Wendell Verduin wanted to sell his manufactured home community to the residents who lived there. He felt it was the right thing to do.
But that community, Evergreen Estates in Centralia, Wash., was an investment, and his business planning was based on a good sale price. Verduin had bought and sold eight communities over close to 40 years in the industry and owned the 55-home Evergreen Estates for about 30.
Enter ROC USA®, with a proven track record of effective and efficient market-rate transactions coupled with specialized financing that makes selling to the residents the ideal exit strategy.
“We had several offers from other investors, and good offers,” Verduin said. “The price was right there with the other offers that we had. There’s no question we had a fair price.”
ROC USA and our Washington affiliate, ROC Northwest, coached the homeowners of Evergreen Estates through the purchase process and will provide ongoing technical assistance for years to come. Homeowners were eager to purchase their neighborhood and become landowners.
“I was very grateful that the owners wanted to sell to the residents,” said Sherry Frost, Board Treasurer of the new Evergreen Estates Homeowners Cooperative. “We are right in the middle of a medical complex here and had they sold to one of the medical facilities, we would all have had to move.”
Verduin, who praised the work of ROC Northwest and ROC USA, said any community owner looking to exit should take a serious look at selling to the residents with the help of ROC USA, whose services are paid for by the buyers in every transaction.
“These are the folks that have made that business work, they’re your customer,” he said of giving residents a chance to purchase. “I do not believe that an owner … would have to expect at all that they’re going to take anything less than market price for what they sell.”
If you have a community you’d like to sell, or even if you’re just starting to create an exit strategy, reach out to ROC USA for a confidential conversation.