Buying Resale... what should I require before paying deposit.

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Buying Resale... what should I require before paying deposit. (by Mike N.):

eileenp62 wrote:
I am planning to put an offer on a TS. What should I require from the seller before paying a deposit?

Is this a private sale, or are you purchasing from a resale broker? At a minimum, you need confirmation that there are no liens against the property and all payments to the resort are up to date (MFs, special assessments, etc).

Confirm your initial use year. You don't want to pay 2009 MFs if you can't use the unit in 2009.

Use a reliable escrow company.

The use of an attorney may or may not be required in your state.

Doing a title search is optional but recommended especially for large purchases.

If you don’t get anymore responses here, post your question on the TUG forum ( www.tugbbs.com), you’ll probably get better answers than I can give you.

Good Luck