Most mobile homes, also known as manufactured homes, are registered with the State of California Department of Housing and Community Development (HCD). Sepulveda Escrow draws escrow instructions between the Seller and Buyer as to the terms of the sale of the mobile home, in addition to drawing and processing all HCD documents required to facilitate the transfer of ownership to the new Buyer.
The Buyer receives a Certificate of Title and Registration Card as proof of ownership. Loan financing is available upon the purchase of a mobile home. The new Lender will show as the Legal Owner on the Certificate of Title. Buyers obtaining loan financing should contact specific lenders specializing in mobile homes, as most commercial lenders do not make mobile home loans. In the event the Seller shall carry the loan for the Buyer, Sepulveda Escrow can draw the necessary documentation to protect the Seller's interest in and to the mobile home.
Mobile homes manufactured today are placed on the tax roll, with the payment of annual property taxes, similar to property tax bills on real estate. However, there are some older units that are not on the tax roll. For these, the buyer would pay sales tax on the “Blue Book” value through the escrow.
Please keep in mind that it is always best for the Buyer to obtain Approval from the Mobile Home Park before opening escrow. Mobile home parks have different qualification standards for approving new tenants. Some parks have age and pet restrictions, so it is best to check with each park office.