License requirements to sell mobiles in texas

mobile home university
1

Which License is needed for a park owner to  Rent to Own mobile homes in his/her community to conform with the SAFE ACT? … Texas.Broker or Retailer?

2

It is not the safe act, it is the Texas requirement you be licensed. You should have a RBI. Can you get away with less… maybe,if you never set a home and never rehab one. The RBI is a weekend class and a test. Austin is a nice place to visit. You sales person needs to be licensed under you- or you can designiate them, but that has risks.

3

So what is all the talk about getting licensed to conform with the SAFE act?

1 Like
4

In order to sell used homes in Texas you have to have a Retailer and/or Broker license. If you sell new homes, you must also have an Installer license. The two or three licenses are granted after you pass a test in Austin (and everyone pretty much passes, they give you the answers). The first part of the course includes the info for a “Salesperson” license.

Separately, if you LEND money then you need to be SAFE act certified and obtain a creditor’s license from the Texas Office of Consumer Credit Commission. (OCCC).

The SAFE issue is that a lease-to-own can be construed as a disguised mortgage and therefore a true “sale” as of the date of the contract (not the date of execution of the option). For this reason we do not do any lease-to-own contracts, but only “true” sales through a licensed OCCC MLO (mortgage loan originator). (And/or “true” rentals without any option).

Brandon@Sandell (not Brandon Reynolds, but hey great new site design, I think.)

5

good explanation Brandon. So as long as I am not Lending and only selling I can get by with the appropriate Texas license?
So that being said the new CASH program they are saying I need to be licensed to use the program. I would probably need the combo of retailer/broker/installer Texas license I assume.

6

Indeed, for the CASH program you would need an RBI license in Texas.

7

What is the other alternative to get the homes using the CASH program without the RBI license? Can someone work with the community owners and take a small fee?