Has anyone purchased a foreclosed TS from a county tax sale, if so what was the process for Hilton Grand?

[mezal9]

Has anyone purchased a foreclosed TS from a county tax sale, if so what was the process for Hilton Grand?

 

[TolmiePeak]

Has anyone purchased a foreclosed TS from a county tax sale, if so what was the process for Hilton Grand?

Why would the county foreclose on individual timeshare units?

 

[mezal9]

Owner failed to pay property taxes.

 

[1Kflyerguy]

I am guessing this is in California where TS owners pay their taxes directly to the country, instead of other locations where the HOA collects and remits the taxes on the owners behalf.

While I have not done this, I assume you would need to go through all the standard procedures of getting the deed transferred to you, then paying HGV for the activation/transfer fee.

Also not sure if the county action disclosed any other debts associated with the timeshare interval, but if they were behind on the property taxes, its possible they were also behind on the MF or even loan payments..

 

[SmithOp]

Has anyone purchased a foreclosed TS from a county tax sale, if so what was the process for Hilton Grand?

I've looked at a few for Marriott Newport Coast but never bid. Marriott ended up buying them back.

The auction only showed the taxes owed, I was concerned about maintenance fees owed also, which isn't disclosed. I assumed they weren't paid either if the taxes were delinquent.

Too much risk, IMO

 

[escanoe]

Too much risk in buying one of those if an estoppel is not available.

I am guessing this is in California where TS owners pay their taxes directly to the country, instead of other locations where the HOA collects and remits the taxes on the owners behalf.

While I have not done this, I assume you would need to go through all the standard procedures of getting the deed transferred to you, then paying HGV for the activation/transfer fee.

Also not sure if the county action disclosed any other debts associated with the timeshare interval, but if they were behind on the property taxes, its possible they were also behind on the MF or even loan payments..

 

[dioxide45]

In many states, a tax sale will extinguish other liens.

 

[1Kflyerguy]

In many states, a tax sale will extinguish other liens.

Interesting, I did not realize that, but a quick google search shows that is true in California. That would incentive any mortgage holder to bid on the foreclosure, at least for traditional real estate. With a timeshare it would probably depend on the value of the various liens..

I do wonder how things work for past due MF.. It very possible the resort never got around to actually filing a lien.. but could still push for payment before that fully process the transfer / activation in their network... Maybe i am being a pessimist..

 

[claraj]

Does Marriott still have ROFR in this situation?

 

[mezal9]

Does Marriott still have ROFR in this situation?

Yes

 

[mezal9]

I've looked at a few for Marriott Newport Coast but never bid. Marriott ended up buying them back.

The auction only showed the taxes owed, I was concerned about maintenance fees owed also, which isn't disclosed. I assumed they weren't paid either if the taxes were delinquent.

Too much risk, IMO

I got ahold of corporate via a TS presentation, and asked them about this. They said any TS bought via auction, the new owner would be required to purchase 3k points. Which seems crazy!

 

[dioxide45]

I got ahold of corporate via a TS presentation, and asked them about this. They said any TS bought via auction, the new owner would be required to purchase 3k points. Which seems crazy!

That would be in order for them to be able to enroll the week in Abound. A week bought at a tax sale would not be automatially enrolled in the Abound points program. It would work just like a resale week bought from a third party.