I am currently doing due diligence for my first park. In the process I noticed that insurance for this park went up by 30% from last year to this year. When I asked the seller about this he said:
“It went up do to a slip and fall accident that happened and is currently in litigation.”
What is the best procedure moving forward. Should I wait to purchase until the lawsuit is settled? Do a master lease until it is settled? I don’t want to be liable for any legalities that happened prior to my ownership.
Thanks in advance!