Selling a Condo Hotel

Author: Tara Peterson

July 17, 2007

 

Printer friendly version
Link to this Article

 

 

What is the reselling process?

As previously mentioned, condo hotels can be resold like normal real estate.  Condo hotels are fee simple deeded real estate.  You buy and sell them just like you would any other form of real estate.  You can contact any real estate agent you like and have them list your property when it comes time to sell.  There is simply no difference in the process of selling and buying a condo hotel and any other form of real estate.

 

Do condo hotels appreciate?

Many condo hotels, especially the branded condo hotels, have seen double digit growth year after year, and have out performed traditional condos or single family homes in the same resort market.  So, not only is there a great deal of historical information on condo hotels appreciating, but there is also a great deal of historical information on condo hotels appreciating more aggressively than traditional real estate in the same market.

 

Please take into consideration that not all condo hotels will appreciate as aggressively as you’d like, and some may even lose value.  There are quite a few recent examples of condo hotels depreciating, such as in the Las Vegas market.

 

 

Benefit of selling a condo hotel vs. traditional real estate

Many condo hotel owners have found it much easier selling their condo hotel property than other properties they’ve owned in the past.  The reason is simple.  With traditional real estate, you have to hope that someone drives by and sees a “For Sale” sign in your front yard or that some real estate agent brings clients to your property.  It’s an incredibly non-proactive way of attracting potential buyers.

 

With a condo hotel, you have hundreds of potential buyers spending the night at your property and falling in love with the experience and the idea of owning.  And because almost all condo hotels have a sales office onsite or in the lobby, the guests staying at the hotel can easily walk into the sales office and learn more about the opportunity of purchasing.  Over the course of a few months or a year, this equates to tens of thousands of potential purchasers having the opportunity to immediately speak with an onsite sales agent about a suite that might be for sale.

Continue to "Questions You Must Ask Before Purchasing a Condo Hotel" »

COPYRIGHT © 2007 PREMIUM CONDO HOTELS - NO PART OF THIS ARTICLE MAY BE REPRODUCED WITHOUT THE EXPRESS WRITTEN CONSENT OF THE AUTHOR. ALL INCIDENTS OF PLAGIARISM WILL BE PROSECUTED TO THE FULLEST EXTENT OF THE LAW.

 

THE ABOVE SUMMARY IS NOT INTENDED TO BE A THOROUGH AND EXHAUSTIVE EXPLANATION OF ALL OF THE TERMS AND PROVISIONS OF THE PROJECT DOCUMENTS. WHILE THE PURCHASER CAN USE THIS SUMMARY AS A GENERAL SUMMARY OF THE PROJECT, THE PURCHASER MUST REFER TO THE PROJECT DOCUMENTS TO DETERMINE HIS OR HER ACTUAL RIGHTS AND OBLIGATIONS. IF ANY CONFLICT OR DIFFERENCE EXISTS BETWEEN THIS SUMMARY AND THE PROJECT DOCUMENTS, THE PROJECT DOCUMENTS WILL CONTROL.