictable with their ROFR decisions, it would be priceless.
Not true at all. Marriott will excercise ROFR if they feel that the price is low (week and points) or it is a week that they want for their inventory/trust, otherwise they will pass on it.
It works the same for all timeshare brands/companies when it comes to exercising ROFR.
Salespeople will say anything to encourage a potential buyer to buy from them instead of looking at the resale market.
So, if we buy Marriott destination points from someone selling, our cost would be the points themselves, plus $500 per "share" directly to Marriott to get us into the system, plus an education fee? The "shares" 250 points. We are interested in getting into the destination points system, but are concerned that buying direct from seller might affect our abilitiy to make reservations on the Marriott site. Can someone speak to this?
So, if we buy Marriott destination points from someone selling, our cost would be the points themselves, plus $500 per "share" directly to Marriott to get us into the system, plus an education fee? The "shares" 250 points. We are interested in getting into the destination points system, but are concerned that buying direct from seller might affect our abilitiy to make reservations on the Marriott site. Can someone speak to this?
It has been reported that the junk fees are now up to $3 per point, which would make it $750 per 250 points, plus some other small fees. After paying all the fees to MVC, the resale points work and behave like points bought directly from MVC.
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
