I have been looking at a couple of these deals also. One thing you will want to check on is the possibility of “back” lot space rent due the mobile home park! One that I am looking at has three months back rent due! That adds nearly $1,000.00 more I would have to pay for the home!
Allison Van Dussen
I have a potential opportunity to buy a mobile home or two at tax sale. I am going to visit the parks, and talk to the PMs before making any kind of offer or going to the sale. I am assuming I’ll have to begin some kind of eviction or ejectment proceeding if I am the succesful buyer.
What other pitfalls and problems can anyone offer that I should be thinking about? These could be great deals, the taxes are very low and there are no encumbrances I can find so far on either property. There is very little likelihood of the owners paying their back taxes - one guy hasn’t paid since 1996.
Have you checked the tax-sale law for your state? In many states there is a “right of redemption” after the sale. The previous owner can come in and pay what you paid and get the property back. This happened to me with a (non-mobile) home in Texas.
State laws very greatly. The state law relating to tax sales for your state should be on the internet.