timeshare tax auctions?

[bdurstta]

Anybody up-to-date on current timeshare tax auctions? And their web sites? For awhile the City of San Bernardino had some GREAT auctions....but I can't seem to find them or any others lately.

THank you in advance for your information.

 

[Harry]

Tax Sales

At first I thought you were referring to the City having a timeshare tax sale which is highly unlikely. Tax sales for timeshares are conducted through the county where the property is located. Thus, for example Laguna Surf would be in Orange County from the main office (not a field office). Tax sales are fun. I have purchased some property this way but never a timeshare. The reason is the taxes (in the property I have looked at) are higher than the price I wanted to pay. I did consider Lawai Beach Club auction a couple of years ago, but the association bought them.

 

[mapper]

I was in Del Mar on Friday night and picked up two or three of their free local newspapers which had a full page of listings for Grand Pacific Palisades. I am an owner there, absolutely love it and plan on checking into just how these work. I' ll dig the paper out and post the contact info here tomorrow.

 

[Sir Newf]

Laguna Surf

Can any owners comment on Laguna Surf?
I am looking a purchasing a resale, I love Laguna and would also use it to trade II/RCI....any comments about the Laguna Surf are very helpful.
Thanks in advance..Anna (Sir Newf is my dog)...

 

[T_R_Oglodyte]

A couple of years ago I looked at the San Diego County tax collectors in auction in some detail. I looked at various resorts, particularly with fixed week units (because you deduce which week it is from the APN #), which units received bids, what the unit sold for (or if it didn't sell and what the opening bid was), and who the recorded buyer was.

I concluded that the auctions were thoroughly reviewed and attended by individuals and organzations who were quite familiar with the timeshare market in San Diego County. There were no screaming bargains at all - in fact sometimes you could clearly see when a unit had been bid beyond the levels the professionals were willing to pay.

The prices reflected such nuances as the opening and close of racing season in Del Mar. Many of the successful bidders were organizations I have also seen actively reselling and renting timeshares in So Calif.

Units that received no bids were clearly units that were marginal ownerships.

I don't know about San Diego County, but several years ago San Bernardino and Riverside Counties started doing their tax auctions on bidding sites. When Amazon had an auction site, the tax auctions first showed up there. I don't know if San Bernardino and Riverside moved to eBay after Amazaon closed their auction site.

 

[Malibu Sky]

Late last year Riverside County had an on line auction run through, e-bay for Desert Breezes. Most of the units were overbid and purchased by the management company for Desert Breezes, I was not real happy because I got overbid on each unit I tried to bid on. I finally got the nerve to e-mail the over bidder and and found out it was the management company, I guess they wanted to purchase them to re-sell on their own and not harm their existing inventory.

 

[taffy19]

Can any owners comment on Laguna Surf?
I am looking a purchasing a resale, I love Laguna and would also use it to trade II/RCI....any comments about the Laguna Surf are very helpful.
Thanks in advance..Anna (Sir Newf is my dog)...

Call the front desk and ask if there are any re-sales. They will refer you to the right person who is handling this now. Every once and a while a unit comes available.

http://www.lagunasurf.net/
Unofficial web site for Laguna Surf.

I check the Internet every once and a while too but do not see many for sale. I see them for rent. The resort was sold out a long time ago but we love to vacation here every year and most owners do too. Not a fancy resort like the hotel chains but it is right on the ocean and you cannot beat the location. You can walk to everywhere and there are steps down to the main beach.

More pictures are under my signature file under Laguna Surf and Laguna Beach and I have plenty more.

Laguna Surf trades officially with RCI and SFX and is listed in the II book too.

There is also Laguna Shores in Laguna Beach and they have a pool but they are not on the ocean but across the street.

PS. I deleted the other post because I thought that I was in the wrong topic. Sorry about my confusion.

 

[timetravel1]

Desert Breezes tax sale/auction on Ebay

Riverside county is auctioning 160 Besert Breezes timeshares on Ebay.

How can so many owners be behind with their taxes? Are the taxes not included with the maint. payments?

Is this a good property?

 

[Dave M]

Are the taxes not included with the maint. payments?

In California, no they are not included in MFs. Unlike other states, California taxing jurisdictions send property tax bills to each individual timeshare owner.

 

[Quimby4]

Riverside county is auctioning 160 Besert Breezes timeshares on Ebay.

How can so many owners be behind with their taxes? Are the taxes not included with the maint. payments?

Is this a good property?

I found them...It says in the listing
If this timeshare remains unsold it may be offered for sale at a reduced price beginning October 19, 2007 at 10:30am, and ending October 22, 2007 at 10:30am.

I'll wait till then to see the prices...Any feedback on how they trade?

 

[easyrider]

bidforassetts.com has a link in the real estate for time shares.

 

[Malibu Sky]

The majority of these units at the last auction were purchased by their management company. Everytime I bid on a unit , I was over bid by the same guy, I finally e-mailed him and he told me who he was. I am not sure what they did with the units but I presume they re-sold them. I wonder if they will do the same thing again?

