Buying an RV Park
Does anyone have experience, private or otherwise, in purchasing an RV park? If so, what types of things do you address on the formal offer that may differ from buying a typical single-family residence?
My husband and I are preparing to take the giant leap into campground ownership. We feel we've done our homework and have a huge advantage in having lived at the campground for several months, and worked closely with the owners. Not only do we trust them, but we've seen first-hand how things operate, at least over this timeframe. We'd both like to do this as a private sale, as we've both been burned in previous real estate deals by so-called "professionals". We're comfortable in doing this, as is our banker, who was also their banker. There's a well established history, and we've had complete access to financial and repair records for the past several years. There's also a current appraisal on file, as they just did a re-fi a couple of years ago, before their grand-child had the nerve to be born in another state.
My husband and I are preparing to take the giant leap into campground ownership. We feel we've done our homework and have a huge advantage in having lived at the campground for several months, and worked closely with the owners. Not only do we trust them, but we've seen first-hand how things operate, at least over this timeframe. We'd both like to do this as a private sale, as we've both been burned in previous real estate deals by so-called "professionals". We're comfortable in doing this, as is our banker, who was also their banker. There's a well established history, and we've had complete access to financial and repair records for the past several years. There's also a current appraisal on file, as they just did a re-fi a couple of years ago, before their grand-child had the nerve to be born in another state.
