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Updated almost 3 years ago on . Most recent reply
Contract for Deed Questions
Hi BP community.
I have a MHP in Casper WY. I have a handful of park owned homes that I would like to sell on contract for deed. I would also like to sell the park as a whole but remain the owner on the mobile homes that are on a contract for deed, and collect that income. I know it is not typical and that usually the CFD's or seller finance loans would transfer to the new owner. I don't want to do that for several reasons, one being tax deferral. Any ideas on structuring the CFD's as to where I can sell the park, retain the CFD's and protect the new owner against lot rent default? Any experience selling a MHP and remaining the lien holder/beneficiary of a CFD agreement?
Thanks!