Also, what exactaly does the mean "If this timeshare remains unsold it may be offered for sale at a reduced price beginning October 19, 2007 at 2:30pm, and ending October 22, 2007 at 2:30pm."--If the units don't sell at the initial auction...will they reduce the price?

I have never traded our unit but we love Desert Breezes.

 

[Laurie]

San Luis Obispo County used to hold an annual online auction every May, to auction off tax-delinquent San Luis Bay Inn units - not on ebay, maybe yahoo auctions? I don't know whether they still do this, you could contact the county tax office and ask. I bought mine this way in 2001, when they had lots of them - then I followed them for a few years after that, and it looked like prices were going up a bit, perhaps there were fewer and fewer available. There were nominal or no closing costs, so the deals were pretty good.

 

[Giselherr]

In California, no they are not included in MFs. Unlike other states, California taxing jurisdictions send property tax bills to each individual timeshare owner.

How does that work with maintenance fees? Is the successful tax-sale buyer then obligated for past due maintenance fees?

 

[teepeeca]

With a tax auction, everything is "wiped clean". All you pay is the tax sale price, NO past due mx fees.

Tony

 

[T_R_Oglodyte]

How does that work with maintenance fees? Is the successful tax-sale buyer then obligated for past due maintenance fees?

With a tax auction, everything is "wiped clean". All you pay is the tax sale price, NO past due mx fees.

Tony

When the county forecloses on a property, all liens attached to the property are extinguished, except for claims from higher levels of government. So let's say the property had:

• a mortgage against it
• a lien for unpaid property taxed imposed by the country
• a lien filed as part of a legal judgment against the owner (let's say that the previous owner had been accused of killing his wife, was acquitted in a criminal trial, but the wife's family won a civil judgment for wrongful death)
• a lien filed by the IRS for non-payment of income tax

And for good measure, let's also cloud the title by assuming that one of the prior owners bought the house as a married couple, but during their ownership they divorced and one of the spouses never signed the deed transferring title to the previous owner.

As I understand matters, when the county forecloses every one of those liens except the IRS lien would be eliminated. (Being part of a higher level of government, the IRS lien is superior to the county lien and can't be eliminated by the county.) In addition, the cloud on the title would be quieted. The way I see it, buying a foreclosed property at a tax auction is a pretty secure way of getting clean title.

Note, however, that a tax auction is not the same as a public auction on the courthouse steps. The courthouse steps types of auctions are normally undertaken by a private party such as a lender who is foreclosing on a lien. Those auctions only eliminate all liens that are junior to the lien on which foreclosure is occurring, and those auctions do not eliminate any liens filed by government agency. IOW - if you buy a timeshare on a courthouse steps type of auction all past due taxes bills come with the property.

***

As I recall, several years ago some resorts in either San Bernardino or Riverside County balked at transferring ownership in their records to tax auction purchasers until the purchasers paid outstanding annual fees associated with the previous owners. The tax collectors office intervened with the resorts and got that matter straightened out pretty quickly.

 

[applegirl]

I was talking to a tax assessor for Riverside Co. this weekend and he informed me that this week the county would be auctioning repossed weeks on eBay. Some properties will be in Palm Springs area. I noticed qutie a few Shadow Ridge weeks for sale.

- Janna

 

[Giselherr]

When the county forecloses on a property, all liens attached to the property are extinguished, except for claims from higher levels of government. So let's say the property had:

• a mortgage against it
• a lien for unpaid property taxed imposed by the country
• a lien filed as part of a legal judgment against the owner (let's say that the previous owner had been accused of killing his wife, was acquitted in a criminal trial, but the wife's family won a civil judgment for wrongful death)
• a lien filed by the IRS for non-payment of income tax

And for good measure, let's also cloud the title by assuming that one of the prior owners bought the house as a married couple, but during their ownership they divorced and one of the spouses never signed the deed transferring title to the previous owner.

As I understand matters, when the county forecloses every one of those liens except the IRS lien would be eliminated. (Being part of a higher level of government, the IRS lien is superior to the county lien and can't be eliminated by the county.) In addition, the cloud on the title would be quieted. The way I see it, buying a foreclosed property at a tax auction is a pretty secure way of getting clean title.

Note, however, that a tax auction is not the same as a public auction on the courthouse steps. The courthouse steps types of auctions are normally undertaken by a private party such as a lender who is foreclosing on a lien. Those auctions only eliminate all liens that are junior to the lien on which foreclosure is occurring, and those auctions do not eliminate any liens filed by government agency. IOW - if you buy a timeshare on a courthouse steps type of auction all past due taxes bills come with the property.

***

As I recall, several years ago some resorts in either San Bernardino or Riverside County balked at transferring ownership in their records to tax auction purchasers until the purchasers paid outstanding annual fees associated with the previous owners. The tax collectors office intervened with the resorts and got that matter straightened out pretty quickly.

Seems to me that Florida is also a state that bills taxes separately, if what has been said as to the past due MFs etc, then it would seem to be a good strategy for people who have an un-saleable TS to just stop paying the taxes. I don't know for sure, but I would suspect that the previous owner is STILL liable for past due MF.