Housing and Community Development (HCD) Practice Exam

What action must be taken after the sale of a Mh-Unit or ComMod?

1. Withdraw any advertising for the sold Mh-Unit or ComMod within 48 hours

2. Open an escrow account for delivery and installation

3. Immediately withdraw any advertisements of the unit sold

4. All of the above are false

The correct answer is: Withdraw any advertising for the sold Mh-Unit or ComMod within 48 hours

After the sale of a manufactured housing unit (Mh-Unit) or a commercial modular (ComMod), it is important to take swift action regarding advertisements. According to regulations and best practices in housing and community development, any ads promoting the sale of a sold Mh-Unit or ComMod must be promptly withdrawn. This helps prevent any confusion for potential buyers who may still see the advertisement, ensuring that marketing efforts are accurate and up-to-date. Withdrawing advertising within a specific time frame—like 48 hours—aligns with maintaining legal and ethical standards in real estate transactions, ensuring transparency in the market. This is especially significant in densely populated areas or markets with high turnover rates where availability can change rapidly. The other actions mentioned may be relevant in different scenarios, but they do not directly relate to the immediate steps required after the sale of a unit. For example, opening an escrow account is not a standard requirement post-sale of a physical manufactured unit, as typically such accounts are established during the transaction process pre-sale. Therefore, focusing on the withdrawal of advertisements is the most directly applicable and important action to take after the completion of a sale.