Mobile home question
Fluffy-kun
,
Saturday, 7th of August 2010 01:17:28 AM
You can look back at my other question. There is a 30'ish year old Fluffy-kun double-wide for sale (not sure if it is ''pre-HUD'' or not) that has been Registered User completely cased in brick.The brick is surrounding the windows. You could Joined: Friday, 30th of April 2010, 10:54:30 not tell it was ever a double-wide (not saying that it would fool a loan Posts: 1003 company or an appraiser. The man is selling it as a double-wide with Viewed 3964 times ''bricks around the trailer'' anyway, not as a house!) They have added a
roof and the chassis is no longer attached. This was in a 16' x 16'
outbuilding. There is an added carport and concrete driveway as well as a
fairly large front porch. It is sitting on 5.5 acres in a very nice
neighborhood. He is selling it for $70,000, but will take $65,000. />
No trailer jokes please. l wanna know if this would be worth
buying for our first home. It needs new carpet, linoleum, and a lot of
paint. Other things like toilets and new cabinetry as well as countertops
would be nice. We could have it looking very nice. Is it something worth
buying?
l just do not know if it would depreciate the value of the
property. If you realized what it looked like you would understand more. l
know it is basically a trailer in a shell, but it is different. l even
think it looks good and l do not like trailers. l think they are bad when
tornadoes come around, but the way the brick is around it, it is as safe
as any other home.
It does not need a new roof. They have added a
new roof. Not to the top of the trailer, but they've actually built a
regular looking roof with a normal looking pitch. The ''house'' actually
has TWO roofs.
My dad said since it has been bricked around you do
not have to get a tag on it anymore. It is not going anywhere. o.O/>
As for the person trying to say the guy does not own it or
whatever. His brother owned it and died of cancer in October. They are not
trying to hide the fact it is a trailer. The guy openly said in the add
that it was a trailer with bricks around it. Yeah, he is doing a good job
keeping that one a secret. He also showed us the chassis and the ceiling
can not hide the fact it is a mobile home. My parents referred to them as
''mobile home daisies.'' They are what is needed to keep the ceiling up.
Either way, you guys are probably right about not being able
to get a loan for it. Even if it was a house in pretty rough condition on
the inside, l would not wanna mess with it. My parents had to gut a house
and it was not fun and cost a lot more money that my parents are saying
this will take.
Wiggles
,
Sunday, 8th of August 2010 04:47:01 AM
The house is worth basically nothing what you would be buying Wiggles is the land as any lender would see the land value as greater than the Registered User building on it. In which case it will be very difficult to get a Joined: Thursday, 27th of May 2010, 13:01:54 traditional loan as most lenders won't touch a mobile home. If you plan Posts: 1037 to build a house on the land later yes it sounds like a good buy Viewed 9092 times (depending on where it is) but know the building currently on the property
is basically worthless.
Booty
,
Monday, 9th of August 2010 05:04:50 PM
Decorating the outside does not change what it is. You are Booty going to have a hard time getting that thing financed. It is not worth Registered User anything. Joined: Sunday, 9th of May 2010, 19:59:33 Posts: 2057 Viewed 2384 times The land has value though, so you need to base ur decision on that. You
may have to remove the mobile though, because it will not be insurable.
You might also talk toyour life insurance company & make sure they will
still cover you. This sounds seriously unsafe. The bricks have nothing
to support them & are more of a threat then anything. I would have
serious concerns over the safety of the walls & ceiling not making it
though a storm as there isn't a real frame to hold them up. Just making
it look nice will not mean it is not a death trap.
Tuna
,
Tuesday, 10th of August 2010 09:58:11 PM
It sounds nice!~ Tuna Registered User Although it could be very affordable for you, financing may be the Joined: Sunday, 18th of April 2010, 13:17:32 problem. Posts: 384 Manuf. Homes built before June 1976 do not qualify for FNMA loans, which Viewed 12384 times are at decent rates, IF you can qualify.
It will also need to be on a permanent foundation (known as a 433) &
recorded.
There may be some other options for you, but rates will be higher,
possibly 10% or more.
It still may work out to a reasonable payment for you.
You need to call local manuf Home agents, they know where the financing
is.
You can fix it up as time goes on. If it is made decent, you will always
be able to rent it, just realize that it may be hard for you to sell if
you ever want to.
Have you asked the seller if he will finance it for you ??
Do you have a down payment ?
Get an appraisal if seller will carry. You will need one for a loan too.
Babs!
,
Wednesday, 11th of August 2010 06:05:24 PM
It would not be worth buying because all the work & additions Babs! done to it may have not been permitted in the first place. Since it is a Registered User mobile home, it is not considered real property & would have to be Joined: Monday, 7th of June 2010, 04:45:01 registered with the department of motor vehicles or the bureau of motor Posts: 551 vehicles. Viewed 8832 times
The first red flag is the redbrick encasement (meaning the mobile home is
probably falling apart). You could not get a loan or a true appraisal
which will only hurt you.
Why does he need to hide the mobile home? It may not even belong to him.
The added carport probably wasn't permitted, & the concrete driveway &
front porch is not permitted either.
I would tell you to ask the owner for proof of ownership (current title,
current registration) check back of trailer (must be attached).
He could have just parked the mobilehome on the 5.5 acres. He must also
hold title to the land. Call a title company & ask them for a property
profile because you need to verify that the owner of the said property is
also owner of the mobilehome(check with the DMV or BMV)
I am sorry to be so negative, but since you are first time home buyers I
want you to be happy with ur decision & also not to be taken advantage of.
Daisybaby
,
Thursday, 12th of August 2010 05:01:58 PM
I would say no.. it all sounds ok but i have looked into these Daisybaby manufactured homes new and old.My dad is a real estate broker, and this is Registered User a 25 to 30 year old home that I am sure will need flooring an wall and roof Joined: Monday, 24th of May 2010, 17:41:38 replacing. no jokes. Modular homes are build more to house spec. But still Posts: 1876 not the best. Viewed 1689 times
Musica
,
Friday, 13th of August 2010 05:21:10 PM
What are the land values in the neighborhood? Even without the Musica mobile home, you are looking at $11,818/acre, which is a bit of a bargain Registered User in most places. If I were you, I'd buy it, move in or rent it out, and Joined: Saturday, 12th of June 2010, 00:35:25 build a better house before removing the mobile home (which lowers the Posts: 1414 value of the property). In the long run, you will profit very nicely. Viewed 8177 times
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