All Forum Posts by: Sean Salandy

@Scott Matthew C. Thanks for the tips. I will be looking into them as part of my due diligence process.

@Robert Cheek That is a good plan. I might be able to follow a similar path to increase value. I will do my homework on this. Thanks for the information.

@Robert Cheek Thanks for the response. So you determined that it would be more beneficial for you to retire the title. Did you have to do anything to the property to get it retired or was it already on a permanent foundation and it already met your county's guidelines/requirements?

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.

Is there ever a scenario where an investor would pay for their own appraisal so they know what to sell their house for and not go through the headache of setting a price only to find that the buyer's appraisal is lower than what the price is set at?

@Christopher Phillips this is helpful. Thanks for the response.

@Brian Pulaski @Wayne Brooks Thanks for the responses. This is for future reference. I am re-doing all of my documents (templates). Where I did not include a penalty in the past, I will include one in the future.

Wayne Brooks thank you.

Does anyone have access to a mechanic's lien release template that they can share?

What recourse (if any) would an investor have over a contractor that did not finish a project in the timeframe agree upon in the written agreement if the agreement did not include a penalty?