Home › Forums › Closed Forums › Buying and Selling RE › Offer Accepted on Manufactured Home…Help Please!
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sdrealtor.
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February 16, 2011 at 12:36 PM #18534February 16, 2011 at 1:04 PM #667007
carli
ParticipantYou’ve probably already covered this base, but I’ve heard that many banks don’t offer mortgages on manufactured homes. A friend of ours “built” (or is the right term “assembled”?) a very cool manufactured home in the desert, but when he wanted to sell it a year or two ago, he found that his pool of buyers was pretty small because they’d have to pay cash. He told us that banks aren’t lending on manufactured homes. This info is obviously based on one anecdote, and maybe doesn’t apply to your situation, but is something to check into.
As far as what else to look into regarding manufactured homes in general, I know that there’s been an influx of new manufacturers in the last 10 years or so, and some are turning out well-designed and pretty sophisticated homes. Of course, the quality varies between manufacturers and much will depend on the final finish work and details added.
You should research the manufacturer of this particular home, and also think about chatting with the contractor who assembled it (if not affiliated with the manufacturer) and those who did the finish work, etc. I assume the seller would understand that there may be more questions than usual, given it’s a manufactured home, and hopefully will have this info readily available for you.
Good luck!
February 16, 2011 at 1:04 PM #667068carli
ParticipantYou’ve probably already covered this base, but I’ve heard that many banks don’t offer mortgages on manufactured homes. A friend of ours “built” (or is the right term “assembled”?) a very cool manufactured home in the desert, but when he wanted to sell it a year or two ago, he found that his pool of buyers was pretty small because they’d have to pay cash. He told us that banks aren’t lending on manufactured homes. This info is obviously based on one anecdote, and maybe doesn’t apply to your situation, but is something to check into.
As far as what else to look into regarding manufactured homes in general, I know that there’s been an influx of new manufacturers in the last 10 years or so, and some are turning out well-designed and pretty sophisticated homes. Of course, the quality varies between manufacturers and much will depend on the final finish work and details added.
You should research the manufacturer of this particular home, and also think about chatting with the contractor who assembled it (if not affiliated with the manufacturer) and those who did the finish work, etc. I assume the seller would understand that there may be more questions than usual, given it’s a manufactured home, and hopefully will have this info readily available for you.
Good luck!
February 16, 2011 at 1:04 PM #667812carli
ParticipantYou’ve probably already covered this base, but I’ve heard that many banks don’t offer mortgages on manufactured homes. A friend of ours “built” (or is the right term “assembled”?) a very cool manufactured home in the desert, but when he wanted to sell it a year or two ago, he found that his pool of buyers was pretty small because they’d have to pay cash. He told us that banks aren’t lending on manufactured homes. This info is obviously based on one anecdote, and maybe doesn’t apply to your situation, but is something to check into.
As far as what else to look into regarding manufactured homes in general, I know that there’s been an influx of new manufacturers in the last 10 years or so, and some are turning out well-designed and pretty sophisticated homes. Of course, the quality varies between manufacturers and much will depend on the final finish work and details added.
You should research the manufacturer of this particular home, and also think about chatting with the contractor who assembled it (if not affiliated with the manufacturer) and those who did the finish work, etc. I assume the seller would understand that there may be more questions than usual, given it’s a manufactured home, and hopefully will have this info readily available for you.
Good luck!
February 16, 2011 at 1:04 PM #667674carli
ParticipantYou’ve probably already covered this base, but I’ve heard that many banks don’t offer mortgages on manufactured homes. A friend of ours “built” (or is the right term “assembled”?) a very cool manufactured home in the desert, but when he wanted to sell it a year or two ago, he found that his pool of buyers was pretty small because they’d have to pay cash. He told us that banks aren’t lending on manufactured homes. This info is obviously based on one anecdote, and maybe doesn’t apply to your situation, but is something to check into.
As far as what else to look into regarding manufactured homes in general, I know that there’s been an influx of new manufacturers in the last 10 years or so, and some are turning out well-designed and pretty sophisticated homes. Of course, the quality varies between manufacturers and much will depend on the final finish work and details added.
You should research the manufacturer of this particular home, and also think about chatting with the contractor who assembled it (if not affiliated with the manufacturer) and those who did the finish work, etc. I assume the seller would understand that there may be more questions than usual, given it’s a manufactured home, and hopefully will have this info readily available for you