Need advice on selling MH on note

Hi. This is the first time I will be selling a home on a note. Anyway. He is buying the mobile home as-is condition. Its a handyman special. He is putting half down & making payments for less than 6 months. I just need some advice & proper paperwork for state of NJ. What happens if he does not make payments? Can it be to where the home will just go back to me? Repo? How does all this work? Thanks in advance.


I started out using paperwork from Lonnie’s courses, had them vetted by my local attorney and went forward. It is important to get someone local to look at whatever you use.

It seems like many people want to skip the attorney part, but it’s just a cost of doing business. I like to choose the most competent RE attorneys- and if they are the most expensive that’s okay. Why? Because if you get sued, or run into legal issues, the person who is suing you cannot use the most competent attorney in town because you’ve done business with them OR someone in their firm. It’s a conflict of interest issue. So pay good money once to get your contracts done right.

If your buyer does not make payments you go find them and talk about why they are not making payments and either re-negotiate the terms so that they can stay (I prefer this- if they have a track record of trying to pay on time) or you explain that they have to leave. Simultaneously, you begin your eviction proceedings so that your conversation has some teeth.

Yes, hopefully you will get the home back and just do it again. In over 55 Lonnie deals now, I’ve taken back homes numerous times, and most of the time it’s been friendly. Three or four times I had significant expenses relating to clean-up or repairs (greater than $3K). Only twice have I had significant difficulty getting someone out and when I called in the marines (attorney) they either paid me or left without further legal issues (which is not to say there wasn’t plenty of drama).

Screen well, be a good listener and this business can go pretty smoothly. You start wanting to get homes back.

good luck,



Great advice. THANK YOU!

Two more questions on this front:

 1 - Which forms do I need for a sale? Is it just a bill of sale and a Promissory Note?

 2 - If a tenant isn't paying and they own the home and you aren't the one carrying the note, how do you go about evicting them?

 3 - I lied:) Where do you find values for homes (Did you buy a NADA book or do you go somewhere online). 

Thanks in advance for taking the time.