Original Message:
Re: BUYING DEVELOPER vs RESALE (typical scenario) (by KC):
sylviaa24 states asks: >> We're looking at the Manhattan Club and there's one posted for $5,500. What do you think are the red flags that we should look for? <<
Are you already aware of the annual maintenance fees associated with Manhattan Club ownership? They are, in a word, exorbitant.
Re: >> Does a floating week mean that it will be difficult for us to rent it out should we decide to do so? <<
Not necessarily, but it DOES certainly mean that you will have to formally reserve a specific week (each and every yearr) BEFORE you even have a week reserved to rent. Also, you should determine in advance whether or not there are any reservation restrictions (sometimes called "blackout periods") during which you may be prohibited from reserving a week under a "float" ownership. I don't know if this is the case at Manhattan Club, but you need to find out for certain for yourself.