For all you mobile home park buyers who have attended boot camp. Do you use the contract provided? If so did you have any attorney look it over? Or do you use your own contract?
I have used the contract from the bootcamp and completed three deals with it.
Attorneys for the seller have not had a problem with it.
On one park my closing attorney approved it also.
I have not personally paid an attorney 500-1000 to review it.
Brian,This is my first park, do you start with a letter of intent when making an offer or go straight to the contract when dealing with a seller or broker?
Contract but you have to just change the part that says
There is no broker involved in the sale or the broker will get bent out of shape.
Lol - oversight on my part.
You have 30 days to back out at any time.
I have not had any problem getting DD $ back if I don’t like the deal.
An attorney or title company can have big trouble if they don’t give the money back.
Go straight to contract. We don’t use letters of intent as they are non-binding.
Brian & Frank thanks for the help!!
Dakotamobile, if the MHP is listed for sale by a Real Estate Agent on MLS (Multiple Listing Service), then the Seller will be paying for both the Listing Real Estate Agent & Selling Real Estate Agent Commissions.If this is the case, please search out another Real Estate Agent that has knowledge and has worked with Mobile Home Parks in order to submit the Real Estate Offer.Now finding this new Real Estate Agent might take a little leg work, but it would be worth your time and energy.In SC if you use the same Real Estate Agent as the Seller, you will not be receiving the same benefits that you would get if you had your very own Real Estate Agent.If the MHP is listed for sale by a Real Estate Agent on MLS (Multiple Listing Service), the Seller will be paying for all the Commissions,so it would be worth your while to get someone totally and completely dedicated to only you.We wish you the very best!