Full hookup campgrounds in iowa - Southern Alabama RV Parks & Campgrounds




Why would an owner offer
seller financing on a campground?

Many potential buyers just don’t have the necessary capital or business lender resources to cash a seller completely out.

E ven if they do, they might be reluctant for what they consider an untried new venture in unknown waters. When that buyer opens the doors to their lender of choice, they will find many hoops they need to go through and many personal documents they will need to supply. Of course they will reach into resources for the down payment the lender requires (20% to 30%) – and added to that will be extra costs – like document prep fees, etc. It is a common misconception in this industry for a seller to assume that if a buyer has a great credit score and the necessary down, it’s pretty much a “done deal.” Not so. The entire business will come under a magnifying glass as much, if not more, than the potential buyer. In order to sell a campground it will have to appraise at agreed sale price or more, or the lender will not open the vault. In the meantime, the seller are “mentally packing” with fingers and toes crossed, hoping the lender says “yes” many weeks after the application process is first started. With lenders experiencing recent losses from escalating housing foreclosures, they are very cautious about lending money right now. They’re requiring more i’s to dot and t’s to cross.

With seller financing a buyer and seller can “get creative” to each others advantage. The agreement can be “interest only” payments, for a part, or full duration of the time frame before a balloon payoff is due. If a buyer has intentions of investing in something to bring in needed revenue to support the business, the agreement can contain escalating payments each year for the duration of the agreement – even adjusted interest rates (starting lower, and each year increasing one half to one percent). The balloon term can be as few as 3 years before the balloon payment is due in full, or the loan can run the full course of years until the entire balance is paid off. This creativity often makes seller financing attractive to a buyer and seller.

If you desire to have any amount calculated in amortization forms, please do not hesitate to call. Our intent at PARKS AND PLACES is to insure you understand all the “doors” available to you toward the goal of buying or to sell a campground or to sell an rv park.

These sites are 25 feet long, have a gravel pad and a BBQ grill,and are located in the back of the campground near the bird sanctuary. Good option for tenters who need water/electric.


Full hookup campgrounds in iowa

Full hookup campgrounds in iowa