Is there a formula to how much the brokers are marking these things up?
If a national broker has it marked at $1.1mm and I value it at $750K is that too far off?
Thanks,
Toben Blalock
Depends how long on the market, whether seller is truly motivated or not. National broker specifically specializing in MHP may be aggressive, but probably not out of touch with reality. Other brokers may be out of touch with reality, who knows.
I think you probably won’t get a response at $750, but there’s no harm in trying a “hold your nose bid.”. That’s a bid that’s so low that it STINKS. Hope that was good for a laugh.
1 Like
Its real estate. Brokers and sellers price their real estate how ever they want to. Its the Buyers job to figure out if it is worth it or not. Some people are out of touch with reality and those properties sit. Just because its a mobile home park doesn’t mean it doesn’t follow the same general rules of real estate.
@toben I would stick to your Buying Formula and not on how the brokers price things. They are in most cases going to price high knowing that your going to discount for that bad septic field, the 9 vacant lots, etc. As the market gets more at the top, you will see asking prices that just don’t add up to reality. Stuck to your numbers and your cash flow requirements and you will be good.
1 Like