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

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

Unless you are coming up utilizing value of a brandname new mobile home park or the one that is predominately vacant, I do avoid seeing any reason get a the cost concept. It is not likely the new mobile home park will be built nearby exactly what it would cost to build an alternative park does truly take into account the amount of time, effort, and cash it takes to fill that park up with occupied and paying residents.

As far given that Sales or Market Comparison approach to value, this furthermore highly suspect. Need to based on comparing the sale of this subject property with the other recent sales and adjusting for differences that you might or might not know about. Problems with this approach include varying expenses, rents, and management. Whether or not you’re an investor or appraiser I would likely use this approach as potential information and not draw any conclusions as a result.

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