Like most property the Seller usually wants too much and the purchaser wants to pay too little for a mobile home softball park. Certain buyers may have different motivations for choosing a 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 involving real estate may have heard mention of the 3 approaches to determining the value of that real estate. They are the Cost, Sales, and Income Decide on.

Unless you are coming up light and portable value of a product new mobile home park or the one that is predominately vacant, I do not see any reason also included with the cost approach. It is not likely if you have a new mobile home park will be built nearby the actual it would cost to build the most current park does not even take into account the amount of time, effort, and cash it takes to fill that park up with occupied and paying home-owners.

As far because your Sales or Market Comparison approach to value, this can be highly suspect. Is actually a based on comparing the sale on the subject property with the other recent sales and adjusting for differences that you may or may not know pertaining to. Problems with this approach include varying expenses, rents, and management. Whether or not you’re an investor or appraiser I would just 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