Just like renting and buying single-detached home units, acquiring mobile homes require the renter several documents, especially the bill of sale form. In mobile communities such as the Florence Commons in Nashville, Tennessee, a bill of form is especially necessary to keep track of all the renters of the homes in such a large community. If you are interested in investing or buying a mobile home, make sure to continue reading this article. Read More
A bill of sale form is foolproof evidence of a previous transaction. It is a stand-alone legal document that can hold up when presented in court. This form documents the fundamental details of the transaction. Starting from the details of the parties involved, it also records the specifics of the item and the subsequent terms and conditions for the success of the transaction. A mobile home bill of sale, in particular, gathers the specifications of the mobile home, such as its total area and location. This form also comes in handy to protect both parties if, in case disagreements arise between the parties.
How Do You Create a Mobile Home Bill of Sale Form?
Creating a bill of sale form is quite easy. You need to have the basic details of the transaction and relay the conditions of the matter in an orderly manner. Tackle each central point one by one, starting from the parties up until the governing laws. It may extend if your state requires notarization of the bill. Here are some major points to follow and a handful of tips to create a tailor-fit bill of sale for your mobile home purchase.
1. Know the Parties
The first block of any bill of sale form is the presentation of the parties involved in the sale. All forms generally ask for the legal names of the parties and their respective mailing addresses. The addresses are necessary for any subsequent notices the other party sends after the meeting of the representative of both. This stipulation ends on a note that these parties agree to undergo and follow through with the transaction detailed below.
2. Introduce the Item’s Specifications
When likened to a person’s train of thought, the question after knowing the parties will be what is the item in question. Therefore, it is right to present the specifications of the item next. Several details need to be reflected on the form to pinpoint a particular mobile home. It requires the manufacturer of the repurposed container that becomes the mobile home. Along with this information, the model, serial number, and year of manufacturing are also required. Apart from these specific details, including the total space and a location. The location pertains to where the seller would transfer the mobile home once its construction is completed. It will be the residential address of the home buyer.
3. Break down the Payment Arrangement
Once the details mentioned above are finalized, the next piece of information to comply with is the total purchase price. The price is introduced in a statement similar to this, “The Seller agrees to sell the mobile home for a particular price, and the Buyer agrees.” This statement may be worded differently in the different variations of the form, but it will maintain its message. Other payment arrangements, such as down payments or preferred payment methods, can be added to the legal document as two separate addenda to customize the form further.
4. State the Current Condition of the Mobile Home
In the claims stipulation of the form, the seller claims that the item sold does not have any outstanding liability in any form. It is also a valid statement claiming that the seller is the legal owner of the item and, therefore, has all the rights to sell the said property. Talks about the condition of the property should be in this statement. It claims that the buyer agrees to buy the item in its current or as-is condition. Thus, it is the responsibility of the seller to come clean regarding the condition of the mobile home. Details of all known damages must be reflected on the form. If not, the buyer can use the form as evidence that the seller was untruthful during the sale and can demand monetary damages for the inconvenience caused.
5. Check the Need for Notarization
When you follow steps one through four, your form is now almost complete. What it lacks now are the specimen signatures from both parties. It may also require signatures from witnesses and a notary public when required by state and federal laws. So, it is the responsibility of both parties to double-check if witnesses and notarization are needed. If, in case, notarization is necessary, make sure to stand witness before the notary public before signing the signature. The premature signing of the document may cost the effectiveness of the form.
Frequently Asked Questions
Is a mobile home a good investment?
Generally, one can say that a mobile home is an excellent investment because of its lesser costs. Its fee per square foot is significantly less than the fee for stick-built homes. Another advantage of mobile homes is that processing for homeownership is easier.
How is a modular home different from a mobile home?
Modular homes or buildings are prefabricated buildings or houses that consist of repeated segments called modules. Modular buildings are built away from the actual site and then transported them to the actual building site. On the other hand, mobile homes are also prefabricated, built-in factory sites, before transported on site.
What is a mobile home’s difference from a manufactured home?
Like a mobile home, a manufactured home is also built-in factory sites and then transported to the site. The main difference is that a mobile home is permanently attached to a chassis before its transfer to the actual site.
Are mobile homes suitable for permanent residency?
Mobile homes are perfectly suitable for permanent residence, given that you have chosen the perfect location that you are willing to live in for the rest of your life.
Do all mobile homes need to have wheels?
Mobile homes do not need wheels to be considered as mobile homes. Wheels are necessary for their transfer, but it can be removed after the transport.
Each person has an innate right to a stable and safe home. So, regardless of its size, shape, and material, a house can be a home. Mobile homes, in particular, appeal to low income generating families because of its, likewise, low costs. Buying and selling mobile homes are similar to buying and selling different types of real estate in the sense that both parties need to process several documents to record and validate the transaction. As long as people have the intention to engage in purchase transactions of real estate, a mobile bill of sale form will remain to be necessary.