Hi all!!! Any suggestions on purchasing a manufactured home. I found 2 good deals, and not much renovation is required, but is the process a little more lengthy, since it's not real property?
Talk to your realtor in the area. In this area it is a money losing proposition since the owner does not own the land.
My mobile home flips have usually been down and quick. I paid cash for them and then rehabbed and owner financed them. It is hard to find lenders for MHs.
Interest rates were at a premium but was still a better deal for them than renting.
Any update on the two manufactured homes you found? Were you able to make the deal work? I am not sure if it is the same in every state but in most states it is a less lengthy process because it is not real property and generally just a bill of sale and title transfer like if buying/selling a car.
In Texas, we have some that are personal property. I usually try to buy mine on property and have it attached, then it becomes real property and it flows with property in the tax records and deeds. You do have to file for it to become attached.
@Ron Flatt If there is a property with one already on it how do you find out if it is already attached? If its not what process do you use to attach it?
@Mike Reynolds I check the tax office first, it will say whether it is personal or real property. I am out of state currently, but the tax office can give you the forms to mail back to state.
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