Closing Your Manufactured Home Purchase
I'm under contract to buy. What do I do now?
Congratulations on getting your offer accepted. You will be glad you have all your loan approval work done because there is still much to do. Now you can focus on your new home and getting closed and moved.
Inspections - We recommend at least two independent home inspections.
A quality home inspection is a valuable tool in any home purchase. You home inspector will look at all the physical aspects of your home in an unbiased manner.
Older homes that have not had regular termite treatment should always be inspected for termites. We recommend a termite inspection on every home. Termite damage is usually unseen and sellers may not be aware of the problem. Typically when presence of termites is found, a subsurface treatment is all that is needed. However; fumigation and repairs can be required in more severe circumstances
It's important for buyers to know that sellers are not required to complete any repairs, including termite. Costly repairs usually require a re-look at your purchase agreement, but unless there is a code violation, sellers are often reluctant to complete repairs they believe are "picky."
Loan Processing and Escrow
We start closing as soon as you find a home. Our in house escrow company, In Park Services, provides full buyer's and seller's escrow services. It's important that numbers are accurate transparent to everyone involved. We get escrow involved early and make sure you you understand all costs associated with your transaction.
Manufactured home closings are different than traditional real estate closings. Mobile home closings require the financial disclosures of traditional escrow; however, sales are not recorded by deed at the county. Mobile home sales are titled through the State of California Department of Housing and Community Development. This is the only type of escrow we offer, but for many escrow companies is "something else" they do. It's a priority for us and we're really good at it.
Real estate closings for land and home closings and construction loans are handled by the lender. It's even more important that you be ready early.
Simple, Uncomplicated Closing
When it's time to close, we've already done the heavy lifting (except for your movers.) Documents, titling and other closing documents are managed by escrow for a smooth closing.