Ebay bankruptcy sales

[m61376]

What are the pitfalls of buying an Ebay bankruptcy sale? The conditions are: "The buyer will be entirely responsible for this timeshare after the sale including but not limited to: paying any fees/costs associated with this timeshare, paying all fees/liens (if any), recording/transferring the title and gathering any paperwork/documentation necessary for that process."

Can such a purchase be protected with title insurance during the closing process, or would the buyer be basically stuck since the purchase was already made?

 

[falmouth3]

I can't speak of any legal pitfalls, but generally I've seen that the asking prices are higher than the going rate, closing costs are equal to or greater than the norm, and there are often back maintenance fees and penalties owed. I once contacted the listed seller and there was no wiggle room in the asking price.

Good luck.

Sue

 

[applegirl]

I wouldn't buy a timeshare with these conditions unless I knew exactly up front how much all the fees, liens, etc. would be!

 

[ace2000]

I agree with Sue... I've found their items to be more expensive then the norm on eBay.

 

[Dave H]

With a proper title search it can be insured but the biggest question is.... did the bankruptcy court or trustee authorize the sale, if not, they will be getting involved when title calls them assuming title does what they are supposed to do and only if you are getting title insurance.

Dave