Your park owner probably thinks you don’t have the ability to buy the park. Your group is probably not on the owner’s “radar” as potential buyers. However, the resident group is often the most capable buyer in today’s market. Start by getting the park owner’s attention and interest in a positive way:
At least once a year (preferably every six months) send a letter to the park owner. The letter should say that the resident group would like to be considered as a potential buyer of the park. The letter should also include statements that:
- The resident group will pay a fair price for the park;
- The resident group believes it can get financing to buy the park; and,
- Selling to the resident group can give the owner tax benefits available from no other buyer.
All of these things are true.
The second page of your letter secures your right to notice if the park is to be sold. Your resident group has this right under MRL Section 798.80. However, you need to request this notice each year from the owner, in writing.
Because each resident group’s situation is different, you should contact me to determine the wording that will make your letter most effective. David Loop, Vice President of Resident Owned Communities, can be reached by e-mail, or with a phone call to 831-688-1293.