Like most real estate the Seller usually wants too much and the purchaser wants to pay too little with a mobile home playground. Certain buyers may have different motivations for the purchase of a certain park (1031 money, ability to obtain better financing, conversions to other uses, and location to where they live). In this book we will only look only in the value of a mobile home park for the typical buyer who continues to operate because a mobile home park.

Anyone that has seen an appraisal on a house or most varieties of real estate could have heard mention on the 3 approaches to determining the associated with that real personal. They are the Cost, Sales, and Income Decide on.

Unless you are coming up utilizing value of a brandname new mobile home park or the one that is predominately vacant, I do not see any reason to use the cost method. It is not likely that a new mobile home park will be built nearby the actual it would cost to build a new park does genuinely take into account the amount of time, effort, and money it takes to fill that park up with occupied and paying passengers.

As far given that the Sales or Market Comparison approach to value, this is also highly suspect. Is actually a based on comparing the sale with the subject property with the other recent sales and adjusting for differences that you might or might not know with reference to. Problems with this approach include varying expenses, rents, and management. Whether you are an investor or appraiser I would certainly use this approach as potential information and not draw any conclusions out of it.

Lago Vista RV Park

2871 Hwy 72 W, Three Rivers, TX 78071

(361) 436-0845

https://goo.gl/maps/hAfj89yvsshumVqR9

Posted on:
July 11, 2019