Posted by Tony Colella on June 08, 2007 at 14:39:53:
Check the back of your book, its in there. You may also have state specific documentation (title vs UCC filing).
When you have gathered all of that info then tell the seller no deal unless you get a lien on the real estate.
Financing the home on someone else’s land is quite often the best gift you can give them.
If this is your first deal then don’t rely upon your memory from reading the book awhile back, read it now and then protect yourself by sticking to the manual. You need to know more about this deal then the buyer or you and your money will soon part in a manner you won’t necessarily like.