I have info on a singlewide on almost 2 acres in the country. There’s a 2 car detached garage. It’s pretty dumpy to be honest. It has a slanted shingle roof that appears to be cobbled onto the trailer. Brown kitchen, with avocado appliances. 1400 sq feet.
There’s a big note on my info “Buyer Beware - Home has no data plate. Financing May be difficult” And the terms are cash. Assess value for land is spot on, but there’s no way the improvements are worth what the county is saying - nevertheless, asking price is about 45% under the total assess value.
I can get the cash easy, but from a flip standpoint I have to ask myself if buyers will be able to finance to buy from me?
Any comments appreciated.
Jeff
You have the awnser, if you have that much doubt about the deal, then its not a deal at all, walk away from it…
If you can do it cash can you owner finance it? We’re not talking about a ton of money so maybe some sort of short term financing.
If you have access to the inside of the house try looking on the inside of the cabinet doors most likely in the kitchen and possibly in the baths. What you are looking for are known as the hud label numbers that should be on a small metal plate posted on the rear of the house on the outside usually on the lower left hand corner of the rear of the house possibly the lower right depending on were the house was manufactured. If the number is not on the outside of the home there should be a label posted on the inside of one of the cabinets as I stated above.
If you are unable to locate the number in any of the above noted locations the title to the home will most definitely have the numbers you are looking for and the county records may have the numbers.
If you are unable to obtain the numbers from any of the sources I mentioned above and the land is any account at all buy the property and sell the mobile home as junk for whatever you can get out of it.
Use what I have told you here and this should enable you to get a deeper discount on the property.
Whoever buys the mobile home as junk tell the buyer they MUST haul the house away at their own expense then buy a repo’d home to put on the land then sell. I assure you a repo’d home will have the HUD numbers on the house and most definitely on the title.