Total cost to close

3 Replies

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. 

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