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For Sale By Owner

What kind of paperwork needs to be signed on a for sale sale by owner purchase? What is the process?

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Nov 30, 2011

I purchased my home from an individual. The mortgage was held by Vanderbilt Mortgage and Finance Inc. (VMF). The procedure was simple in that the purchase was labled "Transfer of Equity" (TOE) which is in fact a loan assumption.
Worked out the price and details with the then owner (i.e. price, down payment, occupancy date.) Inspected home for things to be fixed. Filed application for residence with the land owner. Qualified for my loan assumption (TOE) with the mortgage holder (VMF). established the loan assumption date, purchased home owners insurance (required by VMF)and that was pretty much it. No title search, survey or other fee's.

I agreed with the then owner on down payment would be that portion of property taxes for the last 6 months of the year for my "move in" date of June (property owner of record on 1 Jan is responsible for that years property taxes.)

Feb 26, 2011
how to: sell yourself
by: Support

You will need a typical "Bill of Sale" showing proof that the home is sold, however, you will also need to file the proper paperwork with the State Agency that keeps track of who owns what mobile home in your State. Just do an internet search for your state name and mobile home registration. Then call them or go to their website for the paperwork.

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