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High Sierra auction

D

dahntahn

TUG Member
Joined
Jul 10, 2013
Messages
95
Reaction score
60
Location
Pittsburgh PA
Resorts Owned
DVC Saratoga Springs, Hyatt Beach House, Hyatt Coconut Plantation
Someone just posted on the Facebook HRC page announcing a foreclosure auction on 23 " units" ( weeks?) on August 7 with a starting bid of $2000 and a link to get info on the specific units in question. All the HS units are 2 BR 2 bath. I have no interest but others may? What isn't clear to me is if HRC will have ROFR once a bid is won, or if they will be bidding in competition.
 
dahntahn said:
Someone just posted on the Facebook HRC page announcing a foreclosure auction on 23 " units" ( weeks?) on August 7 with a starting bid of $2000 and a link to get info on the specific units in question. All the HS units are 2 BR 2 bath. I have no interest but others may? What isn't clear to me is if HRC will have ROFR once a bid is won, or if they will be bidding in competition.
Click to expand...
Since Hyatt can take any resale on ROFR, if they bid, they would be bidding against themselves.
 
Kai - I saw that too. Was wondering why there would be so many timeshares that are delinquent and up for auction. It seemed odd to me.
 
Apparently Hyatt does not have ROFR. Check out Hyatt Vacation Club Owners on Facebook. There is a link there and more info. Sounds like the bids end up high at least in the past
 
Tucsonadventurer said:
Apparently Hyatt does not have ROFR. Check out Hyatt Vacation Club Owners on Facebook. There is a link there and more info. Sounds like the bids end up high at least in the past
Click to expand...
The units are owned by the HOA and not Hyatt. Hyatt will handle the sale transaction just like any other resale. It's hard to imagine why Hyatt would be cut out of the ROFR process.
 
Kal said:
The units are owned by the HOA and not Hyatt. Hyatt will handle the sale transaction just like any other resale. It's hard to imagine why Hyatt would be cut out of the ROFR process.
Click to expand...
Kal, Someone on the facebook site said they had been to the auction for the past 7 years and Hyatt does not have the ROFR but I agree with you, it doesn't make sense.
 
This might be a little different as the HOA gives resort owners the first shot. The buyer is on the hook for any delinquent MFs so that increases the price.
 
dahntahn said:
Someone just posted on the Facebook HRC page announcing a foreclosure auction on 23 " units" ( weeks?) on August 7 with a starting bid of $2000 and a link to get info on the specific units in question. All the HS units are 2 BR 2 bath. I have no interest but others may? What isn't clear to me is if HRC will have ROFR once a bid is won, or if they will be bidding in competition.
Click to expand...
timeshare-resale.com is the link.
 
Does anyone know MFs for High Sierra?
 
OK answering my own question, heard back from sales 1359 is the MF.They sent me the list of units and weeks available.
 
dewdrops said:
Thanks for posting.
However, the website doesn't mention the auction. There are a lot of units for sale though.
Click to expand...
HOA Foreclosure Units as of July 12, 2017 Note: Units can be paid off at any time right up until the sale which will take place on August 8, 2017. The opening bids for each of the units will be ~$1,985.00
Season Week Unit Location Points Silver 3 314 1st Floor/Bldg 31,400 Silver 3 612 1st Floor/Bldg 61,400 Silver 4 324 2nd Floor/Bldg. 3 1,400 Silver 4 531 Penthouse/Bldg. 5 1,400 Gold 5 614 1st Floor/Bldg 61,880 Gold 8 514 1st Floor/Bldg. 5 1,880 Gold 9 511 1st Floor/Bldg. 5 1,880 Silver 10 113 1st Floor/Bldg. 1 1,400 Silver 11 514 1st Floor/Bldg. 5 1,400 Silver 14 414 1st Floor/Bldg. 4 1,400 Silver 14 211 1st Floor/Bldg. 2 1,400 Bronze 17 613 1st Floor/Bldg. 6 1,300 Bronze 19 121 2nd Floor/Bldg. 1 1,300 Bronze 19 113 1st Floor/Bldg. 1 1,300 Gold 23 122 2nd Floor/Bldg 11,880 Gold 23 632 Penthouse/Bldg. 6 1,880 Silver 36 114 1st Floor/Bldg. 1 1,400 Silver 37 314 1st Floor/Bldg. 3 1,400 Bronze 41 212 ADA 1st Floor/Bldg 21,300 Copper 48 231 Penthouse/Bldg. 2 1,100 Copper 48 323 2nd Floor/Bldg. 3 1,100 Silver 50 313 ADA 1st Floor/Bldg. 3 1,400 Diamond 51 211 1st Floor/Bldg. 2 2,200
Exclusive Broker High Sierra Lodge HOA Hotel Timeshare Resales www.htr4timeshare.com Local Agent - Jean Thoms 775-750-2733 jthoms@htr4timeshare.com Nevada RED #S.0172547
 
Thanks for posting Tucson... I still don't see anything on the site so glad you were able to share the details with us... will be interesting to see what the Diamond week goes for!
 
Mostly as a not-very-intellectual exercise, I put this list in a table in case anyone is going to bid or follow it closely...it is foreign territory for me but since we have stayed there several times (and have more stays on the off season, as it is pretty easy for us to fit into available 2 and 4 day stays there), I am mildly curious!

If you want the pages file, I can send that privately since I can't upload that file type apparently ;-)
 

Attachments

  • High Sierra auction Aug2018.pdf
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When I corresponded with sales about the auction they said that you do not have to pay the outstanding dues owed as the opening bid would cover it. Interestingly,
there was a Hyatt sales executive from Florida posting on the facebook group who stated that the auctioned units would not be available for ALL the benefits of the new portfolio program,
and that Hyatt would not allow them to be a part of it. A few days later all his posts were deleted from the facebook group. When I asked if Hyatt was going to put something in writing,
he wrote, that I could call him if I had any questions about the new program.
 
I think most will use a proxy. The realtor I spoke with will act as your proxy for $250 per property purchased.
 
Thanks Cafeirene for putting in easy to read format -- was anyone there who can say what the units sold for? Curious about the week 51 and the gold weeks....
 
I called before the auction to ask about the week 23 Unit 632(gold) and the diamond unit. The realtor said that the gold unit had paid up the delinquency and that she was representing another client for the Diamond week so couldn't represent us because there would be a conflict. I don't know if her client won the auction, but would be curious to know what it sold for. My guess is that we would not have been willing to pay enough to win it anyway!
 
ivywag said:
I called before the auction to ask about the week 23 Unit 632(gold) and the diamond unit. The realtor said that the gold unit had paid up the delinquency and that she was representing another client for the Diamond week so couldn't represent us because there would be a conflict. I don't know if her client won the auction, but would be curious to know what it sold for. My guess is that we would not have been willing to pay enough to win it anyway!
Click to expand...

Well, good thing I didn't drive up there then, the one unit I wanted was the week 23 Unit 632, since as like you I figured week 51 would go for more than I wanted to pay.
 
Diamond week went for $8,000.
 
I found out too the other Gold's sold for $4500-$4600 (maybe one was $4700).
So good for the HOA and good for the winners!!

Also - I wonder if the $8000 would have passed ROFR under a regular sale.
 
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