Good question, what are the steps and timing when you buy MHP from us? Here’s an outline of what you can expect:
- Start with a phone call, I tell you about the park and why we are selling and answer any questions you have about us.
- I’d like to know a little about your goals, real estate experience and how you plan to fund the purchase.
- I’ll send you any information you’d like about the park including a P&L and rent-roll and suggest you complete a drive through of the property within a couple of days.
- You write an offer and we meet to review, discuss and hopefully, come to an agreement!
- You pay the deposit and we open escrow.
- You start the due diligence process and I’ll provide any and all information you need to evaluate the park.
- You’ll engage lender(s) and work to secure financing.
- Close will be scheduled for a date that meets the seller and buyer’s mutual needs.
Total time from signing to close could be as short as 45 days. If buyer and seller have agreed to delay or time the close to coincide with other events, the target close date could be several months out.