Wesley Avenue is a desirable location. Four bedrooms condos rent well in Ocean City. They also rent well in the winter! Be aware that although the average rental commission on the island is 12% to 15%, Weichert Realtors- The Asbury Group only charges a 10% commission. Over the summer rental season that can really add up!
As a Certified Short Sale Agent, I would welcome the opportunity to help you get the most out of your cash!
Joanne Bernardini, 609-947-2451
As the other's have said there is always room in the price the two at 12th & Wesley Are now on the market so the Seller may not be looking to come down to much at this minute But Cash Offers to Make it more attractive especially if it is a quick closing. There maybe rentals already in the property which would transfer to you at closing. 1211 Wesley currently has about $17,000 in rentals at a commission rate of 12% there is still rentals open. This amount will figure into the Sellers price. It all depends what shape the seller is in the Sellers agent cannot tell you this without violating his committment to the seller.
The Second Floor of 1213 Wesley has $15,500 in rents at this time the cleanings will run on a four bedroon around $75.00 per changeover
If you really want to know about buying in Ocean City and how to make your best deal I have spent 20 years in Ocean City as a Buyers Agent only
Also You may want to look at a New Construction Unit which is a Short Sale just one Block from the beach 401 34th Street New Building from the ground up and located just one block to the beach.
Tim Robbins Exclusive Buyers Broker
Better Homes Realty
Click my weblink and search homes
Your question about if a cash offer could buy you a discount depends on the sellers motivation. It is the agents responsibility to not only find out what motivates the seller but what the seller really requires to sell the home. Typicaly a cash offer buys you a discount , it is the strongest bargaining tool along with a quick settlement.
Renting the property once you own is the easy part. I recommend , even though my office has a rental department, to place the unit with several offices and have them communicate everytime they book a rental.
Give me a call to discuss your options. The call and the advice is free.
Edward ( Augie ) Augsberger
WEICHERT COASTAL REO / DISTRESSED PROPERTY DIVISION
Direct # 609-338-1189
Office # 609-523-1112
Cash payment as well as a quick settlement and a clean offer can all help your negociating power.
Condos in Ocean City rent very well if they are well maintained and offerr the amenities that renters are looking for such as high speed internet, beach tags, bikes, etc.
Realtor commissions vary by agency but you can expect to pay between 10 and 12% per rental. The cleaning cost will also vary depending on the cleaner you use but will be between 100 & 175. There is a large number of cleaning companies who are competing for business but make sure you are working with a cleaner who is insured and bonded and who has references from past clients.
If you have any further questions please feel free to contact me I was a Ocean City resident for many years.
Prudential Fox & Roach Realtors