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  1. #1

    Question Selling an Older Mobile Home As Rent to Own with Lien Placed on Title

    My question involves real estate located in the State of: West Virginia

    I'm selling an older model mobile home to a buyer paying a down-payment and then monthly payments until paid off in full. Per the trailer park rules & regs. the title has to be in the new buyers name to stay on the lot, so I need to place a lien on it.

    What is the best way to legally go about this process to protect us from non-payment? Can I include a clause in a document signed by both parties that states if buyer fails to make on-time payments, they forfeit any funds already paid and are subject to eviction?

    I cannot find any information online about how this process works to create the lien safely and/or how one goes about reclaiming the trailer if the buyer does not pay. Any help is appreciated!

  2. #2
    Join Date
    Mar 2013
    Posts
    16,869

    Default Re: Selling an Older Mobile Home As Rent to Own with Lien Placed on Title

    Sorry, but advising you on the terms and conditions of a purchase contract with the home as security is beyond the scope of this website.

    You are basically putting yourself in the position of a bank similar to lending somebody money to buy a car and naming yourself as lienholder on the buyer's title.

    You can run a google search and you'll come up with sample of that type of contract that you can modify or, better yet, hire a lawyer for a few hundred bucks to draft on for you.

    Even better, understand that if your buyer can't get a loan from a bank, he is a pisspoor credit risk and you are not smarter than the bank that won't lend him the money. When he defaults you'll be back here asking "What are my rights?"

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