Local B&B sold FAST!

[egoodell]

Well Chris was picking up some guests at a lovely local B&B here northeast of town. El, they told us that the inn for sale here just sold! They are friends of yours so you know the property (and he taught a great B&B class at UVA that I took) and it sold lickety split and they were shocked!
I think they are or have already moved their things into the new house next door! Dick told Chris that they are corporate people - I don't know if they have done any B&B research or training yet.
This B&B selling was no suprise since they have something like 300 TripAdvisor reviews and a loyal fan base. But I think they figured, like most of us do, put it up for sale about two years out from when they plan to retire as that is usually the norm of time to sell but POOF it went pretty much right away!! Boy I bet they are glad they built their house before putting the inn on the market!
Riki

 

[JunieBJones (JBJ)]

That is encouraging! Thanks for sharing with us!

 

[EmptyNest]

Well from what I know..the property has NOT officially Closed yet..so I can't say anything.
BUt yes indeed they were very lucky to find buyers and their awards I am sure helped..good positive cash flow...and the location is perfect
Friends say the new owners are great so good luck to them
The right place at the right price at the right time with the right buyers ....everything aligned and that is a good thing

 

[egoodell]

Well from what I know..the property has NOT officially Closed yet..so I can't say anything.
BUt yes indeed they were very lucky to find buyers and their awards I am sure helped..good positive cash flow...and the location is perfect
Friends say the new owners are great so good luck to them
The right place at the right price at the right time with the right buyers ....everything aligned and that is a good thing.

That's great that they like the new owners. They are inheriting a great property!!!!
Riki

 

[egoodell]

Well from what I know..the property has NOT officially Closed yet..so I can't say anything.
BUt yes indeed they were very lucky to find buyers and their awards I am sure helped..good positive cash flow...and the location is perfect
Friends say the new owners are great so good luck to them
The right place at the right price at the right time with the right buyers ....everything aligned and that is a good thing.

Whoops we were told by good B&B owner friends of theirs that it was sold and they were to vacate sometime in the next couple of days so we assumed the place was sold. Hope I'm not spreading untrue rumors...
RIki

 

[EmptyNest]

Well from what I know..the property has NOT officially Closed yet..so I can't say anything.
BUt yes indeed they were very lucky to find buyers and their awards I am sure helped..good positive cash flow...and the location is perfect
Friends say the new owners are great so good luck to them
The right place at the right price at the right time with the right buyers ....everything aligned and that is a good thing.

Whoops we were told by good B&B owner friends of theirs that it was sold and they were to vacate sometime in the next couple of days so we assumed the place was sold. Hope I'm not spreading untrue rumors...
RIki
.

She told me that they close TODAY. And..it did take almost a year to sell...so I guess that is fast in B & B time

 

[Morticia]

Well from what I know..the property has NOT officially Closed yet..so I can't say anything.
BUt yes indeed they were very lucky to find buyers and their awards I am sure helped..good positive cash flow...and the location is perfect
Friends say the new owners are great so good luck to them
The right place at the right price at the right time with the right buyers ....everything aligned and that is a good thing.

Whoops we were told by good B&B owner friends of theirs that it was sold and they were to vacate sometime in the next couple of days so we assumed the place was sold. Hope I'm not spreading untrue rumors...
RIki
.

Hope I'm not spreading untrue rumors...
RIki

Yeah, let's stick to the true rumors...

 

[muirford]

Seems like they did all right by that sale - five rooms and listed for $1.4 million. And they sold it themselves, looks like - no broker's fee? They are a good comparable for some of us in the same general area.

 

[egoodell]

Well from what I know..the property has NOT officially Closed yet..so I can't say anything.
BUt yes indeed they were very lucky to find buyers and their awards I am sure helped..good positive cash flow...and the location is perfect
Friends say the new owners are great so good luck to them
The right place at the right price at the right time with the right buyers ....everything aligned and that is a good thing.

Whoops we were told by good B&B owner friends of theirs that it was sold and they were to vacate sometime in the next couple of days so we assumed the place was sold. Hope I'm not spreading untrue rumors...
RIki
.

Hope I'm not spreading untrue rumors...
RIki

Yeah, let's stick to the true rumors...

.

heehee

 

[egoodell]

Seems like they did all right by that sale - five rooms and listed for $1.4 million. And they sold it themselves, looks like - no broker's fee? They are a good comparable for some of us in the same general area..

He is very sharp so I imagine they sold themselves. He teaches business accounting I think here at UVA.
RIki

 

[EmptyNest]

Seems like they did all right by that sale - five rooms and listed for $1.4 million. And they sold it themselves, looks like - no broker's fee? They are a good comparable for some of us in the same general area..

He is very sharp so I imagine they sold themselves. He teaches business accounting I think here at UVA.
RIki
.

yes the sold by owner. They did come down from originial pricing of 1.7 million. And I don't know what the final price was. This is a special instance I believe. Being in the right location and having one heck of a reputation and repeat business to pass on.
I just hope the folks reading TA won't be disappointed from now on. Though I hear they will do just as good a job..let's hope so.