Buying STR with stays already booked

[Wilson Hunter]

Hi everyone,

STR noob question here... If I buy a property with intent to use as a STR that was also used as a STR by the seller, what happens with the days that are already booked and the cash that has already been collected for those stays? I see listings like "$70k already booked for 2021!" Is the buyer immediately paid 100% of the cash collected for these rented days at close?

Thanks in advance!