Posted by joe–ga on January 18, 2001 at 12:29:16:
I know there are differant laws in Ala. than over here in Ga. but I have bought and sold in Al.around Roanoke and I have never haerd of this law.I believe I would ask another broker.If you own something you can sell it anytime you have a willing buyer.
Manufactured homes with land - Posted by Bama
Posted by Bama on January 16, 2001 at 22:43:57:
I am in the manufacture housing industry. Right now is a great time to buy foreclosed homes with land. I can get them far below appraised value.
My problem is finding a mortgage broker that understands what I am wanting to do. I was told today by a broker that I had to sit on the homes for a year before selling them. She said she called her mortgage companies and was told this. She is basically a B, C, D broker.
Dealing with site built homes do you guys have any problems like this? If you know of any brokers that deal with manufacture homes and land and do business in Alabama your help would be greatly appreciated.
I would like to finally find a broker that knows what they are doing. There are many of them that don’t.
Sam
Re: Manufactured homes with land - Posted by Jeanne
Posted by Jeanne on January 17, 2001 at 10:27:51:
Dear Sam,
I don’t have the answer to your question, but we do have a forum on this site dedicated to mobile homes. The people there mostly focus on older, used mobile homes in parks, but maybe some one has some experience to share with you.
Use the yellow site index to navigate the site.
Jeanne
Re: Manufactured homes with land - Posted by Jack
Posted by Jack on January 17, 2001 at 01:55:57:
Hello Sam,
Do you have any contacts with manufactured housing dealers in north Texas? I’m thinking along the same line as you are. My guess is that the broker is under the impression that you have to season your mortgages for a year before you can re-sell your investments; however, my plan is to rent them. You however, could sell on a lease option deal for a year, then the seasoning process would be over.
As a sideline, we purchase raw land and develop it for people that want to build homes or put mobile homes on. However, I believe with the recession coming on that your idea is a good one. I’ve been contemplating it myself. I wish you luck on your end. —Jack
Re: Manufactured homes with land - Posted by bama
Posted by bama on January 17, 2001 at 19:48:14:
Jack,
Thanks for the input. The only problem is that I basically have enough cash lined up to purchase two properties. I can’t afford to sit on it for a year. I did some research and maybe the broker thought I was talking about “flipping”. Which, as best as I can tell, doesn’t appear to be illegal.
Sam
Joe’s right Sam… - Posted by Jack
Posted by Jack on January 18, 2001 at 20:41:26:
If you purchase the properties free and clear, no one can stop you from selling what you legally own. The broker has her wires crossed. At any rate, proceed on, you’re on the right track 
—Jack