The price of the campground is $3,500,000.
All of our numbers are verifiable and consistent. Below is one scenario for financing.
Most banks will require about a 25% cash down payment.
So … You purchase campground for $3,500,000.
25% Down ($875,000) Down Payment
Balance Due $2,625,000.
An example would be that the bank will finance this amount for 20 years at 5.5% you would have a monthly payment of about $18,000.
This campground with current income can afford to make this payment, hire the workampers along with other help needed to operate this campground during the summer months and leave a nice income for the manager/owner/operator.
Facts about buying a campground.
This is a cash to the seller sale. The purchaser will need to have cash, or be able to secure the proper financing. We will be able to refer a perspective buyer to a bank interested in financing this KOA campground based on the following:
Buyer must have cash on hand for the down payment. If you need to sell your home first, we will not wait.
Down payment money cannot be borrowed money.
Buyer must have excellent credit to purchase this business.
Seller is not willing to take a second lien, carry a first lien or wait until the buyer has adequate down payment.