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Old 02-12-2013, 01:56 PM
barry12345 barry12345 is offline
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Join Date: Oct 2012
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Quote:
Originally Posted by R Leo View Post
I have a manufactured home that need to sell and move off of my property. Lots of prospective buyers but nobody with enough cash to do the deal outright so, I may have to carry the paper.

Even if they make a substantial down payment, I want to make sure that I'm covered if they decide to default on the loan.

Is there any sort of insurance that deals with this?
I thought in general credit was still fairly easy for the majority of the population. I would want clear of it as the dwelling is not tied to any specific piece of property once removed. Or there would have to be some pre existing paper tying it to one somehow.

Much like selling a house trailer perhaps. If damaged during the move would they walk and leave you holding the bag? What if the lot it was placed on came under duress?

I do not think there will be any form of affordable insurance to cover all the potential risks in your situation. Could be very wrong though.

Any resultant legal action would come to you as the purchasers would have nothing basically. Especially if they cannot at least finance what you are selling. I can see the average lender not being estatic about it either.
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