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Home Appraisal Services Bangor ME

The first thing to remember when trying to convince a seller to sell at a 10% cap is to make him think that it is still a 7 or 8 percent cap or less. The seller has no right to know your numbers -- they are yours because you have taken the time and effort to learn them.

Arthur Hammond
(207) 942-2051
Po Box 1547
Bangor, ME
Licensing Information
State: ME

License Number: CR000000000059
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

William Macdermott
(207) 990-3800
38 Lee St
Bangor, ME
Licensing Information
State: ME

License Number: CG000000000746
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Michael Soucy
(207) 848-3333
646 Bog Rd
Hermon, ME
Licensing Information
State: ME

License Number: CG000000000379
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Paul Fuller
(207) 942-7097
129 7Th St
Bangor, ME
Licensing Information
State: ME

License Number: CR000000001186
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

Patti Pringle
(207) 942-6773
510 Broadway
Bangor, ME
Company
American Heritage Appraisals
Appraisal Types
Residential, Commercial, EDI capable.
Licensing Information
State Licensed In: Maine
State License or Certification Number: AP#1768
License/Certificate Type: Licensed.
Counties Served
Penobscot, Hancock, Waldo, Piscataquis, Somerset.

Data Provided by:
Richard Moore
(207) 478-6322
Richard Moore Appraisals Po Box 657
Bangor, ME
Licensing Information
State: ME

License Number: CG000000002515
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Donald Gordon
(207) 947-7944
63 Norway Rd
Bangor, ME
Licensing Information
State: ME

License Number: CG000000000334
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Candice Spalding
(207) 942-6773
American Heritage Appraisal 510 Broadway
Bangor, ME
Licensing Information
State: ME

License Number: CR000000000404
Appraisal Certifications
Certified Residential
Conforms to AQB Criteria
Yes

Lowell Sherwood
(207) 942-8849
The Sherwood Group 77 Pine St
Bangor, ME
Licensing Information
State: ME

License Number: CG000000000009
Appraisal Certifications
Certified General
Conforms to AQB Criteria
Yes

Tavia Placella
(207) 990-3663
161 AA Landing Rd.
Glenburn, ME
Company
Elite Appraisal Services, Inc.
Appraisal Types
Residential, FHA, EDI capable.
Licensing Information
State Licensed In: Maine
State License or Certification Number: AP1585
License/Certificate Type: Licensed.
Counties Served
Penobscot, Hancock, Waldo.

Data Provided by:
Data Provided by:

How to Convince the Seller to Sell at Your Price

PARK INVESTOR TIP: How to convince the seller to sell at your price
Sun 10/18/09 01:26:49 pm
Dave Reynolds Archive

The first thing to remember when trying to convince a seller to sell at a 10% cap is to make him think that it is still a 7 or 8 percent cap or less. The seller has no right to know your numbers -- they are yours because you have taken the time and effort to learn them. You are putting these numbers together to represent your best estimate of the income and expense you will incur when you take over. You will not run the park the same way as the seller. Therefore you base your decisions on these numbers (just as the Seller would if he were buying the park).

Once you have completed your diligence and have a tight, 100% accurate budget, you know what the park can really produce in cash flow. Normally, this is much less than the seller told you. Sometimes, in rare cases, it is higher. In any event, to achieve your 10% cap, you are probably going to have to get the seller to reduce his price.

The first step is to "cook the books" yourself. Look at any expense item that the seller gave you that is higher than what it should actually be. Leave all of those numbers at the seller' s level. Next, tack on some more expenses for the "grey area" numbers such as administrative, travel, and management. And then add on a ton of proposed "essential" capital expenditure items, such as re-building the roads and utilities -- even if you have no interest in ever replacing them. You are about to enter in to a negotiation, and you need room for the seller to enact some negotiating.

Once you have all the pieces, arrange to meet with the seller. Have a complete set of your numbers to show him (bring two sets). Pick a neutral area to meet, like at a restaurant, so that you have his sole focus. If you meet at his home or office, you may get constantly interrupted.

The first key is to get him in the habit of saying "yes". Go down the numbers with him, starting with the revenue numbers. Start with easy assumptions like "the rent is $200 per month, right?" And get him to say "yes". Get him to say "yes" many times before you hit the "increased" expense items such as administrative and capital expenditure reserves. He may start disagreeing with you at this point, that ' s only natural. Be sure not to put a final tabulation on the sheet you have given him. He'll go straight to the bottom and know what you are up to.

Once you have gone down all the numbers, show him a second, new page. This one will have the totals and also the amount of debt these numbers will support. Use the bank as your negotiation weapon. Tell him that you would like to pay him more, but the bank will only loan so m...

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