Hi guys,
I’m underwriting a park that has a lot of POH. seller said 4 POH doesn’t have title due to it’s almost over 30 years of age. What do you guys do about that? Is there anyway to get a new title? Could someone share the experiece?
Thanks
The process is different state-by-state. What state are the homes in?
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They are in NC. they are much older homes…
I suggest you ask the seller to figure out the title situation.
If they can’t then you need to figure out if there are any back taxes/registration fees have the seller pay them and hold back $1,000 per home for the brain damage of doing the transfers yourself.
Most state have some type of lien sale process you will need to go through.
AW
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Pleaaaase do not do anything ever with a “quick deed” also known as the Quit Claim
Deed in real estate unless you absolutely have no other options.
In Texas I have purchased a mobile home on bill of sale with: a title application from the seller, had to send a certified mail to prior owner (was returned undeliverable), affidavit of fact the steps I took to identify the owner and contact them, release liens with a bank from 20 years ago that was acquired twice, pay prior taxes with the county, and the fees associated with the application.
It takes time but it’s really not hard. There are services out there too that can do this for a fee if you don’t have the time or inclination.
Good luck!
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Hey @jackyen2000, we’re also in NC! We’re over in the Charlotte area!
Save yourself some time and just have the seller sign a bill of sale for them. The odds of anybody coming after you over a 30 year old mobile home worth a couple thousand bucks are astronomically small. Just have the bill of sale mention “The Seller warrants that the seller is the true and lawful owner of the Vehicle, and that the Vehicle is free of any and all legal claims, encumbrances, and offsets by others. Further, the Seller warrants that the Seller will defend Buyer against any and all lawful claims and demands whatsoever in relation to this bill of sale.” This isn’t legal advice. But it is practical. You can go through the process to get a title if you really want to but I can promise you it’ll be more headache than it’s really worth. The worst case scenario here is that somebody comes along and says the home is theirs so you let them have it and charge them lot rent!
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