Q: Want to owner financing a mobile home in a community park (FYI-has lot rent thus no land) FL, do as Rent to Own or??
Considering owner financing “chattel” a mobile home in a community park with lot rent (thus no land). Location Flagler County Florida.
How do I draw up a contract that keeps parties fairly protected? Likely buyer needs title to insure, get tag/taxes (like a car DMV) and community park.
Is it a rent to own or other contract needed?
A: The easy answer is to see a lawyer. There is no guarantee the landlord would even allow the mobile home to stay on the lot if it's sold. Most mobile home parks have a waiting list and require the mobile home to be moved or at least get a background check and approval.
A:
Your question is "How do I draw up a contract that keeps parties fairly protected? "
Are you the owner or the buyer? Either way, this is not a simple question to answer. A number of factors must be considered. First, is your mobile home a vehicle or a real property? Secondly, what part of payment is rent, what part of payment is for equity? and what are the remedy for breach?
I strongly suggest you not to do it yourself. Ask an attorney to do it for you.
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