Marriott ROFR info requested

[gores95 Junior Member Find all posts View Profile Close gores95]

Well we put the $1000 deposit down with the broker on Friday so we hope to hear from the owner today. Our last deal fell through when the owner had second thoughts so hopefully two times is the charm! Hopefully we will hear today that the owner also signed and that the contract was submitted to Marriott.

Anyone know how long Marriott typically takes to review SC ROFR's?

Thanks,

Marc

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

Marc,

Good luck. I hope that it works out for you this time.......I think that ROFR can take anywhere from 10-30 days.

[m61376 Senior Member Find all posts View Profile Close m61376]

Well we put the $1000 deposit down with the broker on Friday so we hope to hear from the owner today. Our last deal fell through when the owner had second thoughts so hopefully two times is the charm! Hopefully we will hear today that the owner also signed and that the contract was submitted to Marriott.

Anyone know how long Marriott typically takes to review SC ROFR's?

Thanks,

Marc

Marc- They have up to 30 days. From what I've been told is that ones that are straight yes or no generally take under a week. However, sometimes they get backlogged- which seems to work in your favor. It takes a bit longer, but if their desk gets swamped they tend to pass on more. Again- this is what I have been told, certainly not gospel- is that the longer it takes (unless they are simply swamped) the less likely it will pass. Those are the ones that get reviewed higher up the food chain, so to speak.

Your agent , btw, is excellent, and she keeps track of how backlogged they are, so if you don't hear in a week you can send her an e-mail just asking for an update. She actually knows, on a particular date, what date they are up to reviewing. The same hald true for once our final paperwork was in Marriott-land. Working with Shelley, especially for a first time buyer, was such a pleasure. You are in good hands.

[gores95 Junior Member Find all posts View Profile Close gores95]

Just to update this thread, I emailed the broker last week and she mentioned she had contacted Marriott and the deal is slated to pass ROFR! She had told me weeks ago that it would be decisioned before 1/1/07 since Marriott's new $75 waiver fee begins on that date. Looking at it from Marriott's standpoint why not wait until after the new year this way they can charge the new fee?

I will post when I finally hear....

Marc

[m61376 Senior Member Find all posts View Profile Close m61376]

Good luck- and when you hear the good news remember to mark your calendar for Wed. Nov. 21st- 9AM- to book that Thanksgiving 2008 week!

[gores95 Junior Member Find all posts View Profile Close gores95]

Started a new thread but we FINALLY passed ROFR for the 2 BR Aruba Surf Club Oceanside $15,500. Used Shelley at Transaction Realty who was terrific. Would highly recommend her. Details in the other thread....

Thanks.

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

Marc,


That's great, congratulations!!!!

If you are looking to trade your week, or part of it, then you would need to join II. Otherwise, you would reserve your week directly thru Marriott, and save yourself some money.

If you cannot get the week that you want thru Marriott, (hopefully, that will never happen, but holiday weeks are always harder to get) then you can deposit your reserved week into II, and try to exchange your week for the week that you were looking for. (Thanksgiving) You can do this by making a request, and, or daily searches.


Good Luck!!

[m61376 Senior Member Find all posts View Profile Close m61376]

Marc-

Congrats!!! I am so happy it worked out for you and a great deal at that!
Just proves you never know with Marriott's ROFR- I had a similar deal on a Platinum week (although they seem to nab those faster) with the same terms ('08 occupancy) and they took it. Since it took 3 weeks to get a decision they were probably debating about yours- makes passing even sweeter, since you know you got a great deal.

Glad you contacted Shelley- she is a delight to work with, isn't she?

It will take about a month after settlement to get the Marriott transfer done. Shelley will keep on top of it though and keep you apprised.

Now all you have to do is mark your calendar for that Thanksgiving reservation and call as soon as the lines open (or book online at 9AM).