2nd Nest Homes - General Info for BUYERS



Buying Lease Land vs Real Property A book could be written on this subject. I offer a few guidelines. Lease land homes are NOT LISTED in the local Realtors multiple listing data base (MLS) Lease land homes listed through a mobile home broker rarely allow competing brokerages, or Agents to show their "listed" homes. There is no licensing of individuals/agents selling lease land homes. The mobile home Broker/Dealer has a license issued from the Florida Dept. of Highway Safety and Motor Vehicles Lease land brokerages usually tack on some kind of "administrative fee" from $50. - $300. in addition to the price of the home. Sales tax must be paid on lease land homes. The State of Florida charges a one time fee of (?? $60. PRICE CHANGE 9/1/9) per title to transfer ownership of a mobile home. The State of Florida charges an annual tax based on length of the mobile home. Financed homes have additional charges. Buying directly from an OWNER can reduce the state sales tax by subtracting the $ value of furnishings from the total sales price. A mobile home BROKER or DEALER CANNOT do this! A singlewide home on lease land/rental lot starts at $1,000. & sometimes FREE "handyman" homes are offered from Parks when an owner relinquishes the title in lieu of paying rent. A doublewide home (two titles) on lease land/rental lot starts about $5,000. the year built beginning about 1970 and would have monthly rent starting around $400. as of 2011 and may not include water/sewer/trash ($32. - $60.a month). There are no viewable records of how much a lease land home sold for - no "comps" Florida Statute - FS 723 are the laws governing lease land Parks. Please see http://www.myflorida.com/ A single wide home with real property starts about $12,000. A double wide home with real property starts about $20,000. Title companies or attorneys will give you a written estimate of closing costs. Closing costs include title search/examination/title insurance/County recording fees/transfer of mobile home title(s)/document preparation/closing fee including the Proprietary Lease for Cooperatives. A few Cooperatives charge extra $$ (as much $/close to the total closing costs)for their Association attorney to prepare the Proprietary Lease. The Association transfers the share certificate after the closing but the fee is collected at closing by the title company/attorney. Financed homes have additional charges. Depending on the Association's budget - monthly maintenance fee of around $100. usually including water & sewer in older/established Co-op's. Communities that have gone Co-op in the past few years can be dramatically higher - in the $275 - $300 monthly range and still not include water Homes that include real property have annual property taxes which will be based on what the NEW OWNER pays. Cooperative share ownership is Real Property and can be Homesteaded (RP black background sticker) and may qualify for a $25,000. or $50,000. Homestead Exemption. please see http://www.taxcollector.com/ http://www.manateepao.com/