Like most marketplace the Seller usually wants too much and the purchaser wants to pay too little to get mobile home school. Certain buyers may have different motivations for choosing a 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 in the value of a mobile home park for the typical buyer who will continue 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 of the 3 approaches to determining the value of that real est. They are the Cost, Sales, and Income Approach.
Unless you are coming up without the pain . value of a brand name new mobile home park or a single is predominately vacant, I do not see any reason to use the cost approach. It is not likely if you have a new mobile home park will be built nearby and what it would cost to build a new park does actually take into account the amount of time, effort, and funds it takes to fill that park up with occupied and paying residents.
As far given that the Sales or Market Comparison approach to value, this can be highly suspect. Need to based on comparing the sale with the subject property along recent sales and adjusting for differences that you might not know with regard to. 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 from that.
Lago Vista RV Park
2871 Hwy 72 W, Three Rivers, TX 78071
(361) 436-0845