A mobile home purchase agreement template will need to include some crucial details of the deal to be a legally binding document.
Step 1 – Tell who the parties are to this agreement. The “Seller” is the person or business selling the mobile home, and the “Buyer” is the person or business buying it.
Step 2 – In the section labeled “Property Address,” insert the address where the mobile home (manufactured home) is located. If there is more than one property being sold as part of this transaction, each property’s address must be listed in this section.
Step 3 – The “Purchase Price” is the amount of money the Buyer has agreed to pay for the Property. In the space provided, insert the purchase price as a whole number (do not include any commas or decimal points).
Step 4 – If there are any down payments being made as part of the mobile home sale, they should be listed in the “Down Payment” section. Down payments for the mobile home can be made in cash, by check, or by credit card. If the Buyer is making a down payment by check, the check should be made out to the Seller.
Step 5 – The “Financing Details” section should be used to list any information about financing that is relevant to this sale. This may include the name of the lender, the loan amount, the interest rate, and the term of the loan.
Step 6 – The “Associated Fees” part would need to specify if there are any fees associated with the purchase that the Buyer will have to pay. For example, for mobile homes located at mobile home parks the Buyer will have to pay an extra fee such as the homeowner’s association fees and a security fee.
Step 7 – In the “Park Approval” section, the agreement should state that for mobile homes that are located in mobile home parks, approval from the park should be obtained before the transaction takes place. Another thing to include is that the parties agree to cooperate in order to get approval from the park. The agreement also has to specify the amount of time after the contract signing for the parties to begin application for getting approval.
Step 8 – The “Sale Date” is the date on which the Buyer and Seller sign this agreement. Insert the date of the sale in mm/dd/yyyy format.
Step 9 – In the “Signatures” section, both the Buyer and the Seller must sign and date this agreement. Each party should also print their name beneath their signature. If there are multiple Buyers or Sellers, each individual must sign and date the agreement.