After a long time negotiating with seller, finally got a park tied up and under contract and doing my DD. BTW, highly recommend the 30 day DD guide - very helpful.
Anyways, everything is checking out well so far, and numbers are looking very good, but am a bit perplexed at one thing. There are no leases or park rules. Seller states that all residents are “tenants at will”. Park is in Massachusetts.
I am speaking with my atty about this and assume I will need to send out estoppel letters to all residents for clarification, but wanted to know if others have run into this and any issues to watch out for.