7. If park owner decides to sell
Today, even if a park owner has made the decision to sell the community to the residents, he has already received numerous offers from other potential buyers and will be offering the community to the residents under terms and conditions that meet the best offer he has received. FCSG will review the price, terms and conditions of the contract to ensure that it is fair and determine whether the residents can operate the community effectively.
8. We represent homeowners!
FCSG represents the homeowners association and does whatever it takes to ensure that the purchase is fair. If FCSG determines that the residents can't purchase the community based on the park owner's price, terms and conditions, we will negotiate on behalf of the homeowners association to structure a purchase that is acceptable.
1. A little history
The late 1980s and early 1990s saw the rapidly growing trend of homeowners purchasing their communities as a solution to increasing lot rent and as a way to "control their destiny." Today, there are more than 650 resident owned mobile home communities in Florida.
2. What gives residents the right?
Chapter 723, Florida Statutes, gives residents the right of first refusal to purchase their community if the park owner chooses to sell. Today, however, residents are no longer waiting and are making offers directly to the owner. FCSG has had several situations where the owner has sold, because the residents expressed their desire to purchase.
The homeowners association board of directors or acquisition committee contacts FCSG to schedule a meeting to learn about the purchase process. We realize that this may be the first step in learning about the process and tailor our presentation to the board's or committee's needs. FCSG is ready to assist no matter what level residents are at in the purchase process.
4. Community Analysis Form
When FCSG is contacted by the homeowners association board or acquisition committee, we ask that our Community Purchase Analysis Form be completed, so we are prepared to discuss the specifics about your community at the first meeting.
5. First Meeting
By the end of the first meeting the board or committee will have a thorough background regarding resident purchasing. If hired by the board, FCSG will determine through a market analysis a number of items including market value of the community and how many residents would be needed to purchase the community.
6. Second Meeting
Once the board or acquisition committee reviews the market analysis, FCSG will work with the board or acquisition committee to determine the type of action they want to initiate to the park owner.