Buying And Selling Mobile Homes (Manufactured Homes)
by Arnab Dey Real Estate Published on: 09 August 2022 Last Updated on: 18 October 2024
Food, shelter, and reproduction are the three essential things for the survival of any living being. So everyone wants a proper shelter for his/herself, and a house provides that shelter.
Till the 1960s, people used to build homes traditionally. But after that, a new form of home construction came into the market, called mobile homes.
They are also called manufactured homes because they are manufactured off-site and then transported to the desired land. They are manufactured in such a way that they are very quickly feasible from one place to another. The land to which it is transferred may not be your place, and you can transfer it again to somewhere else.
But if you own the land and want your home to be permanent in one place, you can opt for a permanent foundation of your house at a specific place.
Buying and selling these mobile homes is different than a typical standard home. It is because these homes do not come with their land. The legal system for buying and selling these homes is different.
This article will thoroughly observe the whole system of selling and buying mobile homes and its implications.
Buying And Selling Mobile Homes:
You can buy a mobile home from a dealer and mobile house owner. There are different legal ways to buy homes from a dealer or its owner.
1. Dealer
While buying a mobile home from a dealer, you should consider a few things before signing the contract.
2. License
You should verify the dealer’s license before dealing because every state provides a license to the dealer for selling and buying mobile homes. If s/he does not have a license, step back from the dealing no matter how much beneficial it is.
3. Contract
The contract should specify a few things and describe these things so both dealers and buyers know the deal. It should clarify the price of the mobile home.
It also should state that in case of any inconvenience, the buyer would first come to the dealer; if the issue is not resolved, then s/he can go to the state agency. It should also be entitled to the contract and warranty.
If the buyer is not able to provide the dues within 30 days, the contract can be withdrawn.
4. Warranty
There is a warranty with every mobile home, and the warranty period varies. Some have a one-year warranty covering electricity, plumbing, heating, and cooling systems and some have less warranty.
5. Taxes and registration
The mobile homes must have paid all their taxes before the contract. The buyer is not entitled to give the taxes of the home that are due before the date of signing the contract.
Sometimes when the taxes are not paid, the state agency may cancel its registration, so before buying a mobile home, you should check whether the home is registered with the state housing agency or not.
Buying The Home From Its Owner
A person is considered the owner of the mobile house when s/he owns the land with it, or the home is entitled to their name. So when you buy a mobile home from them, you would need to take extra steps to ensure the proper transfer of their property to you.
1. Register with your name
The first thing to do is to transfer the home from the seller’s name to yours. But before doing this, you need to confirm that the seller has paid all the due taxes till the date of selling. After that, ensure that the property is transferred to your name instead of a third party or dealer.
2. Right to own the house completely.
You should mention the right to own the house thoroughly. Ensure that the home stays on the land permanently, but you should also have the right to move it wherever you want in the future.
3. Checking laws and ordinance
Just before you move your mobile house from one zone to another, check the laws and ordinances of the place because sometimes the number of maximum houses in a place exceeds, and you would not be able to build your home there.
Conclusion
More than six percent of people are living in mobile homes in the US alone. The market is overgrowing because of its portability and affordability. Try to invest in new mobile home park businesses. People are investing in this market and taking enormous gains from it.
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