NO Title for Mobile Home? - Posted by Sara

Real Estate Investing Mobile Homes & Mobile Home Parks
#1

Posted by Dr. Craig Whisler CA on March 30, 2002 at 14:44:12:

…anyway. Under the right circumstances the lack of title might not be a big problem. I guess I have acquired 30-40 this way, nearly all FREE, but don’t hesitate to pay a little if it is really worth it.

You can probaly develop a new title with a simple lein sale. Ask the governmental agency that regulates mobiles homes in your state, how to do this. Then e-mail me privately for a few additional tips.

Richard is right though, this guy isn’t motivated…YET. See my post below on this board titled something like “Let the 'gator have a leisurely meal”. Actually it was an answer to someone else’s post.

If I went for this deal (at $500 or less), I would just try to sell it as a pullout for about $1,500 more than I paid for it. It the numbers won’t work, you shouldn’t either. Its much easier to sell mobiles without titles if they are pull-outs destined for farms or ranches nearby. They are often reinstalled without permits etc., and used for worker housing or storage buildings.

I have written extensively about how to get free pull-outs and sell them right in the park for removal by your buyers. This can be very profitable, all cash, and QUICK. Sorry I don’t know where the posts are burried in the archives.

Don’t give up yet, but don’t do it unless and until you can make money on it.

On deals like this watch out for back space rent. If you plan to develop a new lein sale title and resell it Lonnie style in the park you also need to check to see if there are any back taxes owed on the mobile. This could be why it it being sold without a title. If it is a real slummobile check to see if the park manager will allow it to stay in the park.

Read Richard’s post several times. It is replete with great tips and advice.

Regards, doc

#2

NO Title for Mobile Home? - Posted by Sara

Posted by Sara on March 30, 2002 at 12:47:19:

I just looked at my very first mobile home today and the owner wants $2,000 and for now want budge one penny off that price. It will have to be moved and of course the central air conditioning,appliances,heat.etc may work and may not.He has NO title for this mobile home and he tells me that he has been assured that it is perfectly legal to sell the mobile home without a title??He said he got it from some one else and that he didn’t get a title?All you pro’s please give me your slant on this!It seems to me that the person that has the title could claim this mobile home??

Thanks
Sara

#3

Pass on this one - Posted by RichardWA

Posted by RichardWA on March 30, 2002 at 13:37:15:

Mobile homes with no title aren’t usually much of a problem. Just go to the department of motor vehicles saying the title was lost and they’ll issue you a new one. One thing to look out for is to make sure the mobile home really is titled in the seller’s name. Get the VIN. Mobile homes have VINs just like cars. Search the archives for where in the mobile home to look for the VIN. Then call up the DMV and run a trace on the owner. State records will tell you who the owner is. Call the DMV on just what the procedure is to have a new title issued and what the costs are–it varies from state to state.

Having said all that, I’d pass on this MH for an entirely different reason: the owner is NOT a motivated seller. People like your guy are a pain in the neck to deal with and aren’t worth it–wants what he wants and isn’t interested in lifting a finger to help you get his mh. Not worth it. These people often create and cause problems you don’t need to deal with. You want the sellers who will WORK HARD to make it easy for you to buy from them. Here in the expensive western Washington market I often see advertised in the papers mobiles offered for free if you move it. Moving isn’t recommended for beginners due to the complexity and risk of damage/liability issues. And moving costs $$$–which is why these MHs are offered for $500 or free in the first place. The low price is necessary to compensate for high moving costs.

I’d only pay $2000 for a MH if it can stay where it is. It might be possible to negotiate with the park manager to have it stay where is–but here, it looks like the seller is a bigger problem than the park manager.

I’d pass. Unless it were like, a 1990’s model worth $20,000+ or something like that. Which doesn’t sound like the case here.

Keep looking! :slight_smile:

–RichardWA

#4

Re: Pass on this one - Posted by Sara

Posted by Sara on March 30, 2002 at 20:51:45:

Actually this mobile home is a older model and doesn’t look so great on the outside but fairly decent on the inside but needs new linoleum for the kitchen and a ceiling repair in the living room.This is not in a mobile home park and the owner has built a very nice new home and just does not want it on his lot and I can understand that.It is also way out in the "boonies"and doubt that anyone could ever find it.So if a person can sell a mobile home with just a bill of sale, then is there any legal or otherwise reason if I ever did find one at a bargain and sold and financed, that I could just use a bill of sale,promissory note and NOT sign over the title at all until it is paid off??Sure sounds simpler to me and would make it so much easier if the buyer defaults on the payments and I would still have the title.You guys are just fantastic and SOOOOOOOOO helpful!!

Sara