your park for sale?
when investors buy parks, residents pay, and pay
when investors buy parks, residents pay, and pay, and pay
listen to this NPR report: Why Are Investors Buying Up Mobile Home Parks And Evicting Residents?
park for sale
know your rights
You recently learned that your manufactured-home (or mobile-home) 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. For most people, a home means security. Suddenly it’s feeling less secure.
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.
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.
Let’s look at the two most-typical types of park sales, and what each means to residents:
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.
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.
If you receive a Notice of Park Sale, contact ROC-NH immediately at (800) 432-4110 to learn what it means for you!
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.
This is how most parks have been converted to resident-ownership. The ROC-NH team is used to the tight deadline, but there’s a lot of work to be done in that 60 days.
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.
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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.
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