Hey Everyone! Here Is What NOT To Do When Closing On A Sarasota Mobile Home!
I hope you are having a great week so far and you’re staying safe out there!
We here at The Mobile Home Dealer continued to do our very best to deliver all of the most relevant information to you in the mobile home space and wanted to thank you for taking a few minutes to learn about what needs to happen for the sale of the mobile home to go through on leased land down here in the state of Florida.
Just this week, we ran into an issue that needs to be addressed so that all of the folks watching this now or in the future understand what can not happen when closing on a mobile home.
Here’s a quick story that happened just this week to illustrate this.
We have a listing for a mobile home on a lease land in South Florida. Here, we have a written offer by an eager Buyer who wants to purchase the house from the Seller!
The Seller cannot move out of the home due to being in a financial situation where they are very tight on funds. The Seller also feels they need over six weeks to move out of their home. The Buyer wants to hurry up and move into the home because they are currently staying with family and want their own place. The Buyer has wanted to dictate when they will move into the home before they are park-approved. The Seller wants to get paid in full prior to closing on the home so they have enough money to hire a moving company to move them out of the property.
Do you see what we have going on here?
If not, let me be a little bit more direct.
As licensed mobile home brokers in the state of Florida, we need to have the park approval on file for the Buyer in order for us to sell the home.
If we were to skip this step and sell the home to a non-park-approved Buyer, and they move in and then later find out that they cannot live in the park for whatever reason, then we have a real mess on our hands!
Traditionally, at closing, this is when the keys are exchanged, and all the funds, less the deposit on the home, are handed over.
Right away, we have an issue here.
With both the Buyer and the Seller putting their cart before their horse, with the Seller wanting to be paid in full before closing on the home and the Buyer wishing to move in before cutting park approval, we are moving fast in the wrong direction.
To iron things out, we immediately stopped this sale and told the Buyer they needed to get approved by the park before we moved any further.
This caught the Buyer off guard, but we stressed to them that if they were not approved, we would not sell them the home, which would essentially kill the entire deal.
We told the Seller that they could not get paid in full before closing because the Buyer would then have no assurance that they would ever receive the home as the Seller has all the money but did not hand over the keys.
Mobile Home in 55+ community
Once the Buyer was approved, we got half of the sale price as a down payment, had the Seller in writing state that they would be out of the home at a particular date, at which point we would close on the home, and the Seller would receive the rest of their payment for the property.
We at The Mobile Home Dealer always experience something unique, and this is just one of these scenarios where the sale can be thrown out of the window if no one wants to cooperate.
Although both the seller and buyer are in the same difficult situations, it is always important for both parties to follow the process.
The main takeaway here is the buyer rushing to close the deal without getting approved by the park.
If you are looking to buy a mobile home in the Sarasota, Florida, area, you should first get approval from the park before closing a sale with the seller. Moving into a mobile home without the park’s approval could result in many problems or, worse, being kicked out.
You cannot buy a mobile home without park approval because the sale cannot be completed without the park’s management approval of the new owner. The park’s management has to make sure that the new owner is someone they feel comfortable with and that will follow the rules and regulations of the park. This approval process can take some time, so starting it as soon as you are interested in buying a mobile home in a Sarasota, Florida, area park is crucial.
I hope the takeaway that you have learned from this video is that an offer is just an offer until we have park approval, and a closing date is when the keys are exchanged for the bulk of the money.
Attempting to sell a mobile home in any other way will cause more issues than it is worth, trust me!
Need more similar stories? See some of our previous experiences explained in the following articles:
How To Not Get Your Mobile Home Sold – Episode 1
How To Not Get Your Mobile Home Sold – Episode 2
How To Not Get Your Mobile Home Sold – Episode 3
How To Not Get Your Mobile Home Sold – Episode 4
How To Not Get Your Mobile Home Sold – Episode 5
The Mobile Home Dealer is a licensed mobile home broker in Sarasota, Florida, and the surrounding areas. We provide professional buy-and-sell assistance to our clients. If you have any questions, please get in touch with us by clicking this link. You may also visit our Facebook Page and send us a message.
This is Mark Kaiser with The Mobile Home Dealer. We help mobile home Buyers and Sellers achieve better lives!
See Also:
- Do You Really Want To Sell Your Sarasota Mobile Home?
- What Is The Difference Between Mobile Homes And Modular Homes?
- Moving Day! Your Sarasota Mobile Home Is SOLD!
- How Does Sarasota Real Estate Craze Affect Mobile Home Sales?
- How To NOT Get Your Sarasota Mobile Home Sold Episode #3