If you buy a mobile home, do you own the land it is on? If not, how much on top of your mortgage and taxes is

Emily
Other/Just Looking
Collingswood, NJ

it usually to pay for renting the land? When you move, can you rent your mobile home, or do you have to sell it?

Answers (3)
Kimo Jarrett, D...
Agent
Huntington Beach, CA

You can buy a manufactured home where you own the property in or outside a Mobile Home Park (MHP) or where you rent the space. Most manufactured homes are accessed property taxes, however, you can determine the tax by contacting the county tax accessors office.

If your Manufactuired home is in a MHP and you pay space rent as a tennant and decide to move, you'll have to sell your home because most all MHP's forbid renting of any kind. The buyer must qualify to become a tennant, so it's essential that buyers are qualified to become tennants so getting a new tennant package that details the eligibility requirements is very important.

The space rent is determined by the location of the property, the ammenities and general condition of the MHP. Some MHP's are very restrictive in size, are poorly maintained and managed, consequently rents are generally lower. So choosing a MHP is as critical as choosing a neighborhood, isn't it?

Another consideration is the amount of rent a new tennant must pay to become a resident. It is not uncommon that a new tennant must pay several hundred dollars more than a current tennat is paying, which most often makes it challenging to sell a manufactured home. Some MHP's offer 1, 5, 10 year lease arrangements or even month to month, so it all depends on a buyers circumstances, doesn't it?

Wed Sep 23 2009, 02:48
Valorie Stover...
Broker
Mission Viejo, CA

I Iknow that there are both types of ownership in San Juan Capistrano so it would depend on which ones you are looking at. You can do a search from my web site and it will tell you if there is space rental or you are buying in as shared ownership. Wishing you the best!

Thu May 28 2009, 17:01
Bob Phillips
Agent
Coto de Caza, CA
FIRST ANSWER

Hello Emily,

The correct answer is: "It depends". MOST mobile home parks charge you a monthly "space" rental for the ground your coach sits upon. A select few parks bought their land and each owner owns the land they sit on.
( Kind of like a condominium ownership of common grounds.)

Your best bet is to talk to the people ( hopefully an agent.) selling you the coach, or to other "owners" in that park. Good luck in your new home.

Web Reference: http://BobPhillips.net
Wed May 27 2009, 09:36

Didn’t find what you were looking for? Ask a question!

Search Advice

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

View all » 1 - 3 of 36
Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback