Here Is What NOT To Do When Closing On A Sarasota Mobile Home!

What You Don’t Want To Do When Closing On A Mobile Home!

Hey Everyone!

I hope you are having a great week so far and you’re staying safe out there!

We here at The Mobile Home Dealer continue to do our very best to deliver all of the most relevant information to you in the mobile home space and wanted to thank you for taking a few minutes to learn about what needs to happen for the sale of the mobile home to go through on leased land down here in the state of Florida.

Just this week, we ran into an issue that I feel needs to be addressed so that all of the folks watching this now or in the future understand what can not happen when closing on a mobile home.

Here’s a real quick story that happened just this week to illustrate this.

We have a listing for a mobile home on a lease land here in south Florida. Here, we have a written offer by an eager Buyer who wants to purchase the home from the Seller!

The Seller is unable to move out of the home due to being in a financial situation where they are very tight on funds. The Seller also feels like they need over six weeks to move out of their home. The Buyer wants to hurry up and move into the home because they are currently staying with family and want a place of their own. The Buyer has wanted to dictate when they will move into the home before they are park approved. The Seller wants to get paid in full prior to closing on the home so they have enough money to hire a moving company to go and move them out of the property.

You see what we have going on here?

If not, let me be a little bit more direct.

In order for us as licensed mobile home brokers in the state of Florida to sell the home we need to have the park approval on file for the Buyer.

If we were to skip this step and sell the home to a non-park approved Buyer and they move in and then later find out that they cannot live in the park for whatever reason then we have a real mess on our hands!

Traditionally at closing, this is when the keys are exchanged and all the funds, less the deposit on the home, are handed over.

Right away, we have an issue here.

With both the Buyer and the Seller putting their cart before their horse and with the Seller wanting to be paid in full before closing on the home and the Buyer wants to move in before cutting park approved we are moving fast in the wrong direction.

To iron things out, what we did with this sale was immediately stop it, and tell the Buyer they need to get approved by the park before we move any further.

This caught the Buyer off guard but we stressed to them that if they are not approved then we would not sell them the home, which would essentially kill the entire deal.

We told the Seller that they are unable to get paid in full before closing because the Buyer would then have no assurance that they will ever receive the home as the Seller has all the money but did not hand over the keys.

Once the Buyer was approved we got half of the sale price as a down payment, had the Seller in writing state that they would be out of the home at a particular date at which point we would close on the home and the Seller would receive the rest of their payment for the property.

I hope the takeaway for all of you that you have learned from this video is that an offer is just an offer until we have park approval and a closing date is when the keys are exchanged for the bulk of the money.

Attempting to sell a mobile home in any other way will cause more issues than it is worth, trust me!

This is Mark Kaiser with The Mobile Home Dealer and we help mobile home Buyers and Sellers get to a better place in life!
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