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Buying an Off the Market Floating Home

Posted by admin on April 26, 2018
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A client of ours from years past, who has bought and sold property with us before, had an amazing opportunity to purchase a floating home off of the market and couldn’t pass it up so he reached out and we got it going.

Floating home sales are very different from traditional home sales as they require specific lender, Escrow Company and paperwork. Everything involved has a bit of twist to it! When this opportunity came up we were excited to be a part of it. First thing was to have the buyer get pre-approved with one of the few lenders who will lend on a floating home. Then it was time to write up the floating home specific purchase and sale documents. Here are a few more differentiators when it comes to floating homes: the ownership can be co-op or condominium, your inspector wears scuba gear and there is no title insurance policy. Just more things to understand and confirm. Once the Contract was signed around we moved on through the lending process and on to a smooth closing.

Enjoy living lake side Matt!