How do I sell a mobile home on payments if I buy it on payments

[AJ Locke]

Good Morning BP,

I have been flipping mobile homes for awhile.  I am in Florida and if I wanted to buy using seller financing, how would I go about selling with seller financing when they are in a mobile home park.   I know that when I buy on payments the seller and I go to dmv and they get to hold title in my name with them as a lien holder.  I have no title to transfer so how would I be able to sell it on payments to someone else?. 

Thank you and looking forward to everyone’s response!

AJ

[Doug Smith]

I go against the grain and I'm not a fan of subject-to financing on real estate deals...but of course, this isn't a real estate deal. My biggest issue is breaking loan covenants by not telling the lender you've transferred title to someone that they didn't underwrite the loan for. In this instance, however, you could mimic a "contract for deed...er title" by creating a contract with the new buyer that, once they complete a payment schedule, that you'll transfer title to them. You can match it up with the Seller Financing deal to mark up the yield and keep the difference. That way, you're not transferring title and breaking the agreement with the Seller (if that's even in the deal). If you transfer title, what would keep the new buyer from going to the seller and "refinancing" the deal to cut you out? I would stick with the "contract for title" (hey...that sounds like we just created something there) and do it that way. Good luck to you.