Checklist
RV Park Seller Due Diligence Checklist
You don't need all of this to start a conversation. You will need most of it to close one. Working through it early is the single best thing a seller can do.
Due diligence is the period after terms are agreed when a buyer verifies that the property is what was presented. It isn't adversarial by default — a well-prepared seller usually gets through it faster and with fewer renegotiation attempts, because there's nothing unexpected to find.
The pattern we see repeatedly: deals don't fall apart because a park had problems. They fall apart because problems surfaced late. Disclosing a failing septic field up front lets it be priced. Discovering it in week five of diligence blows up the trust the transaction was built on.
Start here if you're not ready
Financial records
This is what a buyer, a lender and an appraiser all start with. Gaps here slow everything down.
- Two to three years of profit and loss statements
- Two to three years of business tax returns
- Twelve months of bank statements showing deposits
- Current year-to-date income and expense detail
- Property tax statements
- Insurance policy and premium history, plus any claims
- Utility bills for the last twelve months (electric, water, sewer, trash, propane)
- Payroll records or contractor payments, if you have staff
- Any management or booking software reports
Rent roll and occupancy
Income is only credible when a buyer can see who is paying it.
- Current rent roll: site number, occupant, rate, monthly or transient, move-in date
- Security deposits held and where they're held
- Any written leases, site agreements or park rules
- Twelve to twenty-four months of occupancy history, by month if possible
- Rate sheet: daily, weekly, monthly, seasonal, and any discounts
- Delinquency list and collection history
- Reservation system data or booking calendar
Site and physical inventory
Site counts on paper often differ from what's actually rentable.
- Total site count and how many are currently rentable
- Breakdown by hookup type: full, water/electric, electric only, tent
- Amperage per site (50/30/20) and pedestal condition
- Pull-through versus back-in, and usable length
- Pad surface type and condition
- Cabins, park models, storage units or other rentable structures
- Bathhouse, laundry, office, pavilion, playground, pool condition
- Roads and drainage condition
- Equipment and personal property that conveys with the sale
Utility infrastructure
In Arkansas RV park transactions, this is where deals most often get complicated.
- Water source: municipal connection or private well; well permits and test results
- Water line age, material, and any known leaks or pressure issues
- Sewer: municipal, septic systems, or lagoon
- Septic or lagoon permits, capacity, inspection and pumping history
- Any notices, violations or correspondence from state or county health authorities
- Electrical service capacity to the property and distribution condition
- Metering arrangement and whether utilities are billed back to guests
- Propane, trash service and internet or cable contracts
Legal, title and land
Most of this comes through the title company, but knowing it early avoids surprises.
- Deed and current title status
- Existing survey, if any
- Legal description and total acreage
- Zoning classification and any conditional use permits
- Easements, rights of way and access agreements
- Floodplain status
- Any liens, judgments or unpaid taxes
- Existing loan documents: lender, balance, rate, maturity, prepayment terms
- Business licenses and any state or local operating permits
- Pending or threatened litigation
- Estate or probate documentation, if the property was inherited
Operations
A buyer is also acquiring how the place runs.
- Staffing: who does what, employee or contractor, and compensation
- Whether the owner lives on site or manages remotely
- Vendor list and recurring service contracts
- Marketing channels and where reservations come from
- Online reviews and reputation
- Seasonal patterns and typical shoulder-season staffing
- Known operational problems you'd want a new owner to understand
What the buyer does on their side
Alongside your documents, a buyer typically walks the property, may bring inspectors or specialists for utilities, septic or environmental questions, orders title work, reviews survey and zoning, and confirms the rent roll against deposits. On financed transactions, an appraisal and lender-driven requirements add time.
How long it takes
It varies, and nobody should promise you a number without seeing the property. Organized records, clean title, municipal utilities and a cash structure move fastest. Estate matters, survey problems, environmental questions, unpermitted systems and lender requirements all extend it.
This checklist is general guidance and is not legal, tax or accounting advice. Document requirements vary by buyer, lender and transaction. Work with a qualified Arkansas attorney and CPA on your specific sale.
Not Sure Where Your Records Stand?
Start the conversation anyway. We'll tell you what we'd actually need and in what order.
No obligation. No pressure.