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Updated about 11 years ago on . Most recent reply

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Belinda Lopez
  • Specialist
  • Houston, TX
300
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579
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How to write up a sales contract for MHP with real and personal property homes?

Belinda Lopez
  • Specialist
  • Houston, TX
Posted

I am in the process of writing up a sales contract for small 12 lot park plus the owner's personal home. After doing some research the county and state tax records reflect the two of the homes are considered real property while the other 4 are titled as personal property. The owner told us she owned 3 homes only and was owner financing one but according to the tax records, she's still the responsible party for all the taxes on a total of six homes. I'm wondering if I need to involve a MH Dealer to handle to the 4 personal homes as Texas only lets you sell 3 mobile homes per year without a license?

Anyone bought a park with homes like this in Texas? Not many attorneys, agents or brokers know how to write up MHP contracts so not even sure who to turn to for assistance.

Most Popular Reply

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355
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Jim Johnson
  • Rental Property Investor
  • Denver, CO
324
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355
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Jim Johnson
  • Rental Property Investor
  • Denver, CO
Replied

In Texas- if you are buying the homes as part of your business you do not need a dealers licence, only if they are being sold to a consumer. So in the contract phase- your golden.

  • Jim Johnson
  • Loading replies...