ROFR Exercised/Passed

[Magus]

Pending 7k points 2b/2ba Plat Vegas on the Boulevard 873MF @ $5,750 + MF reimbursement and 5k points Gold 2b/2ba SeaWorld @ $1,950 + MF reimbursement (+3800 carryover points). Will let you know how these go. Fingers crossed, especially the first one.

 

[DannyTS]

Pending 7k points 2b/2ba Plat Vegas on the Boulevard 873MF @ $5,750 + MF reimbursement and 5k points Gold 2b/2ba SeaWorld @ $1,950 + MF reimbursement (+3800 carryover points). Will let you know how these go. Fingers crossed, especially the first one.

how much are the transfer/closing/broker fees for this contract? Thanks

 

[Magus]

$1,048 broker/closing fee on the Boulevard and $934 on the seaworld + HGV transfer fees.

 

[CalGalTraveler]

So the ROFR price on the Blvd will actually be $6623 ($5750 + 873 MF reimbursed). Great price at either price point. It will be interesting to see if it passes this early in the year. Congrats on negotiating a great deal.

 

[natarajanv]

So the ROFR price on the Blvd will actually be $6623 ($5750 + 873 MF reimbursed). Great price at either price point. It will be interesting to see if it passes this early in the year. Congrats on negotiating a great deal.

Some brokers add $349 admin fee, which has to be added as well for ROFR purpose.

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[natarajanv]

$1,048 broker/closing fee on the Boulevard and $934 on the seaworld + HGV transfer fees.

Is the $1048 split as $699 for closing cost and $349 as admin fees?

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[CalGalTraveler]

Some brokers add $349 admin fee, which has to be added as well for ROFR purpose.

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So that would take it to $6972 which is close to $1 a point. Still a great deal because most pay a little over a $1 a point plus closing fees.

 

[cas42021]

When we bought our Platinum 2BR Sea World about a year ago, the brokers we worked with said anything under about $1/point or a little less was a high risk for ROFR exercise by HGVC. We paid $6,500 for the 2BR 7000 point Platinum. For a 1BR, I would think you should expect to pay over $4,000, maybe $4,500 or so.

I have heard that, but I have just seen people get this same contract for 4800pt Annual Platinum for $2000 and it passed ROFR. One was at Elara and the other at Anderson.

The timing may have to be perfect I guess..

 

[cas42021]

Also, it's early in the year so their ROFR budget is robust. You might be able to secure a lower price later in the year when the ROFR budget depletes and they let more pass.

I thought so too, but not the case. I had 2 contracts which were exercised at the end of last year. One in November, the other in December. This last one was something I tried getting in before the end of the year but couldn't.

Seems to be no rhyme or reason to this as I have seen people get this same contract for the same price and it passed ROFR. Definitely seems timing related but not sure what the factors are.

 

[cas42021]

Just cause it sells on eBay doesn’t mean it goes through. What are the successful ones on ROFR.net go for?

I understand not every listing on eBay passes. I am specifically referring to the people on this forum who purchase on eBay and post their deals here advising they pass ROFR.

There is currently no 1BR Platinums for SeaWorld on ROFR to reference. A 1BR Gold passed last November for $1.99

 

[Finsadbel]

I would suggest using a broker someone has used before with success. We used David Patchanian and he was very knowledgeable about all properties we were interested in. He let us know at the end of last year that the ELARA wasn’t exercising ROFR and he was right! We picked up an ELARA 5000 Annual Points for $1,000 and it passed ROFR. Good luck!


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[Panina]

Annual 1BR Platinum at SeaWorld for $2000 just failed ROFR. I believe it was submitted to them a week ago. 3rd try, 3rd ROFR exercised. Different property each time. I didn't find out till after the seller accepted my offer, they were including 4600 rescued points, so would have had 9400 point usage for 2019. Would have been a nice trip to Hawaii.

I just got this added to ROFR.net

Anyone have any tips for me? Am I just offering too little? I swear I see people getting deals like this or better off eBay, and Hilton waives. What am I missing here?

You can go for an affiliate with no rofr. Mf for some are higher but if you buy an affiliate that you might use some of the time it is guaranteed. I got a 4800 point affiliate on eBay for fee, including closing costs and one year mf for free.

 

[cas42021]

You can go for an affiliate with no rofr. Mf for some are higher but if you buy an affiliate that you might use some of the time it is guaranteed. I got a 4800 point affiliate on eBay for fee, including closing costs and one year mf for free.

I tried an affiliate, and although Hilton did not have ROFR, the developer did..and they ended up exercising on it. I do know some affiliates have no ROFR, like Flamingo.

Which one did you get?

 

[Panina]

I tried an affiliate, and although Hilton did not have ROFR, the developer did..and they ended up exercising on it. I do know some affiliates have no ROFR, like Flamingo.

Which one did you get?

Which affiliate? The affiliates I got with no rofr and no developer to take were, Eagles Nest Marco Island, Surf Club Marco Island and Plantation Beach Club at Indian River. I also got a mandatory where rofr could be exercised, Anderson Myrtle Beach, was surprised I got it.

 

[cas42021]

Which affiliate? The affiliates I got with no rofr and no developer to take were, Eagles Nest Marco Island, Surf Club Marco Island and Plantation Beach Club at Indian River. I also got a mandatory where rofr could be exercised, Anderson Myrtle Beach, was surprised I got it.

Wow!! How many HGV points do you own? That's an impressive portfolio lol I'm just trying to get one ha ha

I was trying to purchase Ocean 22 in SC and the developer exercised ROFR on me.

 

[Panina]

Wow!! How many HGV points do you own? That's an impressive portfolio lol I'm just trying to get one ha ha

I was trying to purchase Ocean 22 in SC and the developer exercised ROFR on me.

Doesn’t surprise me with Ocean 22, Anderson would be easier. My Anderson week is 8400 points that I use for trading. I got for free from eBay the Plantation 4800 pt, from a generous tugger Surf Club worth 3500 points, paid for my Eagles Nest and Surf Club winter flex weeks which can get up 5000-7000 points depending on the week. I like the affiliates so much that I use them thus the reason I got the Anderson week.

 

[dayooper]

I have heard that, but I have just seen people get this same contract for 4800pt Annual Platinum for $2000 and it passed ROFR. One was at Elara and the other at Anderson.

The timing may have to be perfect I guess..

I think it depends on the resort. HGVC seems to let more Elara pass then Boulevard. I don’t think they are as aggressive with ROFR at Anderson as they are at other resorts.

 

[cas42021]

Doesn’t surprise me with Ocean 22, Anderson would be easier. My Anderson week is 8400 points that I use for trading. I got for free from eBay the Plantation 4800 pt, from a generous tugger Surf Club worth 3500 points, paid for my Eagles Nest and Surf Club winter flex weeks which can get up 5000-7000 points depending on the week. I like the affiliates so much that I use them thus the reason I got the Anderson week.

Makes sense. Anderson has relatively low MF's too, which is great!

 

[cas42021]

I would suggest using a broker someone has used before with success. We used David Patchanian and he was very knowledgeable about all properties we were interested in. He let us know at the end of last year that the ELARA wasn’t exercising ROFR and he was right! We picked up an ELARA 5000 Annual Points for $1,000 and it passed ROFR. Good luck!


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Thanks! For the last 2 contracts I used a broker. One that is advertised quite a lot on here. In all fairness, the broker did warn that Hilton would most likely exercise on the SeaWorld contract, and they were right.

Even though the purchase price was only $2000, I'd still need to pay around $600 closing costs, $409 transfer fee, $62 estoppel, etc..so total amount was well over $3000. Another reason for the debate on what should be posted on rofr.net

 

[CalGalTraveler]

@cas42021 I am sorry but I am having a hard time feeling sorry for your ROFRs because you are paying well under the rule of thumb - $1 a point plus closing fees. < $3000 is a screaming deal for 4800 platinum points so you should not be surprised (or depressed) that it did not pass.

Perhaps you should consider the poor owner who is at the butt end of your extreme bargain hunting who will get less than the rule of thumb (This could be you someday when you sell.)

And HGVC who wins in the end because you were their tool to perform all of their hard work in negotiating down this owner so they can pick up inventory for next to nothing.

You have two choices:

1) Pay the rule of thumb and get on with your life (and vacations). You are talking about $2500 difference over a 10 / 20 year life of the property or ($250/$175 a year). Compared to saving tens of thousands on retail, this amount of money is splitting hairs and not worth spending excessive time bargain hunting and missing vacations with my family.

2) Be patient and keep going with lowball offers. Accept that you are bottom-feeding and will get a lot of rejections. One will eventually hit if you are patient but it could take a year or more. If you have to negotiate such extreme offers because you cannot afford $2500 to get it to market rate, then perhaps you cannot afford a timeshare.

 

[cas42021]

@CalGalTraveler wow, that's pretty judgy of you. First of all, I am not asking anyone to feel sorry for me, nor am I surprised or depressed these didn't pass.

As for the sellers, they were motivated enough to sell at the prices we agreed on, there was very little work, if any, to get to these prices. I feel sorry for no one here, myself included.

This site/forum is for people who want the best deal possible. I have been following long enough to know what a great deal is, and what is a regular deal. I am in the market for a great deal. Trust me, my family and I are not missing out on vacations until I'm a HGVC member. It would be a nice addition to the traveling options we already have in place, but will not be our only option. Is it something I'd like? Yes. Is it something I need? No. Because of that, I will offer what I am comfortable offering until I get what I want. No rush here.

Thanks for your concern about what I can afford, but clearly that's none of your business. I can afford to buy directly from Hilton at retail prices, does that mean I should?

Sorry my situation struck such a nerve with you. You sound like you must have gotten a terrible deal on one of these and still remain bitter about it. Trolling these forums for people who have gotten a great deal or people who are looking for one won't make it any better, I promise.

 

[CalGalTraveler]

@cas42021 Nope, no bitterness at all. You sounded surprised in your posts that your deals were ROFRed. Here is a broader context help you understand what's going on:

Some owners are financially stable, or may be desperate due to life circumstances, and don't care about a few thousand so just want out quickly. They purposefully set a lowball price knowing so that it will attract an offer quickly but know that it will ultimately get ROFRed by HGVC.

Sometimes selling to a resale buyer can take months to close and involve headaches - they would rather sell to HGVC. They don't care as long as a buyer can sign an offer so it gets submitted to ROFR because the price is low enough that they are reasonably certain HGVC will ROFR it and take it off of their hands quickly. Ebay is one low cost way to do this. So perhaps the owners are accepting your offers with the intent to sell back to HGVC quickly. HGVC also wins because you are doing HGVC negotiation dirty work for free.

In this case you may think you are negotiating a great deal for yourself but both the owner and HGVC are gaming you. Sometimes crumbs fall through the cracks and you end up with a great deal - if you are willing to expend your time trying then that is your choice.

Others are comfortable with the fact that resale buyers save tens of thousands off retail so paying a bit more to get to $1 a point with certainty so they can move on with their life vs. stressing over saving a thousand or two for a 20 year purchase that doesn't move the needle. That's all.

 

[tombanjo]

Slightly off topic, but the irony is, if someone asks HGVC to buy back a unit, they seem to only be willing if the person spends tens of thousands on an "upgrade", which is not really what most sellers have in mind when they want to get out from under a timeshare. So, buy accepting an offer the seller gets the unit sold in any case, which was their intent. They don't have to accept any offer. In fact, as we all know, people spend thousands on fraudsters in the misbegotten hope of getting out of their units. Whether the buyer is HGVC or the person who makes the offer makes no difference as the unit sells at the price agreed by the seller.

 

[Finsadbel]

Thanks! For the last 2 contracts I used a broker. One that is advertised quite a lot on here. In all fairness, the broker did warn that Hilton would most likely exercise on the SeaWorld contract, and they were right.

Even though the purchase price was only $2000, I'd still need to pay around $600 closing costs, $409 transfer fee, $62 estoppel, etc..so total amount was well over $3000. Another reason for the debate on what should be posted on rofr.net

I hear ya on all the fees! The only reason I mention David is he was generous with his time and on top of what the market was doing at the time we purchased. Using him as a broker was how we knew what to offer on what property, knowing ahead of time what to expect.


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[CalGalTraveler]

Slightly off topic, but the irony is, if someone asks HGVC to buy back a unit, they seem to only be willing if the person spends tens of thousands on an "upgrade", which is not really what most sellers have in mind when they want to get out from under a timeshare. So, buy accepting an offer the seller gets the unit sold in any case, which was their intent. They don't have to accept any offer. In fact, as we all know, people spend thousands on fraudsters in the misbegotten hope of getting out of their units. Whether the buyer is HGVC or the person who makes the offer makes no difference as the unit sells at the price agreed by the seller.

HGVC will buy back certain "HGVC owned" properties without an upgrade. If not you can lowball an ROFR sale to move it as described in my prior post if there is ROFR on the property. Some low value units and affiliates they won't buy back and won't upgrade so you will need another exit strategy such as giving it away or selling on the open market.