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 into 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 that 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 an 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 days 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 need to be taken in order to ensure the title has properly taken out of the Seller’s hands and into the Buyer’s hands. These steps, if not done correctly, may cause additional fines and penalties asses to either the Buyer or the Seller of the mobile home.
It can be wise for you, as a Seller, to go with the buyer to the DMV to make sure the ownership is transferred correctly so that taxes and liability are not in your name moving forward. Some buyers wait years to transfer title/ownership.
If for any reason a lien needs to be placed on the title, this will be done at the DMV while talking with the clerk that is helping you. The clerk will want to know the name of the lienholder and their address. The new title will be sent to the lienholder’s address. The lienholder will then transfer the title to you once they are paid in full.
Florida uses decal stickers placed on the exterior of the property to show the taxes are current for the year. The future owner will receive a tax bill in the mail yearly. Once this is paid you will be mailed back a decal sticker for the home’s exterior road-facing window.
For buyers, aim to transfer ownership through the DMV soon after you purchase the mobile home to avoid a penalty or complications when you eventually do transfer ownership/title
The safest and most surefire 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 which helps mobile home Buyers and Sellers get to a better place in life!