Can Park Homes be resold?
Yes, Park Homes can be sold on the open market, although the purchaser must be approved by the park owner (who cannot unreasonably withhold approval). This is especially important on retirement parks where they may be a restriction on the age of prospective residents. Before a sale can proceed, homeowners need to inform the park owner that they intend to sell their home and the price for which they are intending to sell it. The park owner is entitled to a commission share of the sale, which currently stands at 10%. This figure is due to be reviewed and possibly amended in the near future. This transfer fee is not comparable with commission payments made to Estate Agents. Rather, it reflects the fact that the pitch and the amenities of the park add to the resale value of the home. It also reflects the fact that the value of the home is likely to have increased (because the land has increased in value) and the resident is paying the park owner for as share in that increased value. Transf
