Westin nanea

We did our owner tour today and they wanted to sell us another year, since we are every odd year. I asked them why wouldn’t I just buy from redweek at 1/3 the price. They told me that when we make an offer then they have the first right to buy the property and would buy it before we could. Is this true or is it a line they use to get you to buy their full price.

johnl2086 wrote:

We did our owner tour today and they wanted to sell us another year, since we are every odd year. I asked them why wouldn’t I just buy from redweek at 1/3 the price. They told me that when we make an offer then they have the first right to buy the property and would buy it before we could. Is this true or is it a line they use to get you to buy their full price.

Like virtually everything out of the mouths of hungry timeshare sales hyenas everywhere, that claim is only partially true, at best.

Yes, many "chains" do indeed have a "right of first refusal" (ROFR), meaning that if an exisiting owner within that "chain" wants to sell his / her / their ownership and has an interested buyer under contract at an identified price, the developer then has right to buy it from the owner at that same price, essentially displacing / replacing the other buyer. That being said, the "threshold" figure for such developers exercising their ROFR is always unknown (and changes with the economic climate and their inventory situation), so the figure at which a developer will instead just let the resale proceed is never known with any certainty until the developer actually either exercises their ROFR, or instead just "passes" and lets the resale proceed between owner and buyer at the price identified in the owner's resale P&S agreement or contract.

P.S. I know nothing about Westin, so have no idea whether Westin has ROFR written into their contracts, but being a "higher end" operation, I would be inclined to believe that they very likely do.

True, they have a ROFR Resale will be cheaper - as would renting instead of buying