Does anyone know anything about Condo-tels?
I posted this in the Buying and Selling Homes forum without much luck.
Anyone know anything about these? I'm looking for a condo at the Jersey Shore and there are tons of converted motels sold as "Condo-tels". Some have an actual office and a rental pool that you must use and pay a percentage of the rental fee. Some do not. They appear to be run with an Association, have no office or on-site management and no rental pool. Just like a regular condo.
Financing is really hard to get for these "Condo-tels".
What is the difference? Could someone please explain?