Buying a park home

Jowelsh9239

Hi everyone
My dad is selling his house and has found an over 55 residential park home he wants to buy. It’s an all year round park etc however our solicitor has informed us they don’t deal with park homes :mad:

So I rang a solicitor that does and she was super helpful she said technically we don’t need a solicitor as park homes are almost like buying a car so to speak.

Our solicitor has said once Dads house sells the funds will be transferred to him. Now how do we get them to the seller of the park home ?? Sorry if it’s obvious but I didn’t know how we could transfer £122,000 and also do money laundering checks ? The estate agent for the park home have offered to take the payment and act as a third party but me being cautious how do I know they are legit it’s a lot of money to lose! Or do we stump up the £570 and pay the park home solicitor

[Deleted User]

You do realise that when it comes time to sell you probably won't get anything like the price paid?

Has your father talked to other people on the park to see how sales are handled, how much the previous owner actually gets? Google the park to see if there are complaints as to how things are handled? This park could be the exception to the rule, but worth exploring.

Its a lot of money to throw away.

Quick google 'buying a park home' came up with this, I don't know if you have already seen it but looks like a good starting point https://www.gov.uk/government/publications/buying-a-park-home

It does recommend using a solicitor. Would you take a mechanic with you when buying a £10k car? Why not spend £500 on a solicitor when spending £122k on a park home (that can be an even more problematic transaction)?

General things to consider in a park home lease https://parkhomes.lease-advice.org/article/buying-a-park-home-things-to-consider-2/

This could be very useful https://www.thephraa.website/phraa-news/

There is a story in the Guardian of one owner who had a very nice site owner, she died, and the site was purchased by a fairly unpleasant chap who bullied residents about repairs, and frightened off buyers so home owners were forced to sell to him for a pittance. Things can change, and not owning the ground the home is sited on/the lack of protection, leaves a home owner very vulnerable.

sal_III

The best way to buy a park home is to not buy a park home. There are probably some exceptions, but majority are money grabbing traps. And the exceptions will soon be bought by greedy investment firms/hedge funds etc. who will turn them in money grabbing traps.

If the second solicitor is dealing with park homes why not use her services?

Cash_Cow

Be incredibly careful - they seem to scam owners and fleece them. So many terrible stories out there. Personally I'd run a mile on such a fee ridden depreciating asset - and then the comedy when you want to sell or are turfed out when the caravan is 20yrs old. Small print hell...

Jowelsh9239

Thanks everyone yes we are aware etc etc wanted advice on money aspect not park home living

muhandis

For the money aspect I'd just stump up the £570 for a solicitor.

Jowelsh9239 wrote: »

Thanks everyone yes we are aware etc etc wanted advice on money aspect not park home living

kazwookie

Stop your father, it is a scam, get him to keep for now his money in the bank.

Park homes are from what I have read a lot of trouble, rents / maint fees/ having to move off site / no where to go to etc etc.

You will have to cover the money laundering rules. ie show ID's / bills etc.

You can move the money via a bank transfer but t his is likely to cost, and you should check with your bank how much before you even agree to anything.

Jowelsh9239

Guys we are happy with buying the park home it’s covered by the mobile home act it’s a residential park not a caravan park where they increase fees by 1000s please I just wanted advice on the transfer of funds

need_an_answer

Its about £30 to do a chaps transfer via your bank to the nominated account that the park home want you to credit.


No notice needed to the bank you just need to go in before around 2pm to ensure funds are credited that day