Can I sell a mobile home, rented lot, that I owe a bank on?

I have a mobile home in a mobile home park in Florida. I've owned it for 3+ years. Work has carried me to North Alabama. I still owe $14k on the mobile home. The local economy where the MH is located is pretty rough right now and banks aren't lending on double-wides that aren't on their own property. I have potential buyers but they want me to owner finance. I'm okay with that since, after 18 months of carrying this place without living in it, I'm ready for anyone to take over the lot rent and help me pay the loan off. I'll selling for market value which is double the loan balance. I can't find anyone that can offer a large enough down payment that would pay off the loan and put the titles (two for a double wide) in my hands. I've tried to hire lawyers to advise me on this and help draw up an owner finance contract if I'm able to sell it this way... but they are all busy pursuing higher paying clients. Can anyone advise me as to if I can legally sell the home without first paying off the loan (with MH as collateral)? Or do I need to hold the titles to the MH lien-free before I can legally 'owner finance' the place? If I CAN sell it via owner finance, what form of paperwork I do need? I know most any contract that's drawn up and signed in front of a notary is pretty much respected in a courtroom. I have a buyer who wants to put down $6000 but wants to take advantage of the tax-credit and wants the home in her name. I don't even know if her requests are even possible. Any advice is appreciated. Sorry for the long-winded question. Complicated.

2 months ago - 2 answers