If notice of
a desire to purchase has been given under RCW 59.23.015, a park
owner shall notify the qualified tenant organization that an
agreement to purchase and sell has been reached and the terms of
the agreement, including the availability and terms of seller
financing, before closing a sale with any other person or entity.
If, within thirty days after the actual notice has been
received, the qualified tenant organization tenders to the park
owner an amount equal to two percent of the agreed purchase
price, refundable only according to this chapter, together with a
fully executed purchase and sale agreement at least as favorable
to the park owner as the original agreement, the mobile home park
owner must sell the mobile home park to the qualified tenant
organization. The tenant organization must then close the sale
on the same terms as outlined in the original agreement between
the park owner and the prospective purchaser. In the case of
seller financing, a mobile home park owner may decline to sell
the mobile home park to the qualified tenant organization if,
based on reasonable and objective evidence, to do so would
present a greater financial risk to the seller than would selling
on the same terms to the original offeror.
If the qualified tenant organization fails to perform under
the terms of the agreement the owner may proceed with the sale to
any other party at these terms. If the park owner thereafter
elects to accept an offer at a price lower than the price
specified in the notice, the homeowners will have an additional
ten days to meet the price and terms and conditions of this lower
offer by executing a contract. If the qualified tenant
organization fails to perform following two such opportunities,
the park owner shall be free for a period of twenty-four months
to execute a sale of the park to any other party.
A mobile home park owner who enters into a signed agreement
to sell or transfer the ownership of the mobile home park to a
relative or a legal entity composed of relatives or established
for the benefit of relatives of the mobile home park owner, who
signs an agreement stating the intention to maintain the property
as a mobile home park is exempted from the requirements of this
section and RCW 59.23.030.
[1993 c 66 § 5.]
NOTES:
Reviser's note: Chapter 59.23 RCW was declared invalid in Manufactured Housing Communities of Washington v. State, 142 Wash.2d 347 (2000).