How much closing cost can you expect for a seller financed, 10-unit mobile home park? (Legal fees, inspections of all sorts, lender fees, other closing costs?)
Well if the seller is financing, I don't think they would charge much regarding lender fees, they might want to run your credit and charge a small fee for that. Inspections of all 10 mobile homes? Honestly you might want to have a good MH inspector just give you a bulk rate, figure $1000 or maybe more for that. Legal fees relating to the note? Probably $500-1000 for that, find a good local lawyer that knows about notes.
Best wild guesses here on my part. Hope it helps a little.
For seller financing a typical setup would look like this: 20% down, 5% interest, 5 year term (balloons after 5 years), 25 year am, etc. you won’t need an appraisal. You will still need a Phase 1 and a survey though.
@Jingwen Dunford Check with your title company regarding any fees before you close. They should be able to give you a ballpark figure on your side of the closing costs as well as the seller's side. Hope that helps!