The Value of Your Mobile Home Park
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If you have decided to sell your mobile home park, you are likely concerned about the offers that you might receive. Without a doubt, you might associate your mobile home park with a high value and expect high offers. However, you might not always get the offer that you might have imagined. If you attempted to sell your mobile home park but were disappointed in the offers you received, you might be in need of tips on receiving the best and highest value for your mobile home park if you're going to sell it. For helpful tips for improving the offers that you receive, you must contact Oxgord MHP as soon as possible.
Oxgord MHP is an acquisition company dedicated to purchasing mobile homes and mobile home parks. Our company is experienced in fast cash sales, and our team of experts is prepared to guide you through the sale of your mobile home park to ensure that you receive a payment as soon as possible. When you are ready to sell your mobile home park, you must contact Oxgord MHP to learn more about whom we are and what we do.
The Importance of the Highest Offer for Your Mobile Home Park
I need tips on receiving the best offer on my mobile home park. Why do you need to get the highest offer for your mobile home park? To understand why you are interested in selling your mobile home park at its highest value, we must first understand some of the most common reasons for selling mobile home parks. The decision to sell a mobile home park does not come easy for anyone-especially not to those who have dedicated many years to the park. When you purchased the park, you were likely looking forward to continuing to benefit from the revenue created by the park for many years. You might have purchased the park with the intention of leaving a stable source of income for your family and the upcoming generations. Whatever the case, when you purchased your mobile home park, you probably did not consider the possibility of ever having to sell it. Some of the most common reasons for deciding to sell a mobile home park include the following: family emergencies, management issues, loss of interest, sudden inability to handle the responsibility of owning the park, diseases, sudden disabilities, retirement, relocation, debt, death, etc. Whatever the reason, you are in need of quick cash and selling your mobile home park is likely the best possibility of getting the money that you need. Because you need the cash for serious reasons, it is essential that you receive high offers.
The Reality about Selling Your Property Quickly
Consider some of the common reasons for selling a mobile home that were briefly mentioned above. If you find yourself in a situation of needing to sell your property for any of the reasons listed above, do you think that you would have time to spend a few weeks or months evaluating offers? Unfortunately, many mobile home park owners decide to sell their parks in desperation. Although they are interested in receiving the highest offer available, they are short on time; therefore, sellers accept lowball offers for their property. There are many companies and buyers in the industry that will not hesitate to take advantage of sellers looking to complete a sale as soon as possible. Because of that, you must be familiar with the value of your mobile home park and the park's potential.
The Value of Your Mobile Home Park
The value of your mobile home park is affected by many things; if you want to receive high offers, you must have a thorough understanding of how the value of your park is established. One of the major components of the value of your mobile home park is net operating income. Net operating income is determined based on the income generated by the park and the expenses necessary to keep the park operational. The value of your park can also be affected by the risk attached to it. How likely is the buyer to benefit from the purchase? Will the buyer need to invest unreasonable amounts of money to the park before seeing a profit? Are their major issues with the mobile home park? The risk associated with your mobile home park is affected by all of the following: the park's appearance, the park's expenses, the need for park renovations, the total number of lots and mobile homes in the park, the number of empty lots and mobile homes in the park, undeveloped or underdeveloped land, the park's location, the park's infrastructure, and the park's rents, for example. These are just some of the many things to consider when you decide to sell your mobile home park and need to establish its value to ensure that you are receiving fair offers.
Tips on Getting the Highest Offer for Your Mobile Home Park
What are some tips on getting the highest price on your mobile home park? Before you sell your mobile home park, you must do a few things to ensure that you receive the highest offer for your park. You might have assumed that your mobile home park was ready to sell immediately; however, spending some time evaluating the park in its entirety could help you identify areas that need work. When you address these areas, you are likely to receive higher offers. A few tips on getting the highest offer on your mobile home park are listed below:
- Increase the park's revenue. If you are interested in a high offer for your mobile home park, you will have to make the park irresistible for potential buyers. That is, you will have to increase the park's revenue so that potential buyers are interested in your park. Higher park revenue will result in higher offers from interested buyers. How do you increase your park's revenue? The first thing you must do to raise your park's revenue is to raise the rent (mobile home rent and lot rent). Raising rents even a small percentage can lead to a significant increase in revenue. You must also fill vacant homes. If there are any vacant mobile homes in your park, you must rent them out. If all the mobile homes in your park are rented out, your park's revenue will increase. You might also consider metering park utilities, such as water and sewage. When you meter these utilities, your residents are more conscious of their use of the utilities and financially responsible for the utilities that they use. If you have empty lots in your mobile home park, you could increase the park's value by bringing in mobile homes to these empty lots.
- Cut the park's expenses. If your park's expenses are too high in comparison to the revenue that the park is bringing in, receiving a high offer is unlikely. You will need to cut costs wherever possible. One of the expenses that you might not have considered to be hindering the value of your mobile home park is your management team. How much is it costing you to keep your manager? Could you find a manager to do the same work at a lower pay rate? Although you might be hesitant to change your manager, doing so could alleviate some expenses. You should also consider the cost of utilities. Could you negotiate with your provider for a lower cost? If not, you could change to a provider that is more cost-effective. You could also attempt negotiation the company that takes care of your trash. These companies are often willing to negotiate with mobile home park owners to keep your business.
- Upgrade your park's appearance. Imagine two mobile home parks with similar revenue, similar costs, and similar layout. Now, imagine that one mobile home is well kept while the other is not. If both mobile home parks go on sale at the same time, which is likely to get a higher offer? Without a doubt, the mobile home park with a better appearance will get higher purchase offers. To ensure that you receive a high offer for your park, you must complete certain renovations. There are many renovations that you could do to increase the offers you receive. For instance, you could renovate your park's entrance including your park's sign. This is important because your park's entrance and sign establish potential buyer's first impression. You could also upgrade your park's fences and streets as well as landscaping.
If you follow the tips above, you are likely to receive a high purchase offer. Although completing the tips above requires some sort of investment of time and funds, you can be certain that you will see a return when you sell your mobile home park after receiving high offers.
We Provide You with the Highest Offers
At Oxgord, our experts in mobile home parks will provide you with offers that you will not be able to resist. After you contact our company, we will provide you with a preliminary offer range. After visitation and thorough evaluation of your property, our team of experts will provide you with a narrower offer that more closely represents the value of your property and our final offer. Our team understands that you want to sell your mobile home park; therefore, you can be certain we will provide you with a satisfactory offer that you will not be able to reject. For more information about our offers for mobile home parks, you must contact us as soon as possible.
Oxgord MHP is a company dedicated to purchasing mobile homes and entire mobile home parks throughout California and specific areas around the country. Our company is focused on purchasing mobile home parks as soon as possible. We are proud to have a history of completing sales within as little as one week. At Oxgord MHP, we ensure that there are no extra parties involved in the selling process; this guarantees that there are no extra fees preventing you from receiving the full amount of the sale. We never charge any fees, and we pay in cash. If you are interested in selling your mobile home park to Oxgord MHP, you must contact us at your earliest convenience.
Why Choose Oxgord
Oxgord MHP provides top dollar for your mobile home park. We will buy your park from you regardless of its condition – we’re willing to put in the work to run an efficient and admirable park, and we’d be happy to take yours off your hands so you can focus on other areas of life.
If you wish to learn more about selling your land, contact Oxgord MHP today. You will doubtless have many questions about the selling process and what to expert in the days following an agreement; we’ll gladly talk with you and give you all the details you need to know about selling your park.
Don’t hesitate to reach out to our representatives at Oxgord MHP. We are available around the clock to take your questions and make an offer concerning your park.