I have a question about typical due diligence and financing contingency time frames in contracts to buy MHP’s.
I am negotiating a contract to buy a park. I have asked for a 30 day due diligence time frame followed by a 60 day financing time frame, or a total of 90 days. I had thought this was pretty standard in the industry.
The seller is balking at this. I just got off the phone with a broker and he says the due diligence and financing contingencies run concurrently. This seems rather short to me. I dont want to plunk down hard cash for the appraisal and environmental until I am comfortable with my due diligence.
What do you folks think?
Thanks in advance for your help.