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Services for Real Estate Pros with Waikoloa Vacation Rentals

There had been a property that one of my clients and I had been follwoing for a while.  It just came back on the market as a REO so he wanted to put in an offer.  When I contacted the listing agent she said that the first 7 days the bank would not be looking at any offers due to this being a "marketing period".  The next seven days only people planning to live there or non profit organizations could make offers. 

I understood the reasoning behind the marketing period, but since the property is in a vacation rental complex I did not understand the next seven days.  Any thoughts?

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Comments (3)

Duane Murphy
Expert Real Estate Partners LLC - Appleton, WI
Broker- Owner-Real Estate -

It sounds like a HUD property to me. Those are thier guidelines.

Apr 28, 2010 06:45 AM
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Hi Rob,  Don't let the vacation location throw you off.  HUD makes the initial 7 day period available to non-invester types.

Apr 28, 2010 06:52 AM
Rob Dalton
Waikoloa Vacation Rentals - Waikoloa, HI
Big Island Vacation Rental Guru

Yeah, that is what I thought.  I just have a hard time seeing how they can regulate that.  Seems like a cash buyer could just say they are going to purchase it and live in it and then just turn around and rent it out.

Apr 28, 2010 02:15 PM