Did you guys see this? They are doing a reality RV show where hosts try to convince investors to buy their place. Incentive is to sell higher than market allows due to rental income. They can pay cash. This should be interesting - ha!
For the right seller this can be an opportunity. The North & South Carolina property markets especially vacation areas are going gangbusters.
Cash buyers have an advantage because the purchase isn’t limited by a mortgage restricted to loaning to the appraisal value.
Because it was a cash sale, a close relative sold a small condo for well above the comps last month.
Oh UGH. It encourages ALL the WRONG reasons to become an STR owner.
I hate having to hunt through all the multiple Air listings for “cute” Marsha Stewart cloned 2br recently flipped houses trying to find a REAL host who lives on site and doesn’t have animals.
Too late. Profit is already the mainstream.
I actually like the idea. If I were in the market to sell, I’d go for it.
Instant access to interested & qualified cash purchasers.
If sales presentation flops, I’m sure they will give feedback on why not interested. Owners could then take actions to maximize appeal.
Granted things like location (not oceanfront) or 3rd floor walk up can’t be changed but I’m sure there will be tidbits of good feedback & ideas.
No way I’m selling my grandparents’ house!
Ok. I’m glad you don’t need/want to.
Oops, Bella Marie Pesky Paws lets me out of the running.
Sadly, the market is insane right now and people have cash, which is different than the 2008 crash when the market was overpriced and sub-prime loans were a disaster that happened.