If one were to buy a mobile home park. Could that person then sell each home with the lot it sits on?
Also if someone has a site or any suggestions on where to check out mobile homes to buy and move to another park would be great. thanks
Most of your mobile home owners aren't blessed with copious amounts of cash, or they probably wouldn't be living in them in the first place. So I find that the best place to search for these homes for sale are in the Thrifty Nickel papers or Penny Saver papers. Their ads are usually cheaper/free.
Also ... you can go to "repo depots" and, if you understand the costs of moving mobile homes, you can get a good deal before the company pays to have it hauled to their lot and then resold only to be moved to yet another location. Usually, they'll tell you the location and you can run by and check it out at its current location (I'm not sure this is legal, but that's what happened here when I went to purchase a MH).
You need to be careful when investing in mobile homes. I know that here in Arkansas they're not considered "real property" which means if you buy it and there are underlying liens on it that you didn't know about and are not current, the repo man can come and get it and all of the belongings in it go with it at the same time. Just like cars that get towed. Except this is someone's home.
Good luck. Mobile homes are sold in copious amounts here in Arkansas. Don't know what it's like in OR. Your best deals come when the move is the shortest ... as with moving a regular home.
[ Edited by mkdurham on Date 08/22/2004 ]
[ Edited by mkdurham on Date 08/22/2004 ]
Sounds like you're really asking about how one goes about selling off individual lots from MHP.
Around the country, there has been some of this, and some have been "Condo'd" and then each resident allowed the opportunity to buy his own MH lot, and a share in the common areas.
Where this has been done successfully, the residents have organized, then hired lawyer to condominiumize their MHP, then bought the MHP from the owner.
Expensive, lengthy deal, and lots of things to consider.
Probably you can find lots of info online about "MHPs and condominiums".
In WA State, several years ago, several MHPs were condo'd, and there was even, for a short while, a state office whose function it was to promote the idea.
The state policy was to help MHP residents keep their little home patches and not be tossed when the MHP owner sold the MHP to some commercial developer who'd scrap the MHP, toss the residents, etc.
I know of 2 or 3 MHPs in WA where this was done and the MHP residents did buy their own lots.
Financing for the new condo deal was not easily found, I recall, and several efforts were thwarted because no financing was found.
The old, now defunct Sea 1st Bank did one or two, but I think they would not have wanted to do any more. Too much trouble for them.
[addsig]