Marriott STOLE my TS

[Steamboat Bill Banned Find all posts View Profile Close Steamboat Bill]

I just found out today that Marriott excercised ROFR on a TS that I had a contract to buy via TimesharesOnly.

It was for Marriott MSE 2 bedroom platinum LO unit in Williamsburgh, VA. The price was $10,500 and I pay all closing costs.

I am a little bummed out right now.

I may consider a MMC (non lock-off) unit or possibly join a Destination Club like High Country Club.

Any online shrinks out there care to offer me some free advice?

[Bill4728 Super Moderator Find all posts View Profile Close Bill4728]

Sorry Steamboat,

It always feels bad when you have committed to buy something and someone snatchs it from you.


Marriott seems to like MSE more than MMC. I've heard of offers of $9000 getting past ROFR for MMC last year.

[ArtsieAng Super Moderator Find all posts View Profile Close ArtsieAng]

Oh, that's too bad, sorry to hear it. I thought that was already a done deal.

Don't get too bummed out, keep your eyes open for another good deal, you'll find one.

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

Does it mean you loss the closing cost?
Jya-Ning

[ArtsieAng Super Moderator Find all posts View Profile Close ArtsieAng]

Bill,

If I were you, I would pay a little more, and get the lock-off, VS non lock-off, for less money. The benefits are worth the extra money, IMHO.

[shopgirl Senior Member Find all posts View Profile Close shopgirl]

I am worried PAHIO is going to buffalo Timeshares Only into believing that they have ROFR.

What point in the process were you in when you got this news?

I have the paperwork here for Shearwater and am getting ready to send our check. I warned the gal that PAHIO will try to say they are exericising their right, but they do not have that right on sales before July of 2005. The new contracts state something about ROFR.

I know that Vacation Solutions and those companies like to say PAHIO has the right, that way they can get more for their ebay auctions and refuse to sell when the price does not get to their desired amount.

[4ARedOctober Super Moderator Find all posts View Profile Close 4ARedOctober]

I thought Boca had a way to get around ROFR and was offering private advice....maybe that was another chain.

Sorry to hear the news.

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

I thought Boca had a way to get around ROFR and was offering private advice....maybe that was another chain.

Sorry to hear the news.

Sorry to hear it Bill, Next time, see me first. You won't lose the deal.

[Steamboat Bill Banned Find all posts View Profile Close Steamboat Bill]

If I were you, I would pay a little more, and get the lock-off, VS non lock-off, for less money. The benefits are worth the extra money, IMHO.

Thanks everybody....I appreciate the posts.

I used TimesharesOnly (Tracy Wetterberg) althought all the paperwork says International Properties GMAC Real Estate. They were very professional and only took a $500 credit card deposit a few weeks ago after we found a seller willing to accept my "low" offer. She offered to refund my CC today, but I told her to hold it for few days and try to make another offer. They seem to have a dozen or so listings. I even visited their HQ 2 weeks ago when I was in ORlando. They have a TON of billboards around the Turnpike and roads of Orlando.

The only reason I am consitering MMC (non-LO) vs MSE (LO) is that I have two young kids and my plans for the next 10 years will to be ALWAYS get a 2 BDR unit. I originally thought I would LO and trade and hope to get 2 weeks of 2BRD units somewhere, but if I travel during school holidays, this may be harder to book long term trades.

MMC is about $3,000 cheaper than MSE and may not get ROFRed as much. The MF is the same. If I am able to trade MMC for Aruba, Hawaii, St Thomas, etc, then all I need is one great week per year trade.

Any other input would be appreciated.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

Bill, sorry you lost your deal but you DO have a very good point.

Buy for what you need now - 10 years is a LONG time in the TS world....and if the little darlings are at that young an age, you will want the 2BR units. And by buying resale now, in 5-6 years you will probably get your money back if not even make a few dollars when you sell it.

I think you can get the original section for 8K and that it will get past ROFR - in fact there may not BE a ROFR for the original section as it was probably built before Marriott started adding it to their contracts.

I am going the opposite way from you...our kids are 23 and 21 so many times we don't need a 2BR - so we now have 2 lock-off Marriott weeks (after selling our 2 non-lock-offs) and will probably purchase another MAR L/O in the future when a L/O location we like is started (Cancun or another Caribbean resort) I sold 2 Foxrun weeks over the past 2 years and have purchased Fairways of the Mountains - same property but 2BR sleep 8 locks off into 2 1BR sleep 4 private.....just works out better for us to have those options.....

[camachinist Super Moderator Find all posts View Profile Close camachinist]

Bill, before moving on, request a copy of the ROFR docs from escrow and verify them with MVCI.

Sometimes all is not as it seems

Pat

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

Bill, I hope Marriott doesn't read your topic title and get angry. After all they really didn't steal your timeshare, they just exercised their contractual option. While I don't particularly favor ROFR in timesharing, it is something we have to live with for a few brands.

[Steamboat Bill Banned Find all posts View Profile Close Steamboat Bill]

Bill, before moving on, request a copy of the ROFR docs from escrow and verify them with MVCI.

Sometimes all is not as it seems

Pat

This is very good advice...I will do this...thanks.

[Steamboat Bill Banned Find all posts View Profile Close Steamboat Bill]

Bill, I hope Marriott doesn't read your topic title and get angry. After all they really didn't steal your timeshare, they just exercised their contractual option. While I don't particularly favor ROFR in timesharing, it is something we have to live with for a few brands.

The title was chosen to get clicks....I am using the word like "He stole second base...he stole the football from the receiver.....he stole the basketball from Shaq...."

If the moderators wants to change the title....I am fine with that.

I reall like Marriott and WANT to BUY....This is just a play on words.

[jaym Member Find all posts View Profile Close jaym]

Bill, sorry you lost your deal but you DO have a very good point.

Buy for what you need now - 10 years is a LONG time in the TS world....and if the little darlings are at that young an age, you will want the 2BR units. And by buying resale now, in 5-6 years you will probably get your money back if not even make a few dollars when you sell it.

I think you can get the original section for 8K and that it will get past ROFR - in fact there may not BE a ROFR for the original section as it was probably built before Marriott started adding it to their contracts.

I am going the opposite way from you...our kids are 23 and 21 so many times we don't need a 2BR - so we now have 2 lock-off Marriott weeks (after selling our 2 non-lock-offs) and will probably purchase another MAR L/O in the future when a L/O location we like is started (Cancun or another Caribbean resort) I sold 2 Foxrun weeks over the past 2 years and have purchased Fairways of the Mountains - same property but 2BR sleep 8 locks off into 2 1BR sleep 4 private.....just works out better for us to have those options.....

I'm in the final phase of closing (been about 6 week process) on MMC.
PP was approx. $9,700 - 2BR, 1 wk., Platinum. Purchased resale from long time owner, through broker, Timesharing 2000, Inc.
ROFR was waived but Marriott does have it for original TS villas. Unless there is specific period that contracts excluded for early owners of MMC that I'm not aware of.
But as we are secondary owners now, ROFR will not be a concern for future resales as primary sale has passed.
During research to buy TS, I was informed by a veteran Marriott salesperson that MSE lockouts w/selling price of less than 50% of developer retail are very desirable by Marriott and strong ROFR candidates.

JR