Subject To's And Mobile Homes

Comments(12)

• 
  jorge1217th September, 2003

  its not provided u are buying mobilehomes affixed to land (otherwise its personal property).
  
  J

• 
  Beachboy7th September, 2003

  Yes the mobile homes are attached to land.

• 
  jorge1219th September, 2003

  i meant its no different than stix and mortar. use u can take title subject to the existing mortgage(s).
  
  J

• 
  Beachboy9th September, 2003

  I thought mobile homes have titles like a car and are held by the finance company until the loan is paid off. My question is what kind of paperwork is needed to take title subject to?
  
  Thanks,
  
  Beachboy

• 
  rajwarrior14th September, 2003

  You'll have to view each deal on it's own. If the mobile home is permamently attached to the land (ie brick, block, cement, etc), in most cases, that property is deeded little a stick-built house. These would be easy to take Sub2 because they have a deed (careful though, it's still a mobile and they still DECLINE in value).
  
  
  Roger

• 
  Fredbattle21st September, 2003

  So, are you saying not to purchase mobile homes subject 2, if they are not on their own land? It is extremely hard to find any finance company to finance a used mobile home. So it looks like they would be ideal for sub 2. I have just been offered two used mobile homes but can't get the financing other than a sub 2. Should I pass on them?

• 
  DaveREI21st September, 2003

  The Mobile Home has to be on a slab/foundation to be included as the real property!
  
  If its just "set-up" on owned land that will not work.... whells pulled,axles off, hitch pulled...dropped on foundation....
  
  Then its real property...then the sub 2 is the same as the rest!

• 
  Rickygib14th October, 2003

  So, is there anyway to help a seller and make a couple of bucks, who has a MH that that has been vacant since May? Very motivated, willing to pay expenses to have it moved. Realizes the value has depreciated and is willing to make up the difference. 2001 16x80, sitting on a rented lot. Very concerned about her credit rating. She is living in Alexandria, LA and her MH is sitting in Baton Rouge, LA. I'd be willing to help her out even if I couldn't make a dollar.
  
  Any advise would be greatly appreciated.

• 
  rogner14th October, 2003

  Hi Ricky and Fred:
  
  I may be able to help with the financing but need more details on the deals. Please contact me at **Please See My Profile** and give me a way to contact you.
  
  Successfully Yours,
  
  Christian Rogner

• 
  Roswitha19th October, 2003

  I deal with mobile homes all the time.
  If the weels and axels are of ,it is considered real property here in Florida.
  If you need any help ( Beachboy) E-mail me.
  I am right next door to you.
  
  RK

• 
  roberttissy2nd November, 2003

  HEY GUYS
  IM NOT SURE BUT I THINK YOU CAN HAVE A MOBE ON LAND, OWNED BY U AND STILL NOT BE R-P'D. MOBILE HOMES ARE TITLED LIKE CARS AND YOU NEED TO BUY TAGS EACH YEAR .UNLESS U DECIDE TO R-P IT THEN U PAY FOR IT IN PROPERTY TAXES
  NEED TO CHECK ON THIS BEFORE YOU BUY, OR MOVE , OR ANYTHING.BUT MOST MOBES ARE TAGED IN PARKS AND R-P'D ON LAND
  ROBERT

• 
  loanwizard2nd November, 2003

  What are the numbers? If the MH is titled and the lienholder is listed on the title, you would be in a legal disadvantage to take over the payments w/o talking to that MH. If the title has been converted to a deed and it is real property, you have a better position and can take subject to. There is a great deal of $$ to be made in MH's you just need to tweak your thinking. What is the balance owed? How much could you sell it for? How much are the payments, rate, term remaining? What would rents in the area be? Are you in a position where you could hold long term and sell via L/O or Land contract? Is the deal financially attractive?
  
  Good Luck,
  Shawn(OH)