If I buy a mobile home with cash?
home cash From Home Cash ad
If I buy a mobile home with cash and it is in a park how fast will the closing be?If Iam out right buying it with cash
I will be buying one on rented property
home cash From Home Cash ad
If I buy a mobile home with cash and it is in a park how fast will the closing be?If Iam out right buying it with cash
I will be buying one on rented property
For God’s sake, go through escrow on this purchase. The escrow officer acts like a disinterested stakesholder. They hold your money and the seller’s pink slip, and do a proper recordation and transfer of title.
DON’T just hand money over to some seller!!!!!
I cannot emphasize this enough!
If you’re just buying the mobile home, that doesn’t need to take more than a few days. Just have the present owner sign the title over to you when you pay for it.
If you’re also buying the land it’s on, it’ll take a little longer so the title company can update the paperwork.
If you’re just buying the home and not the land, it’s similar to transferring title on a car, so it’s very fast. If you’re buying the land also and it’s all cash deal, you’ll still have to go through escrow, which usually takes a couple of weeks at a minimum (clearing title, etc.).
If the seller has a clear title the sale will be quick. It is like buying a car. Make sure the seller offers you a clean title not a quick claim title. Remember "buyer beware" if you do not know the seller.
If the trailer is in a month to month park it should be a non-issue. If the park has an HOA there maybe some restrictions on selling the mobile home as well as the buyer.
Good luck
As soon as the seller signs the title over to you, it’s yours.
BUT, one caution. Before you do ANYTHING you need to check with the management of the community. Some homes are sold, but must be moved. Some homes can’t be sold because of non-paid back rent. Some homes can’t be sold until certain improvements have been made by the seller. Or, if you buy the home, some improvements must be made by you before you move in.