I've found a small 25 space park in Texas, I'd like to make an offer on.
19 'Rented' spaces, 17 POH, and 6 vacant.
Is there a suggested 'form-letter' to use for this? It is an older Mom / Pop park, and the asking price, in
my opinion based on Frank's formula is about 30% overpriced.
I'd like to make the $ offer, and ask for owner financing, probably 5% to start. Plus would ask for 60 days due diligence, knowing they may not go for that.
Not confident a bank would finance, but not 100% sure on this. This is being offered by a realtor-office.
The last time I made an offer through a realtor, they had in their standard contract that as long as financing found < 15%, it was a go..... sure didn't care for this.