Is The Mobile Home You Are Buying In Sarasota Real Property?

Is A Sarasota Mobile Home Real Property
Video Transcription

Is a mobile home considered real or personal property in Sarasota County?

Statistics from the 1990 United States Census estimate that in 19 states, at least one home in every ten was mobile. Eighteen of those states are either in the south or the west and Florida has more mobile homes than any other state. Pennsylvania was the lone state representing the Northeast.

Whether it’s young people looking for an affordable starter home or older people looking for a cheap retirement home in the Sunshine State, at an average sales price of $83,400, mobile or manufactured homes provide the best option for those with limited funds.

When I was driving through dozens of mobile home parks throughout Sarasota, Florida, right after I started working in the industry, I was wondering the exact same thing.

I have learned that the answer to that question is easy.

They’re both!

Let me explain.

The difference between if a mobile home is real or personal property largely is based on how the property is taxed.

To determine this, you will need to know if the home you are looking to buy includes the land the property sits on, or if are you just buying the home and renting the land. If you are unsure, ask the park if the home you are interested in purchasing requires the payment of lot rent each month.

Lot rent is a monthly payment that needs to be paid by the homeowner to the park each and every month the home resides on that piece of property. This payment usually covers some utilities for the home, such as water and trash, as well as the amenities the park offers, such as the swimming pool and clubhouse. If the home does require a lot of rent payment, then no, it is not real property, but it is viewed as personal property.

If the home is classified as personal property, then it will be taxed in much the same way as a vehicle is taxed. Here, the home has a title attached to it and not a deed. The reason for this is that the home is just being bought, not the home and the property that the home sits on. It is important to note that if you are buying a double-wide mobile home, there will be two titles you will need to obtain, one for each side. If the home that is being purchased includes the land within the purchase, then the home is viewed as real property. This is the same way a traditional stick-and-brick home is taxed.

Where can a mobile home buyer in Sarasota purchase a mobile home that is considered real property?

sarasota mobile home
Sarasota Mobile Home

Real property mobile homes can come in one of two forms.

The first instance is purchasing a mobile home within a mobile home park that is referred to as a co-op community. Here the home buyer is buying the home and the land the home sits on within the mobile home park. In a co-op community, lot rent is not paid but a monthly HOA is usually required to be paid by all homeowners. This HOA payment will help cover the cost and upkeep of the park’s amenities and community areas.

The second instance is where you can buy a mobile home in a rural area that is on a larger piece of ground than what is sold in a mobile home park co-op. Most of the time these homes are purchased in rural areas of Sarasota County. It is important to gain clarity in the purchase to determine that you are purchasing both the home and the land the home sits on.

In either instance, property taxes will be assessed in much the same way as a traditional stick-and-brick home is

So if you are looking to purchase a mobile home in Sarasota County will you be buying a real or personal property?

The answer depends on whether the owner of the mobile home also owns the land and has permanently affixed the property to the land.

In these cases, the mobile homes will be assessed and taxed annually like a stick-built home and the information can be found on the county property appraiser and tax collector’s websites. In some states, like Florida, the owner is also required to purchase an RP (real property) decal.

If the mobile home owner doesn’t own the land, it’s considered personal property and an annual license tax is levied on the property by the Department of Vehicle Motors. There is also a required MH (mobile home) decal for Florida residents who meet this criterion.

Personal property is anything that can be moved while real property is anything that consists of land and immovable structures and objects on it. Tangible property is anything that can literally be touched. Both personal and real property are forms of tangible property.

When buying a mobile home in the Sarasota Florida area, it is always important to understand the difference between a mobile home on leased land and a mobile home sitting on the mobile home owner’s land. The former is considered personal property while the latter can be considered real estate property, therefore, both pay different taxes.

The Mobile Home Dealer are licensed mobile home brokers in Sarasota Florida and the surrounding areas. We provide professional buy and/or sell assistance to our clients. If you have any questions, please contact us by clicking this link. You may also visit our Facebook Page and send us a message.

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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