Posted by Steve W (WA) on March 04, 2002 at 08:23:52:
(a) A lot of what you seek depends on your state/county/proximity to gov’t offices. As such, the opinion I give is not to be construed as advice, or recommended course of action. Simply my opinion.
(b) Have you read DOW? I realize that if not, it ain’t gonna help on this one, but it does give the basics that a quick review might help.
© What is the age of the home? Is it even worth $4K? I suppose that if it is worth that to you, then it is worth it. Somewhere on this board I read a good rule of thumb for what to pay:
(d) Try this. Get their VIN # and/or property tax account number. One should cross reference the other with the Treasurer and/or Assessor. Via DMV, see what shape the title is in - my state will only verify yes or no the names on the title - they will not read it to me, I have to tell them and they tell me if I’m right. Any liens? Any taxes owed?
(e) What about the park manager? Is this MH even in a park? You did not say. If on land, then it will be more involved, but that’s ok - that’s why God made FedEx.
Is there back rent due? Is the home in good shape? Can it stay in the park? Have you even seen the home? You didn’t say.
(f) If in a park, title is in fact clear, and you have seen/inspected the place and talked to the PM and everything is okey-dokey, then:
- Give them money for keys and signed title. Shake their hands; you’re done with them.
- Go see your Treasurer and pay sales/excise tax as required.
- Go to DMV with signed title and money to pay title transfer fee. You probably have a couple of weeks before this is necessary (check with DMV), so if you can get a buyer first, then just pay for a double title transfer when you would be changing title for them (You’ll have to give the Treasurer their cut again).
If you feel good about it, do it. If you do not, then do not - there are many deals coming your way, and you do not have to buy - they have to sell. Remember - at worst, you paid $4000 for some valuable lessons, that will enable you to profit more greatly in the future.
(g) Why didn’t you leave your phone number?