How do I sell a mobile home park by owner?

Selling without a broker saves the cost of one, but it moves the work to you. A park sale is slower and more personal than most business sales, because the people living there are watching. You will be answering questions, organizing records and managing a quiet process at the same time as running the park. Plan the work before you tell anyone you are selling.

Build the data room first

Gather what a serious buyer will ask for: the rent roll for each lot, bank statements, financial statements, a site plan, and records of work on water, sewer and roads. Add the resident agreements, park rules, insurance documents and a list of any homes the park owns. When the package is organized, buyers take you more seriously and questions arrive in an order you can manage.

Keep residents calm and the sale confidential

News of a sale can worry residents about rent and about the future of their homes. Tell as few people as you can, use a confidentiality agreement before sharing details, and decide in advance what you will say to residents and when. A calm, honest message at the right moment is better than rumours. Ask your lawyer whether you must notify anyone.

Screen buyers

Ask each interested person for a short profile covering their experience, how they plan to finance the purchase, and what they intend to do with the park. A lender’s letter or proof of funds shows they are serious. Meet people you are comfortable handing the community to. For the general approach to a sale without a broker, read how to sell a home-based business.

Professionals you will need

Bring in a lawyer to prepare the agreement and handle the transfer, and an accountant to advise on how the sale is structured and reported. Both are worth having before you receive an offer, not after. They can also tell you which rules about residents and land apply to your park, which this page does not cover.