Posted by terryr on February 13, 2002 at 23:42:59:
we transfer title and then hold it in our name - the contract establishes their ‘partial’ ownership - when contract is paid then we do a straight transfer to them - and yes it does take that long to get it back
mobile home title transfer in Illinois - Posted by Steve Crawford
Posted by Steve Crawford on February 12, 2002 at 23:38:38:
I called the a local DMV office regarding title transfer of mobile homes. I asked her what what fees are involved when one purchases a mobile home and wants to transfer title to the new owner. She said I needed:
I then asked her how soon the new owner or lien holder can get the title? She told me 10 to 12 weeks.
Huh!?!? Ten to twelve weeks!?!? I asked her why so long? She said they are that far behind in Springfield.
What!?!? I then asked her so far behind doing what? What are they doing? If I was allowed to, I could print out a new title myself in a matter of seconds.
That was the end of the conversation.
There is a real possibility I will buy my first mobile tomorrow or Thursday. I also have a buyer interested in buying this mobile home, at a very nice profit for me.
My question is what are some potential problems when I buy a mobile home, send away for a title transfer, 12 weeks later get the title? While I am waiting on the title, I sell the mobile home. Now I have to wait for the title to come to me, then transfer it again to the new buyer, another 12 weeks. Theoretically it could be almost six months after I sell the mobile home to get the title in the new owners name, and me listed as the lien holder.
I am trying to be decent and do the right thing by not skipping title. Man oh man, they make it kind of hard.
Steve