I need to sell my mobile home and the couple that wants to buy, can not get a loan. How can I sell it to them if it has a mortgage? They will just be taking over payments. I do have the title
Don’t sell it to them privately if they can’t get a regular loan. If they can’t qualify, you won’t be able to transfer the mortgage to them. If they can’t get a loan, are you going to trust them to make YOUR payments or pay rent on time? Don’t be crazy. You’ll lose the mobile home, and have a foreclosure on YOUR record. Wait till a real buyer comes along. They very well may be trying to rip you off.
And for God’s sake don’t sign the title over to them without them paying off the mortgage. If they ask for this, they are DEFINITELY tyring to rip you off.
I own a mobile home and want to purchase a new home before April 30th 2010. For the $8000 tax credit purpose, am I qulified for $8000 tax credit?
If you already own a mobile home…you would not qualify for the credit on another mobile home. You may qualify for a "move up" credit if you plan to use the new mobile home as your primary residence for the next 3 years.
Also….the credit is not really 8K…unless the mobile home is $80,000.00 or above. You only get back 10 % of the purchase price if it’s less.
The mobile home would be paid for in cash. The buyer would not be owning the land, only the trailer. Buyer would be renting the land from the trailer park.
If you know this answer, if you could let me know how you know this answer Thanks
Buyer would be responsible for real estate tax.
The buyer would be purchasing directly from the current owner with cash and would be responsible for the real estate taxes for the rest of the year. There are real estate taxes on mobile homes that are on a rented property.
The tax lady – thank you for pointing me in the right direction. I will let my friend’s daughter know that she will be able to get a credit. I am unsure how a credit works, as I was under the impression it was a refund, but it’s a start.
Can you SLEEP in the trailer?
Can you COOK in the trailer?
Can you go to the BATHROOM in the trailer?
Then it’s a REAL home.
Sheesh, it is too qualified. In fact, it’s clearly SPELLED out in the instructions to form 5405!
From the IRS Questions and Answers:
. Is a taxpayer who purchases a mobile home and places the home on leased land eligible for the first-time homebuyer credit?
A. Yes. A mobile home may qualify as a principal residence and it is ***NOT*** necessary that the taxpayer own the land to qualify for the first-time homebuyer credit.
Who covers the warranty O2 or the manufacturer and how do you carry the warranty over?
The cell phone manufacturer is the one who will take are of the warranty. Which is why, when a phone break, the network provider doesn’t deal much with the warranty if the phone is defective, they just refer you to the store to send the phone in for repair.
So theorically, yes, the ebay buyer should get the warranty, although…
He will need the receipt of the phone.
Sometimes, stores will not take in phones that were purchased by in another store because most stores are independant dealers of the franchise, so you might want to inquire about it first. Call your store and ask them that you are moving away and if the phone breaks, can you take it in a similar store in your new location and see what they say about that.
Hope this helped,
-D
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Nokia E71 (Straight Talk)
Thanks for your order item ships within 1-2 days of payment received. Do you agree to contact me if any problems occur once you receive the phone before leaving negative feedback or opening a case against me? I Work with my buyers to make them 100% satisfied. phone is brand new clean imei never activated comes with 1 year straight talk warranty which is simple to exchange with them if any problems…
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I owned an old mobile home in a rental park. Sold it and about a year later purchased a traditional home. I have found controversy as to whether this mobile home being on property I did not own counts against me for the first time home-buyers tax credit. (My new home was purchased in May 09′ so does not qualify for long term residence tax credit) I know 5405 states a new mobile home can qualify for tax credit even on rental property, do I assume the reverse is true and this would disqualify me for new home-buyers tax credit. It is a lot of $ to make assumptions.
I have had some tell me a mobile home in a park is not real-estate, it is personal property, I have 2 different tax preparers trying to figure this out also. Called IRS waited 39 min. to talk to someone then I ran out of time!
Sorry, but you owned your main home less than 3 years prior to buying the conventional home in May of 2009. That disqualifies you from the credit. The fact that you didn’t own the land that it sat on is irrelevant. The fact that the local tax authorities tax it as personal property (usually as a motor vehicle) is also irrelevant.