Purchasing used home

[Brady Smith]

I am purchasing a used mobile home this week. It has been a very bad experience in dealing with the previous owners, but I need to know a couple things. When I asked my realtor what the bottom line I needed at closing was, she said all I need was the amount due on the contract that we signed for the purchase, but said nothing of title or taxes or transfer fees or anything like that. Do I have more than just the day of settlement to make the tax payment and how does the title end up in my name if she said nothing about it? Please help, I feel lost and this realtor has really not been of too much help as closing approaches.

Brady Smith
66 Colonial Manor Estates
Annapolis, MD 21401

[rmurray]

I think you need legal advice on what is necessary...You want to be sure the title is clear...and all back taxes are paid...realtors are not legal advisors...they get no pay if you do not close..

[Roy Bonney]

If this is a single section home, it may be as simple as them handing you the title, if their are no liens. It would then become your responsibility to take the title to the Division of Motor Vehicles, pay the new title fee, and any use tax, and have it put in your name. Make sure any liens noted on the face of the title are in fact satisfied as well on the title. You will need the title and a Bill of Sale to take to the DMV. If there is a current lien on the title, the closing would be best done at the lienholder's office, so you could take immediate possession of the clear title.

[Brady Smith]

Thank you, I appreciate the quick answer. It does have a lienholder, but their office is in TN, so it isn't possible to do it at their office, but as far as I know, everything else is straight. We were originally going through a Chattel Mortgage company, but they kept saying one thing and doing another, so we are now going to purchase it outright. Thank you again.

Brady Smith

[rmurray]

I am sure you know that you should not give the seller of the home the money to payoff the lien (I would guess it is with Vanderbilt)...Call the lender and get a current payoff letter....Make a cashiers check out directly to the lender and give a copy to the seller at closing..Send it to them with a return address for the title...This means you will also need powers of attorney from the sellers so that you can sign their name to the title when you get it,,,Be sure the powers of attorney are signed exactly the same as the title..

Good Luck...
p.s....check with the local tax collector and be sure there is no back taxes due on the home...