Here Is What NOT To Do When Closing On A Sarasota Mobile Home!

Here Is What NOT To Do When Closing On A Sarasota Mobile Home

Hey Everyone! I hope you are having a great week so far and you’re staying safe out there!

We at The Mobile Home Dealer continue to do our best to deliver all of the most relevant information to you in the mobile home space and want to thank you for taking a few minutes to learn about what needs to happen for the sale of a mobile home to go through on leased land in Florida.

Just this week, we ran into an issue that needs to be addressed so that everyone watching understands what cannot happen when closing on a mobile home.

A Real-Life Example

We have a listing for a mobile home on leased land in South Florida. We received a written offer from an eager Buyer who wants to purchase the home from the Seller.

The Seller cannot move out of the home due to financial constraints and needs over six weeks to move out. The Buyer wants to move in quickly because they are currently staying with family and want their own place. The Buyer also wants to move in before being park-approved. Meanwhile, the Seller wants to be paid in full before closing so they can hire movers.

Do you see the problem here?

If not, let’s be a little more direct.

The Importance of Park Approval

As licensed mobile home brokers in Florida, we must have park approval on file for the Buyer in order to sell the home.

If we were to skip this step and sell the home to a non-park-approved Buyer who later finds out they cannot live in the park, we would have a serious issue on our hands.

Traditionally, at closing, the keys are exchanged, and all funds (minus any deposit) are handed over.

Right away, we have an issue here.

With both the Buyer and Seller putting the cart before the horse — the Seller wanting to be paid in full before closing and the Buyer wishing to move in before park approval — things are moving in the wrong direction.

To iron things out, we immediately stopped the sale and told the Buyer they needed park approval before moving any further.

This caught the Buyer off guard, but we stressed that without approval, we could not sell them the home, which would effectively end the deal.

We also told the Seller that they could not be paid in full before closing because the Buyer would then have no assurance of receiving the home once the Seller has all the money but hasn’t handed over the keys.

Once the Buyer was approved, we collected half of the sale price as a down payment and had the Seller sign an agreement to move out by a specific date. At that point, we would close on the home, and the Seller would receive the rest of their payment.

Following the Process Matters

At The Mobile Home Dealer, we often encounter unique situations like this, and without cooperation, the sale could easily fall through.

Although both the Seller and Buyer had valid concerns, it’s always important for both parties to follow the proper process.

The main takeaway here is that the Buyer rushed to close the deal without getting park approval.

If you are looking to buy a mobile home in Sarasota, Florida, you should always get park approval before closing. Moving into a home without park approval could lead to serious problems or even eviction.

You cannot buy a mobile home without park approval because the sale cannot be completed without management’s consent. Park management must ensure the new owner is a suitable resident who will follow the park’s rules and regulations. This process can take time, so start it early if you’re planning to buy a mobile home in a Sarasota park.

The key lesson here is that an offer is just an offer until park approval is granted. The closing date is when the keys are exchanged for the majority of the payment.

Attempting to sell or buy a mobile home in any other way will only cause unnecessary issues.

The Mobile Home Dealer is a licensed mobile home broker in Sarasota, Florida, and the surrounding areas. We provide professional buy-and-sell assistance to our clients.

If you have questions, please contact us through this link or visit our Facebook Page and send us a message.

This is Mark Kaiser with The Mobile Home Dealer — we help mobile home Buyers and Sellers achieve better lives!

Here Is What NOT To Do When Closing On A Sarasota Mobile Home!