I am looking for help on how to write up a simple offer letter on a 1975 sw Titan MH in need of repair, that I saw on saturday. The mh is being sold “as is” and is in a park, (park owned home). It has not been occupied in 2 years, the lot rent was being paid so park didn’t care if there was anyone living in it, until they stopped paying of course .
They are asking 9,500 for it. It is a cooperative park so the $500 is a buy in and is refundable when you move out. Anyway, I am planning on offering 4,500. I do not know what the park is into it for dollar wise but from the tax stamp records they only paid min of $40, the transaction was less than $4,000. There where two years worth of property taxes owed, approx $986.00 and several months worth of lot rent @ $360. per month (when I asked them about how long the rent was not being paid they would not answer directly). Then of course the cost for them to foreclose (lawyer fees).
I am assuming they just want to recoup their losses and get someone in there to pay rent.
Any help on how to write an offer letter and any other input appreciated.
Whatever contract you get OR create, make sure it is specific to your state. I would even advise you to consult with a real estate lawyer to see what he says.
What works in Texas, will probably not work in California. And what works in New York, will probably not work in Florida.
Mobile homes cross a fine line between existing as personal property and real estate, and each state handles the sale/title transfer/etc of mobile homes differently.
Just drawing up a generic promissary note and buying a mobile home from someone on the street would not be smart, as you may never get title to it and it could have liens attached to it!
Some states regulate mobile homes like automobiles - so you might go through the DMV.
In places like Texas most mobile homes are considered personal property (not real estate), like cars, but mobile homes are registered through a separate government agency instead of the DMV. Specifically, you go through the Manufactured Housing Division of the Texas Department of Housing and NOT the Texas Department of Motor Vehicles. And additionally you have to be licensed here if you buy/sell mobile homes for a business (note though an individual or business can buy/sell one mobile home per year, or something like that, and still be unlicensed). Oh, and in Texas if the mobile home is cemented or otherwise permanently connected to the ground (say via steel bars that cannot be removed with just a bolt, like typical mobile home tie-downs) — it actually does become real estate and totally changes the way you do contracts/etc when buying the mobile home.
I have heard in some states, though I have yet to see this myself, mobile homes are regulated just like real estate even if they are not connected to the ground!
So … that’s why I say I would spend a couple hundred bucks and go sit down with a lawyer. Good luck