All Forum Posts by: Paul Sofia

It's fine, as long as you understand what you are buying.  How far through the underwriting process are you?

This is not a mobile home park if each home has an individual parcel.  Are you paying cash? 

I would have your attorney draw that up for you. 

 Yes, Chris.

Cody, I would suggest to the owner to keep the POH's and do a 2- 3 yr. lease with him on the pads with renewal option.  At that point, no worries in the maintenance of the homes.  I am guessing the shell value of the homes are minimal?

 Unfortunately, it's very rare that you find an agent educated in the MHP space.  

I'd like to discuss this with you, Gerald.  Where in Concord? 

Sent you a pm, Eric.

Sent you pm, Jason.

 You are partly right.  If home is deeded to land, it would be treated like any other mortgage.  If home is in a park, on rented private lot or on land where the home has not been deeded to real property, it would be treated like an auto loan, commonly known as chattel loans.