Hi all, sorry for all the questions lately, just working on purchasing my first MHP and feeling a little overwhelmed.
As I’m working through the items on the 30-day due diligence workbook, do I cc my title company in all my correspondence with the seller? Will the title company be the ‘harasser’ for me after I submit my list or do I need to do that myself? What role do they have beyond escrowing earnest money?
What items are included on your list?
The 26 items in the due diligence manual, with the exception of well and septic items as the park is on city utilities.
The title company is NOT going to do any of your due diligence work. They are being paid (at closing) to insure that the land being transferred matches what is filed in the county land records. They are reviewing the easements to utilities to make sure the title company excludes any liability (to themselves) related to those easements. They are checking to make sure that the Seller actually can transfer title to the property. They do hold the escrow money and it is easier to get that returned if you legally cancel the contract.
The first one is always the most overwhelming. It is all on you to check everything out and you cannot / should not delegate anything to anyone. It gets easier as you look at more deals and get them under contract.
Break up the diligence into manageable chunks as the Manual lays out and you will be fine.
Thanks for the advice. Will keep at it.