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Wildwood Crest Forum: renting condo for sale?

Which Wildwood Crest hotels are on sale?
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Chicago...
posts: 20
 renting condo for sale? 

Our family just made summer reservations at a nice unit in a small building the Crest, at a place that seemingly has rave reviews from years of vacationers. The unit is now completely booked for the summer. The owner seemed very nice when I spoke with him. However, while on the internet I discovered that the property is listed for sale. I'm worried about our vacation plans falling thru in the event of a sale (or worse, foreclosure), so I'm seeking advice. I don't know the legalities here, if the property should change owners. Thoughts?

Thank you!

5 replies
Wildwood...
posts: 1
1. Re: renting condo for sale?

As an personal owner of 2 condos in Wildwood Crest, I speak with all of our potential guests to make sure they will be pleased with our unit, and to establish a relationship with them. I think this is a "win-win" situation and we have many repeat guests each year. My non-professional opinion regarding your vacation unit being "for sale" is that you should not be at risk if you signed a contract with the owner, but I would recommend that you contact the owner for reassurance, and go with your gut feeling if you should stay or re-schedule elsewhere. We have a 90-day full-refund cancellation policy. Since your unit is fully rented for the season, that is an indicator that property is reasonably priced and in a good location, so I see that as a very good sign. I hope this answer helps. Best wishes with your summer plans...

Chicago...
posts: 20
2. Re: renting condo for sale?

Thanks very much! I appreciate your input.

Long Island
posts: 3,984
reviews: 7
3. Re: renting condo for sale?

I wouldn't worry too much as I think there are a lot of rental properties that are on the market. Any new owner will have to abide by existing leases so that should not be a problem. The only thing I might worry about would be a change of ownership might change the way the property was cared for or the way a renter was treated. What makes you bring up foreclosure? Do you think that is a possibility?

Chicago...
posts: 20
4. Re: renting condo for sale?

I mentioned foreclosure mainly because of how prevalent it's become, and the fact that the property has been for sale for an extended period. Also something the owner mentioned about others (sorry, I can't remember what he said, but he wasn't referring to himself but to others). I figure foreclosure is always a possibility these days.

5. Re: renting condo for sale?

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Removed on: 19 July 2011, 21:05
Edited: 19 July 2011, 21:05
 
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