Arizona Mobile Home Purchase Agreement
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FAQ
All mobile homes in Arizona are subject to property taxes from January 1st following the day they enter the state. Mobile home property taxes are no different in the taxing system. Per statute, all mobile homes kept in Arizona must be titled with the Arizona State Motor Vehicle Department (MVD).
There are some really nice-looking trailer homes out there! But that doesn't make them a good investment. Mobile homes go down in value as soon as you move in, the same way your car loses value the second you drive it off the lot. Investing in a mobile home is not investing in real estate.
An AzDRE Licensed Broker or Salesperson is allowed to act as an agent for a licensed manufactured home dealer when selling a new or used home in a mobile home park and the licensed dealer is responsible for filing all required paperwork and paying the required fees to ADOH. Arizona Revised Statute § 41-4028(B)(1)(b).
And although mobile homes go down in value and can be difficult to sell, a mobile home is an asset that you can sell when you are ready to move (unlike an apartment you rent).
So, when is the best time to actually buy a mobile home? Midsummer, the week of Thanksgiving, and pretty much any time in December are the opportunities for people shopping for a mobile home to see the least amount of competition.
In Arizona, you have 10 days from when you go under contract on a home to do your due diligence investigations. Should you discover something about the property that you simply cannot live with, you can cancel before this 10-day period expires.
Real estate brokers and salespersons can act in the sale of new or used mobile and manufactured homes, outside mobile home parks, provided that they are affixed to real property and listed in a contract for transfer of an interest in real property executed by its owner. See A.R.S. § 41-4028(B)(1)(a).
Mobile Homes Can Be Tough to Resell Once placed in a mobile home park and hooked up to utilities, mobile homes are not easy to move. In fact, such a move can cost thousands of dollars. This can make them difficult to resell, since a buyer might have to commit to living in the same mobile home park you live in.
The Cons of Living in a Mobile HomeThe stigma. Will people think less of us?It may go down in value. Traditionally, mobile homes have been thought to go down in value, but this hasn't necessarily been the case in recent years.You may have to pay lot rent.Financing is different from a traditional mortgage.26-Jan-2022
Real estate brokers and salespersons can act in the sale of new or used mobile and manufactured homes, outside mobile home parks, provided that they are affixed to real property and listed in a contract for transfer of an interest in real property executed by its owner. See A.R.S. § 41-4028(B)(1)(a).
