Selling my Mobile Home in North Carolina (NC)

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Old May 4th, 2011, 12:21 PM   #1
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Confused Selling my Mobile Home in North Carolina (NC)

Hello everyone! I am going to be selling my mobile home this month. I already have someone who wants to buy it. I was just wondering if there is anything I need to know about selling a mobile home. Or a home in general.

I read somewhere about a bill of sale. Is this the only thing I need to sell the house? Does anyone know about selling mobile homes? Is it much different from selling a real house?

Also, the people who want to buy it from me want to give me a few thousand up front, then make payments to me each month. Should I wait until they have paid me completely to sign the title over to them and complete the bill of sale? I'm so confused!!!

Any advice would be appreciated.
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Old May 4th, 2011, 03:05 PM   #2
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Default re: Selling my Mobile Home in North Carolina (NC)

I wish to inform you that selling of Mobile Home involve sale agreement between parties. In this regard if sale agreement is in writing then rights and duties of parties can be defined. When agreement is in writing then buyer and seller terms of agreement are mentioned and interests of parties are better secured.

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Old May 4th, 2011, 09:49 PM   #3
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Default Re: Selling my Mobile Home in North Carolina (NC)

Quote:
Originally Posted by megahops View Post
Hello everyone! I am going to be selling my mobile home this month. I already have someone who wants to buy it. I was just wondering if there is anything I need to know about selling a mobile home. Or a home in general.

I read somewhere about a bill of sale. Is this the only thing I need to sell the house? Does anyone know about selling mobile homes? Is it much different from selling a real house?

Also, the people who want to buy it from me want to give me a few thousand up front, then make payments to me each month. Should I wait until they have paid me completely to sign the title over to them and complete the bill of sale? I'm so confused!!!

Any advice would be appreciated.
If the mobile home is not attached to the ground (you are not selling it with real estate attached to it), it is handled somewhat like a vehicle purchase and sale.
If you are selling it on terms, a portion down with installments, then a UCC (Uniform Commercial Code) statement must be filed in order to create a lien on the tittle or the lien noted when title is transferred..

Here is the information from the State of North Carolina's official site with link so you can read the entire article:

THE MOBILE HOME: Real Property or Personal Property?

"...When the home is sold by a retailer, the customer or the retailer acting on behalf of the customer applies to the Division of Motor Vehicles for a Certificate of Title. The DMV issues the Certificate of Title based upon the manufacturer's Certificate of Origin. If the home is subsequently resold, the Certificate of Title is assigned to the new purchaser.

Most m/m homes are sold and financed as personal property, just like motor vehicles. Ownership of the home is evidenced by a Certificate of Title. Any lien or security interest in the home is evidenced by a notation on the Certificate of Title or perfected by the filing of a UCC financing statement. M/M Homes as Real Property

More and more frequently, however, m/m homes are being placed on permanent foundations in residential subdivisions or on individual tracts of land. In these situations, the homes are being sold and financed as real estate, and loans used to purchase or refinance them or the land to which they have been affixed are secured by deeds of trust.

There are legal and practical implications when an m/m home is sold and financed as real estate. First, information relative to whether the m/m home has been placed on a permanent, enclosed foundation with the wheels, moving hitch and axles removed is often requested by the lender. An affidavit from the owner or his attorney addressing these points is recommended....."
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