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Study and learn BEFORE you buy... (by KC):

todda36 wrote:

Thanks Ken! I appreciate the good advice. It sounds like you have to be VERY careful. If you do the research, can you find something that is worth it? I have just rented from owners through Redweek, and it seems relatively easy and hassle free.

I overlooked one point which definitely warrants at least passing mention. After you study up and perhaps later feel comfortable in making an informed purchase (regardless of wherever you might find that particular week advertised for sale) it is always preferable to use a closing company of YOUR selection, whenever the option and opportunity exists to do so. Too often, commercial sellers (particularly the PCC's on eBay) are VERY closely aligned with one particular closing entity and try to force the use of THEIR closing company upon the buyer, even though the BUYER is the one paying the closing costs! Sometimes, the seller and the "closer" are even actually all the same people, merely "changing hats" for the closing portion of the transaction.

An independent closing company which has NO affiliation with the seller will much better look out for YOUR best interests as buyer (instead of merely looking to help the seller "seal the deal" in the most expedient manner possible). If there are unpaid fees, liens, mortgages or other encumbrances on the ownership, you certainly want to know about them BEFORE becoming the new owner. Also, in addition to estoppel, an independent closing company will handle escrow, ensuring that the seller does NOT receive funds until all details are finalized in a manner satisfactory to (and protective of) the BUYER'S best interests.

Anyway, study up --- and good luck finding whatever suits you best.