With the crazy prices in the real estate work we have begun to see the rising prices in the mobile home space as well.
It is not uncommon to see a large percentage increase in selling prices of all mobile homes located on leased land throughout the greater Sarasota Florida area.
With all this price excitement mixed with a high level of inflation it has lead many mobile home owners to begin the process of selling their mobile home.
But, before you grab the phone to give The Mobile Home Dealer a call, please understand the three most important steps needing to be followed when selling your Sarasota Florida mobile home.
Make Sure Your Home Is Free Of Liens
Liens are essentially loans that are put on your mobile home when it is located on leased land in the state of Florida. Liens can come in a variety of ways but, regardless of who or what entity has a lien on your mobile home it will need to be paid off in full prior to the title transfer from you to the new homes Buyer. The most common liens that are placed on mobile homes are when the Seller has failed to keep up with their lot rent and in turn there is an amount of lot rent that is owed to the mobile home park. If this lien is not paid in full at the time of closing then the new Buyer could be legally responsible for the lien which, as one can imagine, could lead to all types of problems!
Make Sure You Can Locate The Original Title
In Florida, mobile homes located on leased land are viewed as and taxed as personal property, not real property. What this means is that the ownership with a mobile home on leased land has a title associated to it and not a deed. Once the mobile home is sold the title will need to be transferred to the new Buyer of the home. If there is no title, or if you are unable to locate the title prior to closing then this could lead to additional delays with the processing of the mobile home title. In order to avoid this, make sure you can clearly locate where the title is and have the correct documentation filled out in order for it to be transferred prior to closing day.
Always Have Your Buyer Get Park Approved Prior To Closing
Most mobile home parks will require the Buyer of the mobile home to be approved by the park prior to becoming a resident. The process for which the approval is done can vary, but, generally speaking, having this on file prior to the closing will be a requirement of all parks. If this part of the closing process is avoided then you could be selling a mobile home to someone who can not legally reside in it which may cause a level of trouble you do not want to get involved in!
When looking to sell a mobile home on leased land located in the greater Sarasota Florida area always make sure that these three simple steps are followed all the way through so that you are able begin the closing process without additional headaches waiting to happen. Hurrying the process or simply avoiding these simple steps could very easily cause tremendous trouble for you the Seller, the Buyer and the park that your home is located within.
This is Mark Kaiser with The Mobile Home Dealer and we help mobile home Buyers and Sellers get to a better place in life.