Congratulations, your Sarasota Florida mobile home has been sold!
You have hung in there throughout the entire listing process, have negotiated the sale of your home, located at Buyer who has been park approved and you are ready to move forward with moving out of your mobile home and into your new home!
But, before you move forward too fast you first need to get your Sarasota mobile home out of your name and in to the new Buyers name.
If you don’t do this then you, as the Seller, will still be responsible for paying the yearly registration of your mobile home to the Department of Motor Vehicles. Not only this, but the Buyer will not be able to pay their taxes from the purchase of the home to the Department of Revenue nor will they be able to get mobile the home insured should they decide to add an insurance policy to their new mobile home!
In Florida, when you are buying or selling a mobile home on leased land then it is referred to as personal property and not real estate. The reason for this is because when the home is sold with the property attached to it is then deemed as real estate, when the property is leased by the owner of the home then it is viewed as and taxed as a vehicle in the state of Florida.
With this understood then when selling a mobile home on leased land the Seller and Buyer will need to fill out and complete a 82040 Form with the DMV, which is more commonly known as a Change Of Title Application.
This form will allow the Seller and Buyer to sign off on the fact that the home was sold by the Seller and purchased by the Buyer for a disclosed amount of money and that this amount of money that the mobile home was sold for has had tax collected on it. This tax will then be reported to the Department of Revenue and the Buyer will be expected to pay this amount of money to the DOR within 30 day of the sale. Failure to pay these taxes may result in additional fines and penalties assessed to the Buyer.
It is important to note that the 82040 form will need to be filled out for each side of the mobile home that is being sold. Meaning, if the home is a double wide mobile home within the state of Florida then two of these forms will need to be filled out, one for side A and one for side B. If the Buyer does not fill out one 82040 form for each side then the DMV may reject the transfer of title application due to both forms not being filled out correctly.
When looking at selling your Sarasota mobile home make sure you also have your physical title at the closing and have the ability to sign these titles over to the new Buyer of your home. If the Buyer does not have the signed titles on hand then they will not be able to complete the 82040 form as much of the information that is needed on this form is found on the front page of the title paperwork.
When selling or buying a Sarasota Florida mobile home there are several steps needing to be taken in order to ensure the title has properly taken out of the Sellers hands and into the Buyers hands. These steps, if not done correctly, may cause additional fines and penalties asses to either the Buyer and or the Seller of the mobile home.
The safest and most sure fire way to sell a mobile home on leased land is to hire a licensed mobile home broker, such as The Mobile Home Dealer, to help you with this transaction. By having a trained professional helping guide you throughout the process then you as the Seller and the Buyer know that things are being done right throughout the entire process allowing for the sales process to be more streamlined and far less stressful!
This is Mark Kaiser with The Mobile Home Dealer and help mobile home Buyers and Sellers get to a better place in life!