I have had an offer accepted for my first MHP. Now the seller has come back with several edits (mostly minor points) to the contract I sent (taken from Bootcamp) that he and his attorney have made. The counter contract has probably been edited 20% from it’s original version. I’m wondering if now would be the time to involve an attorney specializing in MHP to make sure I’m not missing anything in this flurry of edits.
At what point in the deal do you normally start involving the lawyers?
I had an attorney review my first offer BEFORE I sent it. Yes, get an attorney to review it ASAP. Do not sign it or it likely will be a one-sided contract and not in your favor.
On a side note, they usually feel they have to justify their fees so you can bet he’ll make at least a few changes
Your situation is not abnormal and is almost always the norm. Most sellers will mark out little things here and there especially on contracts that look unfamiliar to them. If you are using your own closing attorney, then you should be able to have him/her look it over and explain the changes that were made. Don’t get frustrated with this process as this is all a apart of doing business in the commercial space.
One other point I should make here. Always send your contracts as a hard copy or pdf. This way it makes it a little harder for the seller and their blood sucker to go in and edit the contract. This also makes it easier for you to see and understand all of the changes that were made. I’ve been guilty of sending the word format contract in the past and have almost gotten screwed as a result.
I involve my blood sucker from the beginning. He reviews all paper prior to sending and everything received.
The purpose of having lawyers is to protect their client and insure everything is understood and done properly. After the fact is too late.
Thanks for the feedback everyone. Sounds like I need to get an attorney sooner rather than later. Can anyone recommend a good attorney with deep MHP experience?
You don’t really need to get an attorney with MHP experience. What you want is an attorney who specializes in closings. There are some lawyers who are a jack of all trades guy and there are some who specialize in particular areas of the law. You want the specialist who deal with real estate transactions. Google “Closing Attorney+your home town or town where the park is”. Call up a few and decide who you would like to work with.