In this video, OMB Solicitor Calum Ball gives an overview of the process of purchasing or selling a manufactured home.
Transcript
Process Of Purchasing Or Selling A Manufactured Home
Hi, my name is Calum Ball, I’m a lawyer here at OMB Solicitors in our property team. Today, I’m just going to have a brief chat to you about the process of purchasing or selling a manufactured home. So, manufactured homes are essentially an alternative method of housing and property for retirement villages.
They are different to purchasing normal property or otherwise purchasing into a retirement village. The purpose of the manufactured homes and the Manufactured Homes Park Act is to essentially give some guidance and the operation of where you purchase the property.
You hold the house or the built structure on the property, but you essentially then lease the floor space or the land underneath the house from the park owner. So, the process involved there is that similar to buying any other property is that you find the house that you want or the manufactured home, standard offer accepted, contracts drawn up.
Then a part of the contract is that you’ll enter into a set of what’s called site rules, now, this is with the park owner. These rules essentially govern the bylaws, all of your obligations, your ongoing charges, etc, moving forward.
So, because of this, it’s essential that you get some advice around that because those park rules obviously basically govern how you live and operate within your new dwelling.
When it comes time to sell, it’s again a pretty straightforward process in terms of similar to buying any other properties that you get a buyer. The only thing is that, that contract then just obviously becomes conditional upon that new buyer entering into the site rules with the park owner.