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Foreclosure/Manufactured home

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Question
My dad bought a park reclaimed home for 1000$. Found out later there are about 10k in back taxes. The place was a disaster, he dumped about 18k into it when he learned of the back taxes. He wants out. Priced it just to cover the back taxes...no ones buying these things PLUS the park has the highest rent and there are no amenities whatsoever. If dad walks away and let's whoever the tax people are take it, what happens regarding the lot rent? It'll take some time until the county takes it and even if they do is dad still obligated for lot rent? If he doesn't pay what can the park do? Any thoughts or suggestions would be greatly appreciated.

Answer
Hi Kristen,

Unfortunately, that is the nature with mobile or manufactured homes. Your dad will be responsible for the lot rent as long as his trailer is there. As long as the trailer is on that property, the owner of the property has a right to sue your dad for any back rents if he doesn't pay. That's why the trailer was only $1000 to begin with. So your dad can move the trailer and take it to the dump if he wants, or he can leave it there and rent it or do a rent to won scenario and get someone else to pay for it that wants to live there. A moblie home park is a great investment for those who own the park, those who rent usually get the raw end of the deal in my opinion.

Your dads best bet is to remove the trailer and put it on a piece of land or move it to a different park, or try and sell it or give it away to someone who is willing to pay to be there.

I hope that this helps.

Many people who have purchased time shares feel the same way! STUCK.

I am happy to help if I can.

Thanks
Brian

Foreclosure

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Brian Pitcher

Expertise

I can answer all questions in regards to short sales, strategic default, foreclosures, loan modifications, and most questions regarding real estate law.

Experience

I have closed well over 100 short sales in the past 3 years and that is the work we primarily do. We teach people how to keep their home if they can or how to bail on it in the best possible way without any recourse. I have taught many public seminars to accountants, loan mod counselors, attorney's and also many other real estate agents all over the country. I also know how to deal with the very tough second mortgages in the negotiations as well as mechanic liens and default judgements.

Education/Credentials
I have a bachelors in Spanish with a minor in Economics from the University of Utah. I have also been a Realtor for 8 years closing well over 200 transactions. I am a KW instructor for Short Sales and Foreclosures.

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