In selling a used manufactured home already located within a park, what is required regarding escrow?

In the context of selling a used manufactured home that is already located in a park, it is necessary to use an escrow account to ensure a secure and authorized transfer of ownership. The correct answer emphasizes that escrow is required, particularly because this process protects both the buyer and the seller in the transaction.

Using escrow means that the funds from the sale are held by a neutral third party until all conditions of the sale are met, including the completion of necessary documentation and a signed statement confirming that everything is in order. This approach ensures that the buyer receives clear title to the home and that any obligations, such as park regulations or fees, are settled before the transaction is finalized.

In this instance, the requirement for escrow underscores the importance of legal compliance and financial protection in real estate transactions, particularly in situations where mobile or manufactured homes are involved, given their unique nature and the potential for complications in ownership transfer.