The 3 Most Important Things Every Mobile Home Park Seller Should Know:
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Know Your Legal Notice Requirements Before Listing
In Colorado, selling a mobile home park involves specific legal requirements. Before—or when—you list your park for sale, you must provide required notices to residents, local government, and the appropriate state agencies. The notice must include information about the proposed sale and the residents’ opportunity to purchase the community. Failing to follow these requirements can delay or complicate the sale.
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Residents Have the Opportunity to Purchase the Park
Colorado law gives homeowners the opportunity to organize and submit an offer to purchase the community before the sale moves forward with another buyer. This does not require you to sell to the residents, but it does require that they be given the legally required opportunity and timeline to organize, evaluate financing, and present an offer if they choose. Understanding this process early can help create a smoother transaction for everyone involved.
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Early Communication Creates a Better Outcome
Selling a mobile home park can be an emotional experience for residents, many of whom own their homes but lease the land beneath them. Clear, timely communication helps reduce uncertainty and builds trust throughout the process. Consider encouraging residents to seek assistance from organizations that specialize in resident ownership, such as MHP Network and Thistle Community Housing, Colorado’s regional affiliate for ROC USA. When residents have access to accurate information and technical assistance, transactions are often more transparent, organized, and efficient for both buyers and sellers.
Have more questions? Reach out to Dan Hunt, founder of MHP Network or Tim Townsend with Thistle: [email protected] | 303-590-3272