Original Message:
Re: Resale Woes.... Orlando Sentinel Article Dec.17,2007 (by Ilona R.):
jayjay wrote:Marriott has been exercising ROFR (right of first refusal) for many years ... this is nothing new. Some owners like it, others don't ... depends on one's perspective.
---------------------------------------- I'm not sure, but I don't think this article is referring to ROFR. That is where--if a contract for a resale has already been initiated, Marriott can step in and "buy it back" for the amount agreed upon. Either way the seller gets the money, this just means that the buyer doesn't get to buy. (tell me if I am wrong...This is my basic understanding...)
However, the article reads: "Orlando-based Marriott Vacation Club now offers to buy back some, though not all, units from those who want out."
This indicating that Marriott will buy it back, in some instances, without someone having to make an offer on the timeshare.
Am I totally off in my understanding of ROFR?? Or in the article? Please correct if incorrect :)