The question you perhaps need to ask yourself, is can you afford to loose all that money if it does turn sour?

If you can, and think that you'll get a bargain, then go for it. If you can't then I'd suggest you find a bike already registered - no matter what condition it's in. Every single part can be replaced if needs be!
_________________
MC21SP Plaything
BMW F800GS Bumblebee
Triumph 9551 Daytona Big boys toy
FJ1100 Sporting relic
GTS1000 oddball