Legal Question in Real Estate Law in Florida

Re: repossesed manufactured home

Retain counsel to review all paper work to make sure you are recieving good title. All $ must be held in escrow.

Re: repossesed manufactured home

NOTICE: The information provided in this response is not, nor is it intended to be, legal advice. Many factors contribute to providing legal advice, including the specific facts of a situation. You should consult a competent attorney in your jurisdiction for advice regarding your individual situation. By reading the "Response" to your question or comment, you acknowledge that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then do not read any further.

Hire an attorney to handle the transaction for you. He or she can check title to the home to make sure that it is free and clear of all liens and coordinate with the seller to have the title documents delivered into escrow pending delivery of your payment.

Re: repossesed manufactured home

You could hire an atorney who could close the deal in trust, i.e., no funds distributed until title is obtained.

Re: repossesed manufactured home

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

I have more questions at this point than answers. Are you just buying a manufactured home or the lot it is on too? If the lot is included, do not close unless and until you hire and attorney to do a title search, review the title and issue a title insurance policy. You could be throwing your money away otherwise as there could be other liens against the home that were not properly foreclosed out and will be superior to your claim of title.

Second, are you paying cash or will there be a mortgage? If a mortgage is required, it can take a lender upwards of 45 days to approve a loan and close on it. The lender will require a title insurance commitment prior to the closing and a mortgagee policy after all documents have been recorded.

Third, if anyone tells you to hurry and "get this done" it is time to slow down. What is the rush? What is the Seller trying to hide? What was their interest in the home prior to the foreclosure?

With over 27 years of practice in real estate law, I have never seen a deal that a Seller demands be rushed that is not frought with problems that they are trying to hide. The best advice that I or any attorney can give you is that you need to hire a qualified real estate attorney to review all documents, the title and to represent you in this transaction.

Scott R. Jay, Esq.