Mobile Homes lease to own—Do parks need to qualify the buyer?

[Nikki Closser]

Hi! I’m seriously considering buying individual mobile homes and going the lease to own route. My question is about the park rules around this. 

Once the person pays off the mobile home, I’m assuming you want your name off of the lot lease. At what point does the park need to qualify the new owner. What happens if the park says no to the new owner, but they have already paid off the home to you? 

Or, maybe I have this process wrong? Just trying to work out at what point the lot lease is transferred to them and how to make sure the park gives them the OK. 

Thanks for your help!

[Michael Ablan]

@Nikki Closser -  It depends.  I require all new residents pass our screening in order to move into the park.  It wouldn't be fair to our other residents if we allowed the inexperienced MH owner to try their hand at screening because if they do it poorly, then we are all stuck with that resident for 6+ months.  A cancer poisons the entire system