Selling a campground takes a lot of documentation for the bank/lender. To make the process a little easier we have grouped document collection into three parts in order of importance to list, prospect/qualify and then ultimately to provide for the sale. If you have any questions along the way about obtaining or the use of these documents, please contact your CGMP representative right away. 

Financial Documents Needed First:

1. Tax Returns and Property Assessments (three years)
2. Profit & Loss Statements (P&L) with adjustments (past three years);  include a current year-to-date P&L certified by a CPA
3. Bank Deposit Statements for the last operating season and the current year-to-date
4. Property Tax bills (three years)

Please be sure the documents include the following information:

• The property descriptions should contain legal, survey, and land leases. Mineral rights. Any special arrangement in ownership of the property and/or business
• Details on improvements to the property used in the business, owned by the business, for business operations.
• Acreage, zoning, usable (buildable) acres, any special use area, or restrictions to the property
• Utility information should include a breakdown of 30/50 amp service and the type of sewer and water systems
• List of licensed campsites with utility breakdowns that also include any sites that may not be licensed, but are used in the rental pool of sites
• Campground amenities that might not be features of the transactional relationship, but that entertain or enhance the camper's stay. Examples could include a store or bar, internet, pool, rentals, water activities, laundry facilities and food service

Second Set of Financial Documents Needed:

1. Operations
   • 12 months of utility bills; electrical, utility deposits
   • Notice to vacate or cancel from the guest
   • Explanation of non-recurring capital expenditures and/or personal expenses that are reflected in historical financials that the new owner would not incur
   • Employment Details: Summary of staff names, positions, wages including detail of all forms of compensation and benefits (included but not limited to wages, rent compensations, health insurance, other compensation)
   • Vender list
2. Property
   • Personal property list, all equipment used in the business to go with the sale
   • Copies of any appropriate park blueprints
   • Engineering reports
   • Environmental report
   • List of known repairs needed for the business equipment and operations
3. Licenses, Policies & Litigation
   • Documentation on any ongoing litigation
   • Title insurance policy
   • Copies of all permits and licensing needing to be held by the park; all state and county health and licensing requirements

Final Documents Needed For Close:

1. Business
   • What name is the business, legal name
   • Insurance Policies
   • A list of material capital Expenditures over the last three years.
   • A list of current or ongoing Capital Expenditures.
   • Copies of all certificates of occupancy for all appropriate buildings
   • Copies of all permits and licenses
   • Copies of three years of property tax bills
2. Operations
   • Deposit Policies
   • Advertising, marketing, web, signed, trade shows radio, TV, etc.
   • Park rules
   • Site reservations systems site by site report, as well as seasonal campers for the past and current season
   • A three-year site reservation comparison, as well as a 2-year occupancy report

Recommendations For A Smooth Closing Process

• Phase 1 will be required for the lender paid by the buyer
• An Appraisal is recommended by the seller as soon as possible to verify the asking price this can save months in the closing process.