A house divided

[Rudy Tomlin]

What is the name of your state? North Carolina
Hello everyone,
Here's my situation: Am interested in buying a double wide mobile home. Upon calling the realtor, I discovered there are some "property issues" with it, namely it's sitting right in the middle of 2 parcels of land. The previous owner had both at the time, used one with the mortgage, left the other one off. The place went into foreclosure a year ago, and he still owns one of the parcels. The realtor had a survey done, and just found this out recently. Realtor is telling me if I'm interested, go to the owner with an offer for the parcel contingent on buying the house. Sounds ok, but if the mortgage company has any recourse on this matter, shouldn't I let them do whatever they have to first? Just trying to see what is the best way to go before I make an offer.

Thanks, Rudy

 

[FlyingRon]

You're treading on dangerous ground here. I assume you mean by "middle of two" parcels you mean it is straddling both parcels. You have two people to deal with here, the original (and current owner) of one parcel and the bank or whoever purchased at foreclosure the other. The fact that an improvement spans both parcels, it's even more muddied. Unless you are prepared to buy both parcels (with a contingent offer on you being able to buy both) from their respective owners, you're going to have to be prepared to move that home if you buy it. Even then, you better be sure you know who really owns it. The forecloser may have rights to it.

 

[HomeGuru]

What is the name of your state? North Carolina
Hello everyone,
Here's my situation: Am interested in buying a double wide mobile home. Upon calling the realtor, I discovered there are some "property issues" with it, namely it's sitting right in the middle of 2 parcels of land. The previous owner had both at the time, used one with the mortgage, left the other one off. The place went into foreclosure a year ago, and he still owns one of the parcels. The realtor had a survey done, and just found this out recently. Realtor is telling me if I'm interested, go to the owner with an offer for the parcel contingent on buying the house. Sounds ok, but if the mortgage company has any recourse on this matter, shouldn't I let them do whatever they have to first? Just trying to see what is the best way to go before I make an offer.

Thanks, Rudy

**A: find another property to buy.