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Have your Vin or serial number ready when you call up the TDHCA at the phone number above. As always, if you have any follow-up mobile home related questions never hesitate to reach out anytime. I am curious if your mobile home is registered anywhere on the TDHCA website? You mentioned that you recently were sent a Texas certificate of ownership however I wonder who exactly this is from if the mobile home has been there for some time.
Additionally, thank you for your detailed message is the certainly does help me give you some insights moving forward. I very much regret to hear about you losing your son. Congratulations to your granddaughter for graduating with honors and great job putting her in a much better school system. It absolutely sounds like the mobile home park you are dealing with is not being fair, reasonable, or rational with regards to you and your situation.
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What kind of documents would I need to use with this $200,000. The easiest answer is by knowing how to find, offer, buy, sell, hold MHs so that you can make a business out of this industry helping local sellers and buyers. However, this is the very short answer, there are many small steps between where you are and complete clarity.
We have not had a lease with them for 3 years now, we only pay the lot rent for our mobile home. I purchased a ‘manufactured modular’ home. Which is attached to a concrete slab basement in July of 2012 — the seller had an open mortgage and a few liens outstanding, which were disclosed to us at settlement. We did purchase title insurance and closed on the property. Would signing month to month make it easier / harder to sell?
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Glad to hear the home is fairly new and also a double wide. I have a question about an older mobile home that has had the tongue removed. I want to sell it but I’m concerned about how it will be moved. Hi John, Now that Zillow has stopped accepting mobile home ads on rented land, do you have a similar source for advertising?
When applying for a mobile home loan the buyer will have to be approved by the bank as well as the mobile home itself. Depending on the age and size of your home and foundation of the property will all determine how easily it is to be bank financed. Your next step is to contact a local lender or credit union your buyer prefers, if they have one that they prefer. Definitely do not beat around the bush when helping the seller arranged this loan. Be in contact with the broker as well in case they have questions about the home or need anything else done to expedite the loan process.
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You mentioned that there was a “bill of sale” exchanged between the seller and buyer. If the buyers did not submit this SOL application then they may not technically be the new owners of the home yet. With that said the money has changed hands and if they go in front of any judge I am fairly confident that he will side the purchasers.
However this is highly unlikely if the mobile home that currently sits on the land is in decent condition. For this reason I would encourage you to list the property as a mobile home in the MLS. With that said, definitely make sure to advertise this property online and off-line as much as possible. Advertise it in the newspaper as well as the flyer locally. I hope this helps and point you in the right direction.
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The biggest question is if nearby comparable homes are selling for the same amount with cash or bank financing? The reason I ask this is because $65,000 for a 2004 mobile home is certainly not out of the question in some areas of the country. You obviously purchase this home and thought it was a good value, so others will likely think this is well. The question is what volume of cash buyers or bank approved buyers are out there and actively looking? Additionally, depending on your area the market may slow down during the winter months coming up.
For example, the client who inherited a property, but lives out of state often does not have the resources to sell an inherited property through traditional avenues. Often these people just need a quick closing without the headache of trying to prepare a property and get it sold when they are states away. The next step or one that is done simultaneously when trying to get your home’s value is to hire a real estate agent. In reality, you may call up three different real estate agents to provide a home valuation and interview them to decide on the real estate agent you want to sell your inherited property. The buyer and seller meet and sign the paperwork on the agreed-upon day. The buyer signs the lender’s mortgage deed and the final purchase contract.
If a party doesn’t have the funds to buy out other parties, then a suit of partition may need to be filed to force the sale of the property. This is usually a last option as it can easily cost ten to twenty thousand dollars. Next, let’s move onto specific circumstances for how a house is inherited. Or worse, is when you inherit a home with a reverse mortgage and the mortgage is not paid upon death under the due on death clause. This can cause the home to go into foreclosure and be auctioned off.
I did not know who was who so I did my own inspection to protect myself. My house already pass inspection and there are no major repairs. There are only very small things that I can agree with buyers.
Some mobile home owners may be able to swing this. The second point in how to sell a mobile home with a mortgage is simply that of selling at a price that covers what you owe on the mortgage. With a little bit of financial discipline, you may be able to increase your mortgage payments and pay it off early. Simply adding $50 to $100 extra to your monthly mortgage payment can slice several years of debt off your mortgage, and even $20 a month can get you there sooner than you might expect. In either scenario, don’t underestimate the power of an optimized manufactured home listing with great photos and complete information. You can work at your own pace and someone is always there to answer your questions — 24 hours a day, 7 days a week.
I very much regret to hear about the headaches this landowner is putting you and your mother-in-law through. With that said the landowner is certainly the one that can place a lien on your mobile home and repossess it if desired. Perhaps this land/park owner will allow the monthly payments to accrue for a few months so that when you sell it come tax time you will be able to pay off the back amount due lust late fees. Almost anything is better than $200 from the park and I would encourage you to get as much as possible. With that said the park may purposefully deny people who are looking to purchase your property if they really want to try to keep it for themselves.
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The only thing that they will not get is a clear title since that will be coming to you later. The buyer will pay off the lien however anything over the $33,000 owed to you will not be paid until the clear title is delivered to them. I hope this helps some and all make sense. If you have any follow-up questions or concerns never hesitate to reach out any time.
With that said I would highly encourage you to stop by a number of local mobile home communities to get references of mobile home movers and transport companies they have used in the past. To answer your first question, yes you should have an agreement in place. A promissory note with a lien on the mobile home will be a great start.
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