Manufactured Housing Community Owners-Sellers
Are you interested in Selling your Manufactured Home Community?
If so, we provide expert and effective assistance in making the transition to resident ownership. For community owners, selling a community marks the conclusion of your service to your customers. If you are like most community owners, you have operated the community for many years knowing that it gave people an affordable place to live. You are justifiably proud of the role you play in helping to provide affordable housing. With a sale to the homeowners, selling the community becomes not only a way to cash in on your financial investment, but is also a way to leave a legacy of opportunity to the customers you have served over the years.
Why Should I Sell to the Residents?
At NeighborWorks Montana we understand the needs of sellers and buyers. We recognize that nothing is accomplished without a willing seller and an empowered and well-prepared buyer. As a ROC USA Certified Technical Assistance Provider NeighborWorks Montana has access to the community financing and industry expertise to enable residents to take advantage of the opportunity to purchase the community from you. We know how to make these deals a win-win for community owners and residents. As further incentive, Montana provides a state capital gains tax credit of 100% of the recognized gain for a mobile home park with 50 or fewer lots, or 50% of the recognized gain for a community with more than 50 lots, against capital gains or income tax for sales made to a residents’ association.
How Do I Go About Selling The Community to the Residents?
Resident ownership starts with you. We look for “for sale” communities with interested sellers. We first assess the economics and demographics of your community to see if we think it is a viable fit for resident-ownership. If it is, we present the purchase opportunity to the homeowners. If they are interested (and most are) then we proceed with a transaction that is the same as any other typical manufactured home community purchase and sale transaction. Our national partner, ROC USA Capital can provide financing for the purchase, with no down payment from the homeowners cooperative. With a willing seller and a willing community, we move efficiently through property due diligence, lender financing, and closing. Contact NeighborWorks Montana to learn more and to get started in your community.