Terry or JP, Are you from MI? - Posted by Rick-MI

Real Estate Investing
#1

Posted by Rick-MI on April 03, 2000 at 20:06:25:

Blane,

I am up near Traverse City. I bought it from Pine Grove Homes in TC. It is in a park and does not have to be moved.

I do not have a dealer license, and am not sure what the requirements are for getting one.

In regards to the question about insurance, I am going to require that I am the insured party.

Thanks for the response.

Rick-MI

#2

Terry or JP, Are you from MI? - Posted by Rick-MI

Posted by Rick-MI on April 03, 2000 at 08:41:08:

Hi,

I thought I read here sometime ago that you are from Michigan. The reason I ask is that I am selling a MH that I bought from a Dealer(trade-in) and am going to create a note. When I sell it do I have to charge sales tax to the new buyer, and what about transfering title? Do I transfer it now and list myself as a lienholder?

I found a Buyer Sat., pending PM approval and would appreciate a fast reply since I hope to close it by Wednesday.

Thanks for your help!

I have learned a great deal on this site and have received a HUGE amount of courage from all of you!

Rick-MI

#3

I am - Posted by Blane (MI)

Posted by Blane (MI) on April 03, 2000 at 11:19:49:

Hi Rick,

Where you at, and what dealer did you buy the MH from? Was it at a lot, or still in a park?

Do you have a dealer license yet? If not, you’ll have to collect the sales tax from the buyer. I am in the exact same situation as you right now, so I don’t claim to know all the answers. I was advised to go to the Secretary of State office with the buyer to transfer title; at that point you will pay the sales tax to the state. You do list yourself as a lienholder. Also, is your buyer getting insurance on the home, with you as the insured party?

Others will correct me if I’m not totally accurate. Good luck with your deal, and feel free to email privately anytime.

Blane

#4

Re: Terry or JP, Are you from MI? - Posted by J.P. Vaughan

Posted by J.P. Vaughan on April 03, 2000 at 11:13:11:

Rick,

I am originally from MI, but I don’t know a thing about
MHs in MI or the laws regarding same. I’ve been in CA
for over 11 years…way before I did my first MH deal.