Housing and Community Development (HCD) Practice Exam

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For disbursement of funds from escrow after installation of a manufactured home, what documentation is necessary?

Confirmation from the park management
A signed release from the buyer
Written confirmation from the dealer along with installation acceptance
An inspection report from local authorities

The correct answer is: Written confirmation from the dealer along with installation acceptance

The necessity for written confirmation from the dealer along with installation acceptance stems from the need for accountability and verification in the process of disbursing funds from escrow for a manufactured home. This documentation serves as a formal acknowledgment that the installation has been completed correctly and up to the required standards. Having a signed release from the buyer or confirmation from park management may be relevant but does not provide the necessary verification specific to the installation process. The inspection report from local authorities might also assist in validating compliance with local regulations, but it is not as direct as obtaining a confirmation from the dealer who is responsible for the installation. Thus, the combination of the dealer's written confirmation and the acceptance of the installation provides a more comprehensive assurance that funds can be safely disbursed, making this option the most appropriate one in this context.