Selling Listings w the Home

[Holly Kurtz]

I am under contract to buy a home that is currently being run as a vacation rental. The home currently has bookings several months out, including during some big local events that command high prices. The owner wants to sell me the existing listings. Is this typical? How do you decide if it’s a fair price? What if people end up canceling? Doubt I’m interested regardless as the city doesn’t allow short terms at that location and I really bought the place to use as my primary residence ( w the attached apartment as a long term rental.) But I’d like to consider all my options.

[Julie McCoy]

While I think that's a business model people have played with (selling "turn key" STRs with bookings and everything), it's certainly not common and in your case, I wouldn't pay a dime for them.  Since STRs are illegal in that area, by accepting them you'd be opening yourself up to fines from the local jurisdiction if they chose to crack down on STRs while you owned the property.  

My answer would be different if STRs were legal, if you bought the property with the intent to use it as a STR, etc. - but given your circumstances, tell them "no thank you" and move on. You may want to stipulate that they cancel all future reservations before you take possession of the property - you don't want someone showing up at your door expecting a place to stay in a couple of months!