Posted by Mainer2 on April 13, 2006 at 09:25:53:
I just read JM’s reply, and now I’m scared. I recently bought a MH from a crooked agent, and I told him I needed to find a lawyer to do a title search. And he told me that this was never done, and not necessary with mobile homes.
I have a bill of sale, and an ersatz “Purchase and Sale” agreement. And I pay taxes.
Should I be worried??
Mainer2
land… with free trailer? - Posted by marvin
Posted by marvin on April 11, 2006 at 16:23:29:
Hi,
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.
My question:
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?
Re: land… with free trailer? - Posted by John Merchant
Posted by John Merchant on April 11, 2006 at 19:44:41:
You can find the serial number on the MH, then check with vehicle licensing to see if they have it registered as “personalty” in your state…and they’ll also know if there’s any lien or debt against that MH.
Or their records will show that the MH title has been surrendered in which case its title “merged” with the land it’s on and is now part and parcel of the RE.
You will want a warranty deed from the Seller specifically stating that all personal property on the RE definitely comes with it and has no debt (if that’s the case), or whatever he’s promising…just get it in writing.