thinking of purchasing - Posted by ellen

Posted by Tony Colella on April 10, 2006 at 10:27:44:

The length of time a park owner has to provide notice to a mobile home owner that they are terminating the tenants lease of the lot will be dictated by state (at a min time frame) and the lease itself.

In our state (NC), the time frame recently increased from 30 days to 60 days.

Just because a park sells does not mean you will have to move. Your rent may go up after your current lease expires but you may not necessarily have to move. If your home is a newer model and kept in good shape and your rent paid on time, there is little if any reason for a new mobile home park owner to ask you to move.

If the park is being purchased for what they call a “better use” then you may have to move so that something new may be built (stick built homes, Wal-mart, shopping center, office buildings etc.). Better use does not mean better for you or the land but better money wise and tax wise for the community.

If you can afford to purchase your own lot somewhere, that would be your safest bet. Sometimes rolling both the home and the land into a loan on a “land/home” property that you intend to live in can allow you good terms and financing rates.


thinking of purchasing - Posted by ellen

Posted by ellen on April 09, 2006 at 20:34:28:

What are the regulations, if any, on length of notice if selling the park? Do tennants have any say in the matter of sale? I am trying to feel secure for the next 20 years to live and improve my mobile home if purchased.