What if you can't sell your manufactured home? (for sale, real estate)

[clc08]

Hypothetically, what if a person purchased a manufactured home in a community and later wanted to sell it, but had no buyers? How would the person eventually get out of paying the lot rent, etc?

We're looking at all the options before we purchase anything. We see what looks to be nice areas of over 55 communities with lots of amenities, etc, but we are wary that there are so many units for sale at practically nothing, which led us to asking this question....

Thanks.

[Christinerica]

Better worry more about the trailer park being sold and the trailer owners forced to move thier trailers.

[BugManTPC]

Trailer wont't sell. Don't want to pay lot rent.

If you abandon, the property owner evicts you. At that point they have the option to lean the property against the unpaid and mounting debt. The submit a title request with the seizure / eviction process, if uncontested, meaning no outstanding loans, the title is transferred to the park owner, they sell it.

The court seizes it, then auction for unpaid taxes.

In short, a manufactured home is governed by the same rules as a car. It can be repossessed, it can be seized, it can be evicted or impounded..

Most likely outcome, it short sells and the bank comes after you for the difference. Assuming there is an outstanding mortgage.

2 Pennies: do your research, look at comps and talk to neighbors, during season, our winter months. You are buying a house, all of the same rules apply. Buy somewhere that has a great location, a fair well maintained community with a reputable management company, an active owner or manager and some sort of community Hoa rules. This helps maintain property values.

Or

Buy a house or condo in a growth area.

[clc08]

Originally Posted by BugManTPC

Trailer wont't sell. Don't want to pay lot rent.

do your research, look at comps and talk to neighbors, during season, our winter months. You are buying a house, all of the same rules apply. Buy somewhere that has a great location, a fair well maintained community with a reputable management company, an active owner or manager and some sort of community Hoa rules. This helps maintain property values.

Or

Buy a house or condo in a growth area.

Great advice, but I don't know how we are going to be able to do that. If he gets the job transfer, we will have to be relocated in about 3 weeks. I have no way of knowing ahead of time if the location is OK with a reputable management company, etc, or where the growth areas are...

I suppose we will have to rent somewhere for awhile which seems like a huge waste of money, and finding someone that will accept our dog over 30#s...is a challenge.

When we bought our former home in Bonita, the realtor told us it was a great area, etc. Turned out that wasn't exactly the case...

[Kim in FL]

Then I suggest you rent. You won't have any issues finding a rental that will take your dog and terminating a lease is a lot easier than selling and/or facing eviction.

[jamfl]

I found a place in one of the 55+ communities to rent long term. To me it makes sense to do that while I decide about relocating permanently. FL real estate is risky, and buying a MH even more. I would not look at initially renting as a waste of money as it does provide you with the means to get to know the area better before you make a long term investment for which you may be sorry later.

[Restrain]

We found them offered free on Craigslist. Now, there are some brokers in these parks that will sell for you and actively market them. If there is one in your park, good. Otherwise, just look at the number of homes listed in mhvillage