The Marquis de Lafayette is the lowest price beachfront condo available. However, because this property is a condo tel owners have very limited use to their unit. If you are looking for an investment property and you are a cash buyer this property may have a very attractive return on investment. If you are financing the unit it may not be so good for you. First, most lenders won't lend on this type of property. Second, the few lenders that do lend on condo tels require large down payments (at least 30%) with interest rates up to 3% higher than conventional conforming mortgage rates.
If you are interested in Cape May I will be happy to meet with you and discuss this property further with you. I can also show you other great beach front properties in Cape May that may be a better fit for your needs.
Aside from my local knowledge and real esatet expertise I was in the mortgage industry for over 15 years and I can guide you through the mortgage maze if you are not a cash buyer.
I am available 7 days/evenings a week to meet with you. My cell is (609)425-7785 and my e mail is firstname.lastname@example.org. I look forward to assisting you.
Joseph Scrocca, Sales Agent
WEICHERT REALTORS, COASTAL
3300 Pacific Ave., Wildwood, NJ 08260