Selling Mobile Home Along With Lot
If one were to buy a mobile home park. Could that person then sell each home with the lot it sits on?
Also if someone has a site or any suggestions on where to check out mobile homes to buy and move to another park would be great. thanks
Sounds like you're really asking about how one goes about selling off individual lots from MHP.
Around the country, there has been some of this, and some have been "Condo'd" and then each resident allowed the opportunity to buy his own MH lot, and a share in the common areas.
Where this has been done successfully, the residents have organized, then hired lawyer to condominiumize their MHP, then bought the MHP from the owner.
Expensive, lengthy deal, and lots of things to consider.
Probably you can find lots of info online about "MHPs and condominiums".
In WA State, several years ago, several MHPs were condo'd, and there was even, for a short while, a state office whose function it was to promote the idea.
The state policy was to help MHP residents keep their little home patches and not be tossed when the MHP owner sold the MHP to some commercial developer who'd scrap the MHP, toss the residents, etc.
I know of 2 or 3 MHPs in WA where this was done and the MHP residents did buy their own lots.
Financing for the new condo deal was not easily found, I recall, and several efforts were thwarted because no financing was found.
The old, now defunct Sea 1st Bank did one or two, but I think they would not have wanted to do any more. Too much trouble for them.
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