Updated almost 7 years ago on . Most recent reply
City Law Problems with a MHP
Hello Everyone,
I found a park in a bigger city and I assume that demand and everything is good for the time being because there is a bigger problem currently. The seller has stated that the lots are grandfathered for 51 lots, but currently the city is now only allowing 25 lots and had basically forced out tenants with warranted trailer inspections. Currently it is "fully occupied" per the city's lot allowance. Seller had indicated that the city said they would only be willing to go up to 35 lots, are demanding park upgrades, and demand newer homes be brought in.
This sounds like a huge opportunity. However, the seller says that he has already been in a legal battle with the city and he is selling to "cut his losses" and let another investor come in and deal with it.
My question is, shouldn't there be a sure way to win this as there are plenty of wrongdoings by the city?
Thank you!