Vacant Mobile Home w/liens on MY Land - Posted by darius

Real Estate Investing Real Estate Law
#1

Posted by Tony-VA on February 12, 2001 at 07:57:18:

Check with DMV. There should be a procedure by which you can obtain an “Abandonment Title”. Generally you will be required to provide the VIN# and proof that the home has been abandoned on your home for a certain number of days, (perhaps 60). You will likely be required to advertise in a newspaper to try and locate the owner and/or provide notification. After that, you should be able obtain the abandonment title. I am certain that you will have to ask around but someone should know the procedure. When talking to DMV clerks, I have learned to keep asking different people until I get the answer. Most clerks have little experience with the mobile homes so keep asking around.

As for fix up, I would be suprised if it would cost you $5k. Yes the roof will run you some money but if you do the interior repairs yourself or hire a handyman (get bids first) you should be able to put the home in excepetional condition for much less.

Good Luck,

Tony-VA

#2

Vacant Mobile Home w/liens on MY Land - Posted by darius

Posted by darius on February 11, 2001 at 21:52:26:

I own a piece of land purchased at the tax sale through the local county in CA in March 2000. On my land is an abandoned (5 years at least)double-wide manufactured home ON PIERS which is owned by deceased individuals
(a mother and then later her son). Talking to the neighbors there are heirs to them, but they walked away and never did anything with the title, which is through the DMV, and/or Dept. of Housing. There are 3 liens, but the amounts
are not visible in the report I received through the Dept of Housing. Its an older home built in the 70’s, so I expect the liens to be small. One is with the Dept. of Housing for back registration fees.
>
>One investor says just rent it out and eventually claim adverse possession.>That was one of my original thoughts. The problem is that it will require a new roof and a total fix-up about $4000 to $5000, into a home I don’t
>technically own. With the purchase and fix up, I will not break even until about 5 years renting it.
>
>Another possibility is to place my own lien on the property and buying out the
>1st or threatening the lien holder (or owner?) with back land
>lease costs of $500/month, and then repossess? As I was told by another investor,
>it’s not a foreclosure, but a repossession, but I’m not quite sure how to go
>about this?
>
>Another investor suggested giving it away by having someone just haul it off my land. But then I would need to place a brand new one in it’s place and the comps wouldn’t support it. Fixed up, I could definitely be able to make this old mobile home work if I knew how to and came out ahead on the notes. I have not contacted anyone yet.
>
> Any suggestions would be most appreciated.
>
>Thanks, Darius