What is a Manufactured Housing Broker or Retailer Bond?
The Texas Department of Housing and Community Affairs (TDHCA) regulates the manufactured housing profession in the state.
TDHCA requires all manufactured housing brokers and retailers to receive sufficient bonding. Obtaining a license to sell manufactured homes or participate in the market as a broker between buyers and sellers remains contingent on this bond.
Bonds also help protect your clients and can act as a powerful marketing boost, given the dependability they signal to your clients.
How Do Manufactured Housing Broker or Retailer Bonds Work?
TDHCA requires brokers and retailers to go through the bonding process to ensure that any violations of ethics or regulations will result in compensation for the affected party.
Both brokers and retailers must obtain a $50,000 bond.
In this case, the obligee would receive payment for successful claims against the bond. The surety company would then satisfy this payment and pursue the principal for repayment.
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