What is the main purpose of a disclosure statement when selling a manufactured home?

The main purpose of a disclosure statement when selling a manufactured home is to inform the buyer of known issues or defects. This document serves to ensure transparency in the transaction by outlining any problems with the home that the seller is aware of. By disclosing this information, the seller helps the buyer make an informed decision about the purchase, which is crucial in preventing potential disputes or dissatisfaction after the sale.

Even though summarizing the sale agreement, providing financial terms, or advertising home features may seem important in a sales context, these functions do not directly address the critical issue of buyer protection against unforeseen problems. The disclosure statement focuses specifically on the condition of the manufactured home, creating a more trustworthy environment in the transaction.