Home sale down payment bond cost
Mobile manufactured home dealers in Colorado must post a $50,000 surety bond to legally work in the state. These bonds are subject to underwriting, which means the amount an applicant will pay is based on a review of his or her credit report. Don’t worry if you have less-than-stellar credit! Surety Bonds can help you get the bond you need quickly, easily and accurately.
Why this bond
By posting a Colorado manufactured home dealer surety bond, principals (mobile home dealers) agree to comply with all provisions of 24-32-3324(2) of the Colorado Revised Statutes. Specifically, this bond ensures that the principal:
- Refunds home sale down payments received in accordance with the terms of the respective manufactured home sale down payment agreement pursuant to which such down payments were taken
- Does not engage in any conduct described in 24-32-3326 of the Colorado Revised Statutes pertaining to the refund of such home sale down payments
- Makes payment of reasonable per diem living expenses
Mobile home dealer bond details
Colorado home sale down payment surety bonds remain valid for 1 year from the effective date. This bond may be continued year to year if the surety issues a continuation certificate that is delivered to the Division of Housing of the State of Colorado .
All continuations will be cumulative and have the legal effect of a new and separate obligation issued for the period covered by the continuation certificate. Each continuation certificate must be on the form approved by the Attorney General.
Become a manufactured home retailer
Manufactured home retailers must register with the Housing Standards and Technology Section (HTS) and post a $50,000 surety bond to become registered with the state. The Manufactured Housing Dealer Registration is designed to protect consumers through protection of their down payment.
Apply for your surety bond
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