Michigan Manufactured Housing Retailer Bond Guide
If you are applying for a license to sell manufactured homes in Michigan, you'll need to purchase a surety bond. Read on to learn all about the bonding process in this guide.
Bond Overview
- Purpose: To protect purchasers, sellers and the state if a retailer causes monetary loss
- Who Needs It: All retailers selling manufactured housing in Michigan
- Regulating Body: The Michigan Department of Licensing and Regulatory Affairs, Building Division
- Required Amount: $10,000
- Premium Rate: Credit-based, typically $100–$300
How much will my manufactured house surety bond cost in Michigan?
Michigan manufactured housing retailers need a $10,000 bond. Your premium rate will depend on your personal credit report. With strong credit, you could pay as little as $100–$300 for your bond.
Fill out our quick request form to get a personalized quote.
Why do I need this bond?
Michigan uniform manufactured housing retailer’s bonds ensure that retailers reimburse any purchaser, seller, or the state for any monetary loss resulting from a retailer’s proven fraud, cheating, or misrepresentation.
Additionally, the retailer is responsible for reimbursing the state for any sales tax deficiency as provided in 1933 PA 167, MCL 205.51 to 205.78 or use tax deficiency as provided in 1937 PA 94, MCL 205.91 to 205.11 for the year in which the bond was in force.
What’s the fine print?
Michigan uniform manufactured housing retailer’s bonds are continuous until canceled, and the surety must provide 30 days’ notice in writing to the Building Division before cancellation.
The retailer’s correct business address must appear on the bond form. In the case of an individual or partnership, the individual’s name(s) should be on the bond followed by “d/b/a” and the business name. A corporation should be listed with the corporate name followed by “d/b/a” and the assumed name, if applicable. A limited liability company should be listed with the LLC name followed by “d/b/a” and the assumed name, if applicable.
