Once again the FHA’s Legislative Action Committee is posting a multiple-choice quiz to test your knowledge about your rights as a floating homeowner.
This week’s question is:
You’re selling your home and you and the buyers have agreed on a price and conditions. The buyers need financing to complete the deal. Your marina offers the buyer a one-year lease. Can they get a ten-year (or longer) loan?
- Ask a banker.
- Ask a lawyer.
- What do you think?
Last Week’s Quiz:
You’re selling your floating home (Sorry; we’ll miss you). Can your marina raise the slip rent for the new owner?
Answer 3: No, at least for the time being. After 2029, who knows?