Posted by Dirk Roach on October 02, 2000 at 21:38:18:
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Help! … 1st Time Purchasing a Mobile Home! - Posted by Ron
Posted by Ron on October 02, 2000 at 17:18:02:
Just got a call from a lady that just wants to deed me a 1981 single wide. Claims there are no liens, no mortgage and no deferred maintenance. Only cost is moving the thing. The unit is in a m.h. park and the landlord wants it moved by 10/31. Says the rent is paid up until then. She also claims she’s having trouble finding the Deed, and the Deed may not be recorded.
I plan to take a look at the property tomorrow, get a sales contract signed if it still looks good, do a title search, and take title to it if everything is ok. I can then arrange to have it moved, lease-purchase it out, or I can just sell it out right.
I gotta confess, this is my first real deal, so I’m a bit unsure about the whole thing. Any words of wisdom or warning from anyone out there?
Re: Help! … 1st Time Purchasing a Mobile Home! - Posted by Dan (NC)
Posted by Dan (NC) on October 03, 2000 at 21:04:24:
If the title is lost, you may have to post a bond to do anything with the home. It probably depends where you are. Check into your state requirements before you commit to this one. Also, if you’ve never moved a home, I wouldn’t recommend it for your first deal. It can be a real challenge. And a real learning experience.