Riverside CA, Marriott Timeshare Tax Sale

[Luvtoride]

I just received a letter from the Riverside ,Ca tax collector regarding this tax sale to take place at the end of May. There are 114 tax-defaulted Marriott Timeshare intervals on their website that will be auctioned off. The prices listed range from $1,400 to about $3,600 per lot. Only problem is you can't tell what weeks at which timeshare you're looking at/ bidding on. The website listing the lots is www.countytreasurer.org.
Is anyone familiar with this method of buying timeshares? Any idea how to read the lot information? There do appear to be 4 distinct property lot locations listed (DSV I and II and Shadow Ridge and Enclaves?). Does Marriott have ROFR for these types of sales? In order to participate in the auction you must pre register at Bid4assets.com/Riverside.
Are these good deals? We bought a resale at DSV II a few years ago for $500 plus fees. Any info anyone has would be appreciated.
Brian

 

[cp73]

I Any idea how to read the lot information? There do appear to be 4 distinct property lot locations listed (DSV I and II and Shadow Ridge and Enclaves?). Any info anyone has would be appreciated.
Brian

When you get to the site, you come to the part that says "Sale Information". There is a excel file there listed thats called "description chart". Download this list. It has the resort name, season, week number, and maintenance fees of the property. You need to cross reference the parcel number or item number back to the list you were looking at that had the starting bids....

I had the same problem you had and thought it was strange you couldn't identify the location or season of the property. But I found it. If you have trouble send me a pm and I will send to you.

 

[Luvtoride]

Thanks CP, that's what I get for opening it on my iPad instead of a proper computer. I will check it out in more detail tomorrow.
Thanks.

 

[aka Julie]

I got it too.

I wonder how many of these Marriott will snap up for the DC.

 

[jpc763]

I got one as well.

 

[Ken555]

Thanks CP, that's what I get for opening it on my iPad instead of a proper computer. I will check it out in more detail tomorrow.

Thanks.

ROFL

It works just fine on iPad.


Sent from my iPad

 

[BobG7734]

It is strange that there are 114 items listed. At that location is each owner responsible for their own tax? At other properties the real estate tax is paid by the HOA and included in the annual MF.

 

[aka Julie]

It is strange that there are 114 items listed. At that location is each owner responsible for their own tax? At other properties the real estate tax is paid by the HOA and included in the annual MF.

Yes. Riverside County and I believe all of California timeshare property taxes are paid directly to the county and not part of the maintenance fee.

 

[jpc763]

Are these good deals? We bought a resale at DSV II a few years ago for $500 plus fees. Any info anyone has would be appreciated.
Brian

I am not sure how good the deal is. I imagine there will be very few bids and the minimum price will be what is paid. I am not sure however.

What is interesting to me is reading the charts, for the same unit size and season there is a different minimum bid. I was looking at Shadow Ridge as an example. All units have the same views. All units are the same size.

Here is a block of Gold Season 2BR weeks - I believe all are equivalent units.

64 010692817-4 018-333 IN THE CITY OF PALM DESERT 2008-010692817-0000 $3,283.00 010692817-4 A TIMESHARE INTEREST IN 694320012-1
65 010693165-1 018-333 IN THE CITY OF PALM DESERT 2003-010693165-0000 $1,462.00 010693165-1 A TIMESHARE INTEREST IN 694320012-1
66 010693570-3 018-333 IN THE CITY OF PALM DESERT 2009-010693570-0000 $2,897.00 010693570-3 A TIMESHARE INTEREST IN 694320012-1
67 010693594-5 018-333 IN THE CITY OF PALM DESERT 2008-010693594-0000 $3,111.00 010693594-5 A TIMESHARE INTEREST IN 694320012-1
69 010693850-6 018-333 IN THE CITY OF PALM DESERT 2009-010693850-0000 $2,932.00 010693850-6 A TIMESHARE INTEREST IN 694320012-1
70 010694270-5 018-333 IN THE CITY OF PALM DESERT 2009-010694270-0000 $2,932.00 010694270-5 A TIMESHARE INTEREST IN 694320012-1

Here is the description of the same parcels

64 010692817-4 SR*1025*41 41 B 10/12-10/18 Gold 2 1,260.93 Shadow Ridge 1
65 010693165-1 SR*1125*49 49 B 12/07-12/13 Gold 2 1,260.93 Shadow Ridge 1
66 010693570-3 SR*1227*26 26 B 06/29-07/05 Gold 2 1,260.93 Shadow Ridge 1
67 010693594-5 SR*1229*38 38 B 09/21-09/27 Gold 2 1,260.93 Shadow Ridge 1
69 010693850-6 SR*1305*26 26 B 06/29-07/05 Gold 2 1,260.93 Shadow Ridge 1
70 010694270-5 SR*1405*26 26 B 06/29-07/05 Gold 2 1,260.93 Shadow Ridge 1


A 2BR Gold at Shadow Ridge for $1462 or the same thing for $3283?

The only thing I can figure is the age of the contract? What am I missing here?

John

 

[RX8]

Not all California timeshares have taxes paid separately . Grand Pacific Palisades, and I believe the other Grand Pacific Resorts as well, have taxes included in the MF.

 

[LisaH]

Not all California timeshares have taxes paid separately . Grand Pacific Palisades, and I believe the other Grand Pacific Resorts as well, have taxes included in the MF.

Different amounts of tax owed to the county?

 

[Fasttr]

What is interesting to me is reading the charts, for the same unit size and season there is a different minimum bid. I was looking at Shadow Ridge as an example. All units have the same views. All units are the same size.

Since these sales are tax default related, I would imagine the minimum bids are to cover whatever taxes are owed, plus perhaps penalty and interest and whatever admin fees are associated with the sale. That's the only thing I can think of that would produce different minimum bids for similar units/seasons.

 

[Luvtoride]

John, any idea of what Shadow Ridge 1, 2 and 3 designate? Is one of them the Enclaves?
Also, under weeks are designated B, X and E. I take it X and E must be EOY as the maint fee is half the amount.
It's hard to believe that the small amount of property taxes applicable to these units would go unpaid, thus causing the county to foreclose. Maybe this is used by some as the "easy way" to unload a timeshare and maint fee you no longer want to carry without trying to have to sell it.

 

[SueDonJ]

Not all California timeshares have taxes paid separately . Grand Pacific Palisades, and I believe the other Grand Pacific Resorts as well, have taxes included in the MF.

All CA timeshares may not, but all of the Marriott CA timeshares do. From the sticky thread re 2015 Marriott MF's: "*Note that Property Taxes for the California resorts will vary among owners based on purchase price/date, and are billed separately by the counties."

 

[Werner Weiss]

Under California's Proposition 13 (1978), identical homes and condos can pay different property tax amounts depending on when they were purchased and at what price.

Owners of individually recorded deeds for specific weeks in specific villas, such as Marriott week owners, pay taxes directly to the county where the resort is located.

If a timeshare is structured with an entity owning the whole complex (or big chunks of it) and providing usage through a system such as points, then the entity pays the property taxes and allocates the cost proportionately to owners based on their ownership. The Disney Vacation Club at Disney's Grand Californian falls in this category. The phases of Marriott's Newport Coast Villas that were not declared as weeks but are owned by the Trust probably fall in this category too.

 

[SueDonJ]

TUGger Beaglemom3 has posted about her experience with foreclosure auctions at Marriott's Custom House, this is one of her threads: [2011] Marriott Custom House T/S Auction Today

There the defaults were due to unpaid MF's and not taxes but the thread does explain the auction process very well.

 

[sjsharkie]

Keep in mind that this may clear the tax lien, but it does not necessarily clear all other superior or junior liens since most property tax liens have special super lien status.

I do not know all the rules in CA so buyer beware. Each state is different -- for example, in FL if you buy a property at foreclosure, HOA can still collect dues in arrears up to a cap limit (unless you are a bank where different rules apply).

You should always know the state laws and do a search if appropriate. The sale may clear the tax lien, but still be subject to other liens where applicable.

-ryan

 

[sjsharkie]

John, any idea of what Shadow Ridge 1, 2 and 3 designate? Is one of them the Enclaves?
Also, under weeks are designated B, X and E. I take it X and E must be EOY as the maint fee is half the amount.
It's hard to believe that the small amount of property taxes applicable to these units would go unpaid, thus causing the county to foreclose. Maybe this is used by some as the "easy way" to unload a timeshare and maint fee you no longer want to carry without trying to have to sell it.

Unless they numbered the units differently than what is recorded in the property documents, these do not include Enclaves. You'd have to go to property records to check, but scanning the numbers, it appears they correspond to the buildings on the property map.

None of the numbers in the spreadsheet are 4XXX buildings so no Enclaves in the sale.

-ryan

 

[jpc763]

John, any idea of what Shadow Ridge 1, 2 and 3 designate? Is one of them the Enclaves?

I am not sure what the Shadow Ridge 1, 2 and 3 are but the MF do correspond to Shadow Ridge Villages fees.

Also, under weeks are designated B, X and E. I take it X and E must be EOY as the maint fee is half the amount.

B is both, E is EOY Even and X is EOY Odd - My Interpretation

It's hard to believe that the small amount of property taxes applicable to these units would go unpaid, thus causing the county to foreclose. Maybe this is used by some as the "easy way" to unload a timeshare and maint fee you no longer want to carry without trying to have to sell it.

I was thinking about this. The taxes on my unit is about $50 per year. I would be worried that once you "bought" them here, you would get a big MF bill from the HOA. Not sure how to check that out.

J

 

[SeaDoc]

Gold weeks are not typically bought by Marriott as platinum weeks are as they get placed in the trust when Marriott exercises fror. Don't be surprised if the price is too low and it usually is, you'll get nothing, seller gets the dough and Marriott gets a cheap property for trust inclusion.

 

[yukonh]

Lock-off units?

Are all of the 2 bedroom units lock-off units at these resorts and if not is there a way to determine which of the units in the auction are lock-off units?

Thanks

 

[samara64]

Most of the auctions, if not withdrawn by county, ended up fetching more money then on eBay for sure. Plat went for $6,500-$7,500. White $2,500 - $3500. And you still may owe MF on the top of that. I called Marriott and they stated buyer be aware.

I was tempted but did not participate.

 

[VacationForever]

Most of the auctions, if not withdrawn by county, ended up fetching more money then on eBay for sure. Plat went for $6,500-$7,500. White $2,500 - $3500. And you still may owe MF on the top of that. I called Marriott and they stated buyer be aware.

I was tempted but did not participate.

I am surprised that the ended prices were so high. I was tempted when I got the mailer and it's listed as starting prices of 1-2K. But I decided since I am trying to "lose" (aka sell) my current portfolio it will be unwise to buy more.

 

[taterhed]

did they sell as resales or as developer units?. Some previous Marriott unit sold at auction with full privileges..... According to post. Custom house I think.


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[VacationForever]

did they sell as resales or as developer units?. Some previous Marriott unit sold at auction with full privileges..... According to post. Custom house I think.


Sent from my iPad using Tapatalk

These were not Marriott sales. The taxman (county property tax) sold the timeshare as they have the first lien on the property for unpaid property taxes. But there is a good chance that these same units were owed MF too, which the new owner may be stuck with and need to pay to complete the transfers.