Article - Mobile Home
Colonial Beach Realtor
a division of Treck Realty
Many of you have inquired about purchasing land to place a mobile home on it, and I'd like to share some insights to help guide your decisions. Firstly, when considering buying land, it's essential to account for the costs of installing necessary utilities, such as a well and septic system. Before committing to any land purchase, ensure the parcel has passed a percolation test (often referred to as "being perked") to confirm it's suitable for a septic system. Additionally, verify that the area doesn't have restrictive covenants prohibiting mobile homes.
When it comes to acquiring property that already has a mobile home, there are several key points to consider. Determine whether there's a deed for both the land and the mobile home. Unlike traditional homes, some mobile homes have a title similar to a vehicle, especially if they're located in mobile home parks. This means you might need to register the mobile home at the DMV. It's crucial to ask the seller if they possess the title for the mobile home.
It's common for individuals to move their mobile homes from a park to privately owned land. However, be aware that the value of a mobile home with a title typically depreciates over time. Financing such properties can be challenging, as most lenders are hesitant to offer loans for mobile homes not permanently affixed to the land or without a HUD (Housing and Urban Development) certification plate. For a mobile home to be eligible for financing, it must be permanently attached to the land (i.e., without wheels and on a foundation) and have a HUD plate.
If you're considering purchasing a property with a mobile home using cash, with plans to apply for a HUD plate later to make it financeable, be cautious. There's no guarantee that your application will be approved. This uncertainty is a common reason why some properties are marketed as "cash only" sales. For those interested in learning more about mobile homes and HUD plates, I recommend seeking out resources that provide detailed information on these topics.