[syphon101]

My question involves real estate located in the State of: Michigan

So here is my issue. I'm getting a loan on a manufactured home from a family member. The family member leaves soon, so there is very little time to buy it.

The person that owns the home ( trailer ) is still waiting for the bank to dig up the title. Supposedly the bank has been bought out, and now does not know the current location of the title.

The home owner claims that we can do all the closing stuff now, as in pay her and fill out whatever paperwork their may be ( Which I have no idea what that is ) and then we can apply for a new title from Secretary of the State.

Is this safe ? Or should I not buy without the title being there?

[ballengerb1]

If you don't get the title you didn't buy the home, you just transferred money. The purchase doesn't happen until the bank releases their lien and puts your name of it. Do not do it.

[Fr_Chuck]

No, no and no, unless you transfer the title, you did not buy it.

What you need to do, have them get the replacement title, it will go to the bank, And at closing you will have one check to go to the bank, ( to pay them off) and any additional money with a check to this person,

If you merely give him money and they don't pay the bank, or you never get a title, you don't owe it.

And if they are trying to rush it, don't, They can get a title by mail in time, and the closing can be done by registered or over night mail.

[syphon101]

So pretty much, This is how I want to handle it ?

Wait for the replacement title to come.

Me and the home owner meet at the bank, an I pay off the lien and whatever is owed to her.

Then, she signs over the title or the bank signs it over ?

Also, How would I go about doing all this over mail, How can I prove to my family member the title is here an legit so they can write me a check? When they are on the other side of the country.