Hi everyone. I have been talking with an owner about buying her park for some time now and before she is prepared to sell, she is convinced that she needs to get an appraisal done. She mentioned that she looked in the phone book and found a few appraisers, but when I look on their websites, none mention MHPs and most are residential appraisers with some commercial experience.
My question is, am I better off letting the owner use an inexperienced appraiser or should I introduce her to more experienced appraisers? Which is more likely to yield a lower value?
Some things to consider:
- Park rent is about $200 higher than the other area parks, yet it is of a much higher quality and in a much better location than the other parks. So the rent is warranted in my opinion.
- Occupancy is ~85%
Any insight is appreciated. Thanks!