Good Morning -
We are in contract to purchase a portfolio of parks with a large number of park owned homes, and I’m wondering if anyone recommends separating the purchases into two separate P&S contracts?
The reason we’re thinking of doing that is:
- If an issue arises with the park owned homes (i.e. title, condition, etc) we could re-trade only the purchase of the POH’s
- If we run into issues financing the inventory of POH’s, we could request that the seller carry a note on the homes
- The parks are located in a “point of sale” reassessment state. By separating the purchases we are discounting the value of the land which will in turn limit our re-assessment exposure.
Any thoughts / recommendations / advice would be much appreciated.