HTML Preview Retail Sales Flow Chart page number 1.
FLOW CHART FOR USED RETAIL HOME SALES
Used home must have seal or label attached.
In accordance with TEX. OCC. CODE § 1201.206(c), not later than the
60
th
day after each subsequent sale or transfer, the seller or transferor
shall provide to the Department a completed application for the issuance
of a new statement of ownership and location. The sale of a used
manufactured home should not be
p
ursued without
p
ro
p
er title.
Flow Chart for Used Retail Homes
Page 1 of 4
Before completing a credit application or more than 24 hours
before entering into a binding cash sale agreement:
Give TEX. OCC. CODE § 1201.162 Disclosure by Retailer and
Lender Notice (TDHCA Consumer Disclosure Statement
). This
notice includes the 3-Day Right of Rescission and the required
wind zone notice. Get consumer’s initials and signature on the
copy of the notice.
If the sale involves a manufactured home at a location other than
the retail location, provide contractually in the sales transaction
that the identified bond applies to the sale.
Consumer tours display. If given, estimates on
particular home should be in writing and must
comply with Federal Truth in Lending
requirements if finance options are shown. All
estimates must be labeled as “Non-Binding.”
(TMHA Purchase Memo
)
Consumer arrives Consumer arrives
Consumer tours display. If given, estimates on
particular home should be in writing and must
comply with Federal Truth in Lending
requirements if finance options are shown. All
estimates must be labeled as “Non-Binding.”
(TMHA Purchase Memo
)
Before completing a credit application or more than 24
hours before entering into a binding cash sale
agreement:
Give TEX. OCC. CODE § 1201.162 Disclosure by
Retailer and Lender Notice (TDHCA Consumer
Disclosure Statement). This notice includes the 3-Day
Right of Rescission and the required wind zone notice.
Get consumer’s initials and signature on the copy of the
notice.
If the sale involves a manufactured home at a location
other than the retail location, provide contractually in
the sales transaction that the identified bond applies to
the sale.
If Installment Sale If Cash Sale