he answer is yes to both. It seems that in the last year there have been plenty of
buyers and plenty of sellers. I don’t think
the market suggests there is an advantage to being a seller or a buyer at this time in the market. Many Inn properties have changed ownership over the past year at reasonable and defensible pricing reflecting a healthy market. After 2008 when the economy tanked, there were many Inns that couldn’t hang on and did go out of business or had to sell their Inn for less than value. That was also true of the housing market as well.
Commercial interest rates are low comparatively speaking, and many Small Business Administration Loans are being used when purchasing an Inn. There are even USDA Loans available in certain areas.
What are some of the preparation items a seller can accomplish prior to listing an Inn for Sale?
By Patricia Detwiler
Is it a buyer's market or a seller's market?
REAL ESTATE ADVICE
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