Housing and Community Development (HCD) Practice Exam

What should a licensee do if a Mh-Unit or ComMod is sold?

1. Withdraw all advertising within 24 hours

2. Keep advertising until the new owner registers

3. Report the sale to the state directory

4. Maintain advertisement for public viewing

The correct answer is: Withdraw all advertising within 24 hours

When a manufactured housing unit (Mh-Unit) or commercial modular (ComMod) is sold, it is important for the licensee to promptly withdraw all advertising within 24 hours. This action is essential because it ensures that no misleading information is presented to potential buyers about the availability of the unit. Once the sale is finalized, the property is no longer available for sale, and continuing to advertise it could create confusion or mislead individuals who may believe they can still inquire or negotiate a purchase. Another critical aspect of this requirement is that maintaining advertisements could potentially violate regulations set forth by housing authorities or real estate boards, which typically emphasize the importance of accurate and current listings. By adhering to the protocol of removing listings promptly, the licensee not only complies with these regulations but also promotes professionalism in the real estate community. The incorrect options include maintaining advertising until the new owner registers, which would delay the removal of information that is no longer accurate. Reporting the sale to a state directory is important but may not cover the immediate need to stop advertising. Lastly, maintaining advertisements for public viewing would conflict with the obligation to provide honest and current information regarding the property's availability. These considerations strengthen the rationale for withdrawing all advertising without delay.