question about owner financing on mobile homes

General Real Estate Investing
1

Hi, everyone! im new here and just a couple of questions for you…

I am doing a lonnie deal right now and here is my situation…

i bought the mobile home from a bank(repo) and here is what i got from the banker:

bill of sale
vehicle repossession certificate
title releasing all interest

i have already sold the mobile home and got a deposit for it… how would i go about doing the paperwork for it?

i need to make a note for $11,000 and get the thing registered with me as a lien holder… right?!?

please tell me what forms i need to use and do i need to get the note notarized?(i have some forms that came with the DEALS ON WHEELS BOOK)

im in oregon and here we dont go through dmv for the title anymore… but through city hall

Thanks for any help, John

2

i was kinda hoping someone would jump on this… i need to know by tomorrow…

3

OK I haven’t studyed a lonnie deal in years but I’ll take a shot at it. Yes you’ll need a Note, Land Contract, Contract for deed/title whatever your state uses. Having it notarised and recorded is also up to state reg’s. I’m in MI. and don’t have to do either. For a better answer I suggest visiting the mobile home forum below and reading all the pages. You’re up for a long night. Herbster

4

land contract? this mobile home is in a park, so i think i dont need that…

thanks for the reply, ill go read the mobile home forum…