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Updated over 2 years ago on . Most recent reply
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Mobile home title search by Bureau of Motor Vehicles
My parents are selling their double wide mobile home, and they have an outstanding mortgage balance on it. The buyer's lender wants to see a clean title, but insists that the title check goes through the Bureau of Motor Vehicles (BMV) because it's a trailer. BMV says it'll be 2-3 weeks after my parents' mortgage is paid off before they can show a clean title. So, my parents are now going to settlement on 29 Nov and buyer is going to settlement on 30 Nov. Then the BMV will perform their title search, and my parents won't get their sale proceeds until 3 weeks later. Does anybody have experience with something like this? Is it legit? What problems do we need to look out for?
Thank you very, very, very much!
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Quote from @Robert Marx:
Thank you for the very quick response. It sounds like you have experience with this, and it's legit. Is there anything to worry about or look out for during the transaction? Also thank you for the BMV vs. DMV correction. I appreciate that.
Update: are they settling in the wrong order with my parents selling and then the buyers buying the next day? Your response seems to imply that the buyers should settle first. Thanks again!