Marriott right of first refusal

When a resale week is posted on RedWeek and is pending or sold how can one know if Marriott has exercised their right of first refusal or not?

Needs to be completed BEFORE sale. Only way to know if this sale/transfer has been officially ok'd by Marriott, is to either call Marriott Owner Services or call the seller and obtain the actual document showing that Marriott has processed its ROFR (Right of First Refusal). Hope this helps. Not such a bad process but required. We did a sale several years ago.

Thanks

Of note, the ROFR process is initiated during the closing process - that's after a sales contract has been signed. This is the first thing done by the closing company.

MVC has displaced us as the buyer a few times. At times, I've even paid more than the ask to increase the chance of passing the ROFR hurdle.

I would be interested to know how many of the Ebay deals get through the ROFR process.

MVC is horrible. I actually gave them back for free 3500 points just to get out of it. I kept 1500 and love going to the sales office for free points and explaining to them what I think of their business.

So Marriott IS really buying these as people like me are about to close on a timeshare re-sale? The sales person said that and I wasn't sure if it was a tactic to get us to buy the points. Made sense that they want them back but was hoping it was a tactic. TIA.

We never know when Marriott will exercise their right of first refusal, but it certainly is not 100% of the time. :) It seems to depend on Marriott's current inventory level and the sales price.

I have a week at Lakeshore Reserve that I was trying to work with the resale department, they offer no money to sell it thru them. We paid 30k+ and now they expect me “give” it back to them for no cash value

I had the same responce from Marriott when I asked how to sell it back to them. When we baught our time-share years ago they told us the price would increase and it was a good investment. No way, they want you to give it back for free!

robertv407 wrote:

I had the same responce from Marriott when I asked how to sell it back to them. When we baught our time-share years ago they told us the price would increase and it was a good investment. No way, they want you to give it back for free!

Well, as you found out the hard way, timeshare sales people are notorious for lying or telling half-truths during the sales presentation. One of the biggest lies most sales people tell in order to get you to buy is what you said above. Unfortunately, if you read the contract you signed, it will say that what the sale person said has no weight, only what is written in the contract. And it's possible that the contract (in those dozens of pages) somewhere said that your purchase would not increase in value.

So if you want to get rid of it, you will have to swallow that hard pill and give it back for free unless you think it has some resale value. If you think you can get some money for it, then list it on a reputable timeshare resale site like here on RedWeek, E-Bay, Craigslist, or Timeshare Users Group (aka "TUG").

We bought 3,500 points at an auction for $2,500 and Marriott did not exercise the ROFR. We were sweating bullets until Marriott's deadline passed.

Can you explain how you bought points at auction? I've not heard of that before.

I have purchased a good number of MVC week units and with most resorts, the ROFR is only exercised when purchasing the prime season. For example, if you purchase one at Marriott's Desert Springs Villas-DSV (they have resorts I and II), if you are buying DSVII, the ROFR is only exercised if you purchase the Red season (winter/spring) and purchase it under $3,250 is the current level. At my latest check, buying any Red Week at $3,250 or above and they will pass on their ROFR. If you buy the white or blue seasons, they do not exercise the ROFR, even at $1 purchases.

However, if you buy DSVI, they do not have ROFR options; thus, no matter what you buy it at, it becomes your property. The closer does not have to send it to Marriott for their option to purchase it at the sales price.

Hope that helps.

It’s self reported, so it’s neither a 100% view nor even always 100% accurate, but http://www.rofr.net/ Is a great resource for this if you want to see some ROFR activity.

Much as DWellser describes above, though: Marriott has a good idea what will sell and what won’t : they are trying to make money and so they will buy back anything via ROFR if their data shows they can resell it at a profit with sufficient margin. Trying to find out what the MVC “value” is attached to any particular deed is an almost impossible task, though, because they seem to be really inconsistent (like “$3/pt passed, $3.90/pt failed” for points off reported sales this year).

I am selling 2500 MVC destination Points, I had a buyer who offered $5000 plus he would pay closing and transfer cost. Marriott exercised their ROFR on the sale. The buyer is supposed to pay closing costs, but now when the escrow paperwork come in they will only pay$500 and expect me to pay $3000! any advise Please!

Marriott charges several fees when MVC Points are sold (transferred) between seller and buyer. Those fees include $500 processing fee, $95 ROFR fee; and a transfer fee of $3 per point. So, if you are selling 2,500 points the transfer fee alone is $7,500. Marriott has also raised their maintenance fees considerably over the past 10 years. Currently, the maintenance fees average approximately 81 cents per point. So, on 2,500 points the maintenance fee would be approximately $2,025. I've seen many listings on RedWeek where sellers are offering their MVC Points for less than $1 per point. If you were to purchase MVC Points directly from Marriott they are charging approximately $16 per point. Just understand... that the MVC Points will be worth almost NOTHING whenever you want to sell them. So, be wise when considering purchasing MVC Points directly from the resort. As far as the ROFR, I do not know how many of these points are bought back by Marriott. My thinking is... as long as they are making an additional $3 per point on resales, and they probably have a nearly unlimited supply of points to sell, they will probably let the sale go through on most of these re-sales.

Johne818: Your post is confusing. You stated that Marriott exercised their ROFR. If that is true, then your original buyer is off the hook. The closing costs are between you and Marriott (who is now the buyer). Why is Marriott charging you $3,000?

johne818 wrote:

I am selling 2500 MVC destination Points, I had a buyer who offered $5000 plus he would pay closing and transfer cost. Marriott exercised their ROFR on the sale. The buyer is supposed to pay closing costs, but now when the escrow paperwork come in they will only pay$500 and expect me to pay $3000! any advise Please!

Good question. We posted our 2BR Surf Club Oceanside for 11,900.00, had a buyer and Marriott excised their ROFR yesterday. Good for us but not for the buyer.

justicem7 wrote:

I just got an amazing deal reselling my westgate resort timeshare using the help of a credit guy youtuber . [Deleted bogus contact info here] got us an incredible amount on our investment back. His methods are a major finesse of the system. He sort of knows their secret.

This is just pure, unadulterated bull$h*t. Westgate timeshares are essentially worthless in the resale market, so this bogus claim about “getting back an incredible amount”, while somewhat humorous, has ZERO credibility. Nice try to get free advertising, but don't insult our intelligence. Just go away.