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Old 06-25-2015, 12:59 PM
 
Location: Maryland Eastern Shore
969 posts, read 2,851,610 times
Reputation: 935

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Quote:
Originally Posted by rdlr View Post
SHORT DEFINITIONS: Some communities use the word "modular" when the home is "manufactured".

A Modular is constructed in a factory under controlled climate conditions, and is delivered the site in two sections. It is 'stick built' but in a factory.

Manufactured means the home is built to HUD standards, and inspected by a third party company for wind resistence. Hud seals are on each corner. Dwelling is delivered to site in two sections. 'Manufactured' has replaced the old term from years ago...'trailer', because they are built much better now, and conform to HUD standards.

"Land Lease" means you don't own the land, but rent it. You own the home, but not the land.
I knew the modular part () - didn't know the land lease. So is this what "ground rent" used to mean?
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Old 06-25-2015, 02:57 PM
 
Location: Delaware Native
9,719 posts, read 14,257,964 times
Reputation: 21520
Quote:
Originally Posted by Grasonville View Post
I knew the modular part () - didn't know the land lease. So is this what "ground rent" used to mean?

Yes "ground rent" = land lease
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Old 06-25-2015, 05:38 PM
 
Location: Maryland Eastern Shore
969 posts, read 2,851,610 times
Reputation: 935
Quote:
Originally Posted by rdlr View Post
Yes "ground rent" = land lease
What is considered reasonable?
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Old 06-26-2015, 11:02 PM
 
Location: Long Neck , DE
4,902 posts, read 4,213,922 times
Reputation: 8101
Quote:
Originally Posted by Grasonville View Post
What is considered reasonable?
Many communities provide services such as pools , landscaping and security with the ground rent fee. What may seem reasonable now will go up and should you be unhappy you will either have to move your mobile or sell it meeting conditions of the park for the sale.
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Old 06-27-2015, 07:31 AM
 
Location: Former LI'er Now Rehoboth Beach, DE
13,055 posts, read 18,102,621 times
Reputation: 14008
While I agree 100% with longneckone, many people feel differently about ground rent or land lease. Essentially, it boils down to a payment monthly to rent the land that may/maynot escalate over time. The escalation would depend upon your contract. This topic has been discussed here before and here is the that will tell you all you need to know.

https://www.city-data.com/forum/delaw...ning-land.html
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