In early negotiations of a purchase of 16 unit park. A long time owner has no titles to 14 poh, 3 of 14 needs to be torn down and hauled away. What’s the best process in buying with no titles ?
I want a $1,000 discount for any home without a title.
I just spent 12 months trying to transfer 2 NEW homes to my name. The Seller never registered them and I had to jump through hoops to get everything the State wanted to complete the sale/new registration.
They lost the Original MCOs from the dealer and I had to get new certified original copies from the manufacturer. What a PAIN that was.
I should have asked for more $$ but they were free.
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I would ask for even more than the $1000 mentioned above, but definitely some sort of discount. They are worth less. Think of it like buying a car with no title.
Once you close on the park, you’ll have to file for abandoned titles. The process can vary wildly by state, but it’s always a PIA and takes time and money. Figure $400-800 your cost if you hire an attorney to help, which is something I would recommend that is if you can find one that actually knows how and that that will do it. Best thing to do is contact your state’s MHA and see what the process is and if they have anyone to recommend and go from there.
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