Like most property the Seller usually wants too much and the purchaser wants to pay too little for every mobile home zoo. Certain buyers may have different motivations for purchasing certain park (1031 money, ability attain 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 continues to operate because a mobile home park.
Anyone that has seen an appraisal on a house or most epidermis real estate can have heard mention on the 3 approaches to determining the associated with that real est. They are the Cost, Sales, and Income Get near.
Unless you are coming up together with value of a brand new mobile home park or a single is predominately vacant, I do avoid seeing any reason to be able to the cost concept. It is not likely how the new mobile home park will be built nearby and what it would cost to build the most current park does truly 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 when your Sales or Market Comparison approach to value, this can be highly suspect. Individuals 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 pertaining to. Problems with this approach include varying expenses, rents, and management. Whether or not you’re an investor or appraiser I would certainly 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