Buying a Mobile Home to Rent Out without a Retired Title

[Sean Salandy]

I am considering purchasing a mobile home to rent out to a tenant. I would be purchasing the land and the mobile home. The land is a little over an acre and the mobile home that is currenlty on it, is a singlewide that was built in the 80's. From my initial research, it appears that the title for the mobile home has not been retired. From what I understand, most lenders will not lend on a mobile home (on land) that has not had the title retired. I'm not sure what completely goes into the process of retiring a title (I will find out tomorrow) but does it make sense to buy a mobile home that does not have a retired title (through owner financing or cash purchase)? I feel like doing so would affect any potential refinance options down the road.

Could I purchase the the property with the intent to have the title retired later on so that I am able to refinance later? Note: the home is currenlty on a permanent block foundation from what I can tell. Meaning no skirting around it.

Could I negotiate with the seller to have the title retired before hand so that I can just use bank financing to begin with?

Thank you in advance.