Mobile Home

[Polina Ra]

I just need someone to confirm the process because I'm learning and my thoughts are scattered.

I find a mobile home for low price "fixer" for sale by owner.

I put it under contract like a regular house to do due diligence? or is there something different

I perform due diligence, proforma, renovation cost estimate, moving cost etc. to show to HML

Loan approved, proceed with closing... (signing over title)

Loan not approved, release seller of obligation to sell to me? yes?

What do I have to take care of with the DMV?

Does anyone have an example of good contract to use?

Any other important details?

Thank youuuu! 

Any and all info helps!

I'm in Oregon if it makes any difference

[Bill Neves]

@Polina Ra

Hello

Search on this site in the manufactured home area for tons of help and tips.

Yes similar to a regular house, you can do all the steps mentioned.

Are you going to live in it, sell it for a higher price, rent or lease it out?

You mentioned 'moving cost'. I'd avoid moving one until you have done several and have some experience. Better to repair and sell on site. Easier and cheaper.

DMV - you need to go to county courthouse and pay the personal property taxes or make sure they're already paid. You will receive a receipt that they are current. Take that to DMV and transfer title to you.

A one page sales agreement or bill of sale is sufficient to buy or sell a mobile home.

NOTE: In Oregon you need a Dealer's License to buy and sell for profit. 

Good luck and have fun!