Can I call my mortgage company if someone has made me an offer, also part of this doublewide isn't even on my?

Asked by Jenni1, Harold, KY Wed May 13, 2009

Can I call my mortgage company if someone has made an offer, also part of this doublewide isn't even on my property ( error when setup) how do I handle that? How do I find out what the book value on my doublewide is?

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Doug Garner, Agent, Independence, KY
Wed May 13, 2009
Hi Jenni,

First, Yes you can call your mortgage company anytime to check your mortgage balance and or payoff amount. Be sure to ask for a "payoff" amount if you want to know exactly how much you will owe if the property is sold. A payoff and the mortgage balance will most likely be different amounts.

Disclaimer: I am not an attorney, so don't consider this legal advice. Consider this as merely informational. You would be wise to contact an attorney to resolve an issue with the doublewide not being totally being on your land.

If the doublewide is not setup totally on your land (I'm assumeing that it is not a permanent foundation) that is being sold it will most likely be difficult, if not impossible, for a new buyer to get any kind of financing.

If the purchaser is paying cash and there is no financing involved you certainly won't run into the buyer financing problem.

In Kentucky it is the sellers responsibility to disclose known defects in a property to a prospective purchaser. An encroachment (doublewide partially on someone else's land) like the one you've described would most definitely be labeled a defect.

There are several different remedies to resolving the encroachment problem.

1. The most obvious would be to move the doublewide. This may seem expensive but could ultimately save you money in the long run.

2. Ask the neighbor to sell you some land to cover the area that is encroaching. This would require a survey and possibly approval with your city/county planning commission. It could be costly; Cost of land+cost of survey+planning commission approval+title exam+title insurance+deed prep and transfer=?

3. Ask the neighbor to grant you an easement for the portion of land that has the encroachment. It would still cost a survey+approval+easement recording fees=? but should be less expensive than purchasing the effected land.

However, If you own a doublewide that partially exist on a easement it may be difficult to sell or may not be worth as much to a purchaser than a property that did not have an easement.

Good luck, I certainly hope everything works out.
1 vote
Brenda Harper, Agent, Cadiz, KY
Wed Jul 14, 2010
Unless you get the error on the set up cleared up, you cannot give a free and clear title to the property. In my opinion, this is the first thing that needs to be done.

Regarding you contacting the mtg company, I am assuming you are not using a Realtor (shame on you), I would ask the potential buyer for a preapproval letter from the bank.

Hope this has helped in some way.

Brenda Harper, Princiapl Broker/Owner
Century 21 Lake Barkley Realty
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