Is Your Park For Sale?
We offer loans and coaching services to residents whose parks are for sale and for homeowners in resident-owned communities (ROCs) or on their own land who want to refinance their loans.
New Hampshire law gives you just 60 days during which the owner must negotiate in good faith with the tenants about buying the park. But you must offer a purchase-and-sale agreement within a 60-day window.
If you recently learned that your manufactured-home (mobile) park is being offered for sale, you’re probably worried about what that will mean for you, your home, and your family. Being worried is perfectly normal.
The good news is that New Hampshire law gives you more rights than you probably think you have. You and your neighbors might even be able to buy the park and run it yourselves, as a resident cooperative (co-op). Buying the park puts you, the residents, in charge. You vote each year on the co-op's budget, you set the rules, you decide what gets fixed and when. You can make your community whatever you want it to be.
The type of sale being proposed determines how quickly you need to respond. The first thing you should do is call us at ROC-NH™ to understand your rights and your options. You might not get this opportunity again.
ROC-NH™ is a program of the New Hampshire Community Loan Fund, Inc. and a ROC USA® Certified Technical Assistance Provider. ROC-NH™ is a registered service mark of ROC USA, LLC.
For residents wanting to know more about the acquisition process (buying their park) please contact Hannah Chisolm
For park owners wanting to know more about selling their park to residents they should contact Hannah Chisolm.
This is usually very good news. It often means your current owner doesn’t have an offer from another buyer, and possibly prefers to sell it to the residents. This can happen for a variety of reasons, most often the owner’s wish to retire or simply to get out of the manufactured-home-park business.
The decision process for residents is mostly the same, but without the immediacy and stress of a 60-day deadline (though the owner might set a deadline for other reasons), and without a competing offer you need to match.
This is how most parks have been converted to resident-ownership. In New Hampshire, every park owner who receives a signed purchase and sale agreement for the land must notify every tenant by certified mail that he or she intends to sell the park. N.H.’s legislature passed this law in 1988 to give manufactured-home-park residents the opportunity to control the land under their homes.
Why? From the date you and your neighbors receive that notice, state law gives you just 60 days during which the owner must negotiate in good faith with the tenants about buying the park. If you and other tenants decide to try to buy the park, you must offer a purchase-and-sale agreement within that 60-day window.
The ROC-NH team is used to the tight deadline, but there’s a lot of work to be done in that 60 days. If you receive a Notice of Park Sale, contact ROC-NH immediately at 800-432-4110 to learn what it means for you!
Contact Us
Contact Hannah Chisholm, to discuss selling your park to your residents.
Call Hannah: 603-856-0753
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