So, you want to sell your RV Park or Campground?
PRICE IT APPROPRIATELY! Even if a buyer agrees to your high price, the bank’s appraiser won’t likely give you an appraised value that will lead to a successful closing. Pricing too high in the beginning will lead to the lowest price when you finally get a buyer. Your property has then become ‘market worn’ and buyers wonder what is wrong with it. If you price it competitively for the market you will attract more capable buyers and get more offers in the long term. Get expert pricing advice in advance before you ever tell anyone it is for sale! …don’t just pull a number out of thin air!
KEEP ACCURATE DETAILED RECORDS If your income from the park is a mixture of credit cards and cash, keep a detailed record. Your income reports should match your bank deposits. If you do a lot of cash transactions, keep you own separate notebook for cash transactions. Write them down by date(s) and $ amount for each one. Too many people try to avoid taxes. If you don’t pay it as you go in the form of income taxes, you will PAY with a lower price on your park when you sell, because your asking price can’t be justified if you hide income!
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