buying land… free mobile home? - Posted by marvin
Posted by marvin on April 11, 2006 at 02:57:44:
I’m about to purchase a forclosed land\lot. Since the lot was heavily overgrown, I was only able to do a partial viewing on my first visit. BTW, the lot size is 5.4acres.
When it was time for me to meet with the surveyor, he walked me through all the markers and lo-and-behold!!! the land comes with the following surprises: 1 trailer home (almost new condition), 1 trailer home that’s ready to fall apart, 2 “junk” travel trailers, 1 wooden igloo (yes, looks like an igloo but made out of wood), 2 locked storage units, 1 “junk” convertible car, and 1 “junk” speedboat.
- When I close on the land, does that mean I own
everything in/on it?
I am more intrigued with the new trailer since it is almost as expensive as the land. I know that it might be owned by another bank but is there an “adverse possession” rule that could cover that? The property has been forclosed for three to four years now, could that be a sign of abandonment? Do mobile homes come with a serial number that can be traced back to it’s previous owner? How can I determine the present value of the mobile home? Is there a common spot where I can find the year model and manufacturer’s name?