Hi @Lisa6291,
This is definitely a tricky situation, but one many co-hosts face at some point. As @Joan2709 mentioned, whether the cancellation penalties and Superhost impact apply depends on who the listing is officially registered under—if it's under your account, unfortunately, yes, you could face both.
One potential solution:
You might want to speak with the new property owner and see if they would be open to honoring the existing bookings. If they plan to use the property as a rental or are open to short-term hosting in the future, this could actually be a great opportunity to start working with them as a co-host. Completing the current reservations will avoid guest cancellations, protect your (or the listing’s) Superhost status, and keep your reputation strong.
Airbnb guests also appreciate when hosts go the extra mile to avoid disruptions—and if the transition is smooth, it could even lead to a long-term relationship with the new owner under the Airbnb model.
Wishing you all the best with the transition and hoping you're able to turn this challenge into a new opportunity!