Mobile Home Tip of the Day ✅ · Real Estate Learning Community

Mobile Home Tip of the Day ✅

Remember that mobile homes are not considered real property (real estate), they are considered personal property (like a vehicle). Therefore, you cannot complete mobile home transactions the way you would a home.

For example, there isn’t a “title search” involved before a “closing” with a “closing attorney or title company”. Usually, there is just the owner having a proper “title in hand” that shows their ownership and information on the mobile home, then there’s a “sale” where you would generally meet in person to exchange money for the title and then there is bringing that title to your local “DMV”, not a real estate attorney or title company.

If you plan on wholesaling a mobile home, be prepared to either have to buy the mobile home with cash before reselling to an end buyer, or having the end buyer included in the transaction with you and the seller, disclosing the wholesale or assignment fee amount.

Mobile homes being sold 8 out of 10, will not be sold with the land included. Most sellers know the value in keeping the land and having the mobile home removed. You will need to factor that in to either your overall cost or the end buyers cost if it needs to be moved.

If the mobile home needs to be moved, you must check the title on what year it was manufactured (or ask the owner for a quick idea), because there is a maximum age limit on when a mobile home can legally be transported. Mobile homes built before 1976 generally are not able to be transported legally by HUD (U.S. Department of Housing and Urban Development) standards.

1 comment