2/14/2021 0 Comments Mobile Home Buyers Can Find Smart Solutions When Bargaining for All-Cash Mobile Park Deals"Buyers beware - here are the secrets to buying new mobile homes". That's the title of an informative new report released today by the National Association of Realtors. The report is "The Insider's Guide to Buying New and Used Mobile Homes: Tips, Tools, and Features", which can be downloaded free from the report website. This report was written by Certified Senior Realtor Amy Gutman, who is a member of the National Association of Realtors. I'm glad that someone is taking the time to write such a helpful report on such an important topic. When buyers are shopping for mobile homes, they should consider the possibility of becoming involved with a "buyer lien" or a "seller's lien". A buyer's lien is created when the buyer of the mobile home signs a contract that binds the lien holder to buy at the end of the contract - sometimes in as little as one day. If the lienholder fails to make payments on the contract, the buyer has the right to foreclose on the property and become the lien holder. Some buyers have been known to "flip" a mobile home by selling it under the threat of a buyer lien. In other words, the buyer could hold the seller responsible for payments beyond the time frame specified in the contract. On the flip side, a seller's lien is created when a buyer fails to make payments after a certain period of time. In this case, the buyer would have the right to foreclose on the property and become the seller. This scenario presents buyers with a difficult decision - would they rather become the buyer or the seller? This article explains how buyers and sellers can overcome these challenges. The good news is that it is possible to work out a payment buyer and seller arrangements that both parties can agree upon. The most common option for mobile home buyers is to hire the fast mobile home buyers in Phoenix. This option allows buyers to purchase the property tax-free and without having to pay the property taxes until the full payment is received. This scenario is attractive to buyers who are able to quickly obtain the money needed to complete the purchase. Unfortunately, many used mobile homes are owned by bank holding companies or third-party financing institutions, and these entities may not be willing to grant sellers this tax-free status. For buyers who prefer to consider a fixed-rate loan instead of an adjustable-rate loan, there are legit we buy mobile homes company that do allow a fixed-rate loan to be set at any time. A fixed-rate loan is usually better suited for mobile home park owners who own multiple mobile homes and wish to take advantage of the equity in all of these homes. The payment buyer and seller will both agree to a specific monthly payment that will cover all expenses during the term of the loan. If the mobile home park is sold before the loan has been paid in full, the lender may choose to foreclose upon the mobile home park and resell it to another party. When shopping for mobile home parks, be sure to keep in mind the location and size of the property. For buyers who want to move all of their belongings at one time, a mobile home park that is located close to their work, school or other activities is probably best. The same goes for buyers who want to get all-cash deals on mobile homes because the payment buyer and seller will both have a financial agreement in place. Always shop around when shopping for mobile home parks in order to get a great deal. Find out more details in relation to this topic here: https://en.wikipedia.org/wiki/Investment_rating_for_real_estate.
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