We’re trying to turn around a neglected park. As part of our efforts, we’re planning to bring in some newer homes. I found a good deal on a 16’ wide 2002 model that looks good and really dresses up the park. We don’t want to own any homes, so we’d like to sell it asap. In the interest of attracting more buyers, we’re trying to keep the price low enough that it just covers our costs.
We’ve had a lot of interest, but every serious buyer (with $$$) wants to know our 'bottom line cash price" and they all intend to move it out of the park. We’ve invested a lot of effort in finding the home and getting it set up. We really don’t want to lose it. I understand that once it’s sold, the buyer can do whatever they want with it. Or can they???
When searching for homes, I’ve come across many (most) for sale by parks that require the buyer to keep the home in the park for at least 4 years. I spoke to the manager from one park and asked what would happen if the tenant violated rules and was evicted. He said they were still obligated to pay rent for 4 years.
I spoke with my attorney about the matter and he said that if I bought a home directly from someone who purchased it with such an agreement, I’d be free to remove it and the park would have recourse only against the person who agreed to keep it there for 4 years.
I think some of the problem in the area is cheap land and lax regulation. We’ve lost 3 homes from the park when they were hauled out by a dually pickup truck. Illegal, yes. But nobody seems to care.
I’m wondering if there are any creative ways to sell the homes and keep them in the park. I realize this comes across a bit like wanting to have my cake and eat it too - I don’t want to own the home, but I don’t want to lose it from the park. Still, if there’s an effective means of accomplishing this legally, I’d like to know. We’ve thought about rent credits and would do that if necessary, but we really want to avoid rentals if at all possible. We’ve talked about having buyers sign a one-year lease, but if they sold the home, the buyer would not have to honor the lease.
The only real solution we’ve come up with is to put a price on the home that would cover replacing it if it’s moved. But if we could figure out a way of keeping the lot rent (our ultimate goal), we’d like to offer the home at a lower price (our actual cost). I hope that makes sense.