Settlement Sheet or Bill of Sale?

mobile home university
1

I’ve recently brought 2 new mobiles into my park and have a regular real estate agent selling them. We are in the beginning stages of the process and she wants to know who will create a “settlement sheet”. In the past, I’ve sold used mobiles in the park with just a Bill of Sale. A settlement sheet through a title company will cost $250.

The mobiles are new, on my lots which are leased to tenants, and the buyer will most likely find their own conventional lending. Is a settlement sheet necessary, or will a Bill of Sale suffice?

2

I have only used HUD-1’s with real property. For mobile homes a bill of sale + application for title is sufficient (assuming title is in the seller’s name). When there is a lien on the home then a release of lien from the lender is required. But that’s it for the typical transaction.

There are fees for filing these forms so maybe they just want some comfort on the all inclusive cost, but that can be covered in the bill of sale.

3

I agree Bill of sale and sign the title to new owner (after paid in full) This is personal property - wheel estate.
not real estate.

4

Thanks for the replies. I’m finding these realtors loath to do anything outside their usual M.O.

5

Settlement sheets are just nice ways to do accounting. They aren’t filed as public record to help with titles.

A good Contract/ Bill of Sale along with transfer of the actual title would be my suggestion.

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