February 22, 2008 - Orlando Sentinel
Resident collapses during College Park mobile-home owners hearing

February 20, 2008 - Orlando Sentinel
College Park Leisure Homes residents testify about rat, sewage problems

Park Conversion Preparation

Preparation is key to a successful park purchase. Purchasing a park is not a simple process, but as thousands of homeowners can attest, the results are worthwhile. Even if the homeowners within the park simply want to investigate the possibility of purchasing without making a commitment, following a few guidelines will make the process easier. This quick reference guide is not all inclusive, but it does offer the homeowners the basic steps for preparation, purchasing and management of a manufactured/mobile home community.

Preparing for the purchase of your park

1. Form an incorporated homeowners' association according to Florida Statutes 723.075-723.079. ('How to Incorporate' on Home page FAQ sheet)

2. Notify the park owner by certified mail (return receipt requested) stating the existence of the corporation and its purpose if not already done so.

3. Prepare, file and record a Notice of Right to Purchase (Right of First Refusal) with the clerk of the circuit court.

4. Within 10 days of the recording of the Notice of Right to Purchase, provide a copy of the notice to the park owner by certified mail and request a return receipt.

5. Form an Acquisition Committee, duties will include;

• Committee fills out a Purchase Analysis Form that allows FMO to see where residents are in the conversion process (process will be expedited if under 45-day right of 1st refusal)

• Meeting is held with FMO and the Committee to determine if ready to proceed and review contract outlining FMO obligations and fees.

• In-depth evaluation of projected income and expenses of park is performed.