possible 1st deal

I have just got a e-mail from a motivated HO they need to sell their manufactured home . I would like some advise on how to approach it. say it appraises at 180,000. she says that it is payed for 1745 sf house too big and expensive to maintain. needs the money to pay bills and start over. any help would be apprieciated

Need more info.

Location, Acres, etc…

Unless this property is on water or under a few acres that can be rezoned, $180K for a manufactured home is steep in my eyes.


Yeah, this is a little on the vague side. I’d look to see what the real value of the property is (what you can sell it for) and take a percent off the price for a quick sale.

Right now, depending on the market, many properties are appraising for more than their sale prices simply because the past comps were higher a few months ago and the markets are receding. So, an appraised value might not be the best method for valuation.

Mobile homes can be a tricky property type. If they are built before June 15, 1976 they can be very, very tricky to finance (close to impossible). Another thing to be cautious of when seeking financing is that they depreciate mobile homes for insurance purposes if they are past 15 yrs old. This can make it difficult to get the needed insurance coverages for financing, and may result in a lender lowering their total ltv to meet reduced coverages.

In a perfect world, seek to buy a mobile (actually a Manufactured) that is compliant with the 1994 electrical upgrades. Best if it is Manufactured at that date or past.