Original Message:
Re: Advance Fee Timeshare Resale Company Training Material (by Carvan A.):
jayjay wrote:faridah2 wrote:I was also told that if I changed my mind, the developer will repurchase the property from me. But found out later that that was a lie . Anyone in here got any wise words for me? Thanks.The only scenario I can think of in this situation is that some timeshare entities such as Marriott and Disney perform what is called Right of First Refusal or ROFR. These entities require that you notify them first before you sell your week and they make you an offer to buy it back, however I don't know if the offers are anywhere near what you may have paid initially.
The ROFR has nothing to do with what you paid initially. Its purpose is to allow the developer to match any offer you receive on the resale market. It is not activated until you have a firm contract with earnest money from a buyer. The ROFR gives the timeshare management company (Marriott, Hyatt, Disney, and others who have it in their management contract) the right to match the offer you have and buy it out from under the buyer who made you the offer. The purpose is to help protect property values and prevent the resale of a property at a "fire sale" price. It protects the owners but can delay the sale of a property.