By Craig Shawn Williamson
When it comes to gathering information about a particular vacation rental property, more is better.
I recently posted about how important it is to know your salesperson when you are looking at purchasing VRP. Take the same kind of close look at the company you are buying from—as in, the property developer who actually built the vacation home you are considering purchasing.
Gathering as much information as you can ahead of a VRP purchase is an important way of protecting yourself. Assembling a great team to assist you throughout the purchase process is also crucial. You will need an attorney, an accountant, and a strong Realtor who will advocate for you from Day One onward—it is not enough to deliver you into the hands of the salesperson at a construction site. I am a consistent advocate of Realtor representation for the buyer when dealing with new construction in big projects.
If you’re buying a home within a community, it is a good idea to call the local Better Business Bureau to find out if there have been any issues with it. Doing so is part of your due diligence. Find out about any outstanding complaints against the developer and how they were resolved. Next, check with the state. See if there are any lawsuits against that company or if anything else is going on.
Of course, not all online information is useful information. If you find a forum with one or two rants about the company you are researching, take it with a grain of salt. Some people use a public forum to trash somebody or something. They may just be a dissatisfied or disgruntled customer. Unless there is an associated lawsuit, that’s not what I would look for. Go to real agencies like the BBB or established media outlets. You’ll find out what you need to know…
