Buyer Questions
Q: How do I buy a pre-owned or foreclosed mobile home from Mobile Housing of Texas?
A: When you find a mobile home currently listed on our inventory list that you like, contact us and we will show you the property. Most of our properties are “BUY NOW” properties and can be purchased for the price listed others are auction homes that we will submit a bid on your behalf to the bank. If the bid is accepted, we will help you complete all the necessary paperwork for the purchase.
Q: Where are all of your used and foreclosed mobile homes located?
A: Our mobile homes are located in Houston or within about a 100 mile radius of downtown. The mobile homes are either located on land or in a mobile home park. When you find one that you would like to see, we will meet you at the property and view it together. Homes can be moved to your lot/land or they can stay where they are once you sign a new lease with the mobile home park or landlord.
Q: Why can't I buy foreclosed mobile homes directly from the bank?
A: Texas law requires title holders of foreclosed mobile homes to sell their properties through a licensed retailer. Banks are not allowed to sell foreclosed mobile homes directly to the public, but you can buy them directly from us.
Q: Once I submit bid on a foreclosed home, how long does it take to hear from the bank?
A: After a bid is submitted to the bank, it usually takes up to 48 hours to receive an answer. This time frame is the normal waiting period, but is not guaranteed and can take longer. If a foreclosed mobile home is fairly new on the market, they might wait for multiple bids before accepting one. This does not apply to most of our homes, which are “BUY NOW” pricing.
Q: What is the good faith deposit and how does it work?
A: Mobile Housing of Texas requires a $2000 good faith deposit, to make an offer to the bank on your behalf for a foreclosed mobile home or to hold one of our “BUY NOW” homes until you can get the remainder of the funds to our company. If your offer is accepted by the bank, the $2000 deposit is applied towards the final purchase price. If your offer is not accepted by the bank, the $2000 deposit is returned to you or you may apply it to another home. We accept cash, cashiers checks, or money orders for deposits.
Q: Why does Mobile Housing of Texas require a good faith deposit?
A: We require the good faith deposit to ensure that the buyer is serious about the bid or offer. We have developed special relationships with banks and try to avoid making bids for customers who have no intention of actually following through with the purchase if their offer is accepted & in some cases we are required to buy the home whether you do or not.
Q: After a bid is accepted, how long until I can take possession of the home?
A: After a bid or “BUY NOW” price is accepted, you have 48 hours to make payment in full to Mobile Housing of Texas by cash, cashier’s check, money order or wire. Then we will wire the money directly to the bank that holds the lien against the home if it was a home you bid on or if the home was a "BUY NOW" price the home is yours immediately! Once we receive payment from you, you may take possession of the home immediately.
Q: Is there a warranty on foreclosed mobile homes?
A: Yes. All mobile homes come with a 60 day warranty from the date of purchase that guarantees: there is no defect or deterioration in or damage to the home that creates a dangerous situation; the plumbing, heating, and electrical systems are in safe working order; the walls, floor, and roof are free from a substantial opening that was not designed and structurally sound; and all exterior doors and windows are in place and operate properly. Extended warranty's are available for purchase that will extend your protection for year to come!
Q: Who pays currenty year property taxes and old tax liens?
A: Mobile Housing of Texas will make sure all taxes owed whether it is for the current year, past years, and all tax liens prior to transferring title/SOL into your name.
Q: Who makes sure that all property liens are cleared?
A: Mobile Housing of Texas ensures that all loans liens are cleared prior to title/SOL transfer into your name, you will never be liable for any outstanding liens against the title/SOL.