A manufactured or mobile home bill of sale is an official document that confirms and provides the details of the trade of a home or transfer of property ownership from one person to another.
The details of the seller, the buyer, and the manufactured home that is to be sold are written on an already printed piece of paper that acts as a template bill of sale.
The term ‘bill’ is used because the document serves the purpose of a bill of the property. It ensures a legal purchase from the seller and finalizes the transfer of ownership.
What Is a Mobile Home Bill of Sale?
A mobile home bill of sale is a legal form/bill that integrates a paper transaction record to the official sale/purchase of a manufactured home.
The document provides the necessary information of the house (overall covered area, number of floors and bedrooms, etc.), the seller and the purchaser, and acts as a proof of transfer of ownership over an already agreed monetary sum.
In all countries of the world, the transaction process and transfer of ownership must be documented in a legal paper so that future problems and risks might be avoided.
This mobile home form provides a legal document that ensures ownership, a successful deal, and the transaction process – all things in one piece of paper.
How to Sell a Mobile Home?
The process of selling a home is elaborated in the following steps:
Step 1: Understand mobile home selling market
The first thing about selling the mobile home is that the seller must know about the market value of the mobile home he owns, i.e., whether the mobile home he is offering for sale is more attractive than any other in the park, or less expensive than any other mobile home for sale in the park.
Step 2: Advertise to find purchasers
The seller should advertise his home on different platforms. The platforms he can use are online, newspapers, advertisement boards, or wall-posters.
Step 3: Negotiate the terms with the buyer
After a buyer has developed a liking in the home, both should sit together and negotiate the terms of the agreement. These include security deposit for inspection, price of the mobile home, and ways of payment (either in the form of installments or a full-cash deposit).
Once the terms have decided, the agreement is signed, and both parties may proceed.
Step 4: Inspection by the Client
The buyer comes for inspection of the home on a pre-decided date. It is for buyer’s satisfaction regarding the house. Some sellers demand a security deposit prior to inspection by the client.
Step 5: Preparation of Closing Documents
The seller prepares all those documents required for the complete transfer of ownership of the home. These forms include registration documents of home, seller’s information sheet, mobile bill of sale, and permission note (if the house is built on government property, e.g., on a park).
The parties will be required to authorize the mobile home bill with the seller signing over the title and thus transferring the ownership to the buyer.
At the same time, the buyer will pay the price of the home to the seller. This whole process is done in the presence of a legal advisor and two or three witnesses for a safe deal.
Step 6: Registration of Mobile Home
This step is for the buyer; after the transfer, he goes to the local property registration office and gets his home registered. If the home came without the land on which it’s standing, it would be treated like a transferrable or removable asset.
What Are the Components of Mobile Home Bill of Sale?
The following are the important components should be included in mobile home bill of sale:
Specifications of Seller and Buyer:
The first portion includes the necessary details of the seller and buyer. The details include complete names, contact info, and addresses of both.
The very next section includes the purchase price of the home, the amount paid on the day of the deal, the remaining price and due date (if the installments method is decided), and payment methods.
Specifications of the mobile home
The details of the mobile home, that’s to be sold, are provided in the next block. The manufacturer information, model number, serial number, size, year manufactured, the current location of the home, and inside details of the house are written by the seller.
Additional information regarding furniture, fixtures, and equipment left (that are included in the deal) is provided in the form of a paragraph. Nowadays, modern templates of sale’s bill include this section as most sellers sell the equipment and goods along with the home itself.
The information regarding unpaid taxes, the damage present in any part to the house, that the buyer is unaware of is also written in this part (if it is pre-decided in agreement).
It includes a statement from the buyer that he, according to his own will, has purchased the house for the pre-decided price, along with his signatures.
It also includes the date of transaction and signatures of the seller, buyer, legal advisor, and witnesses as well. This part, thus, concludes the deal.
The mobile home bill of sale acts as a contract, and a proof that the seller has no longer to do with the home and the respective property now belongs to its new owner.
Incorporating this bill is an effective way to produce a physical record of the transaction serving as sufficient proof of the purchase. Moreover, it also acts as support evidence of purchase price for consideration of taxes.
CocoSign provides a great variety of bill forms for the sale of a manufactured home, depending upon the type of property to be sold, with free access to download, print, and save any customize template they want.