Question: How do I deal with an offer on a rented lot?
Answer: You can use the REPC for the purchase, however the home would technically be considered “Personal property”, so some terms and conditions in the contract will not apply. If a listing, you can select “Mobile Home Rented Lot” as your selection in MLS. However if it’s a normal style home on a rented or long term leased property, you would have to use the “Single Family” listing class, and explain the lease terms in the “Remarks” section of the listing. The Title Co. can assist with a closing, or formal signing. However there will be no Title Insurance issued as this is not Real Property being purchased. A Bill of Sale will be issued conveying Title to the home and an assumption of the land lease will be required, or a completely new lease with new Buyer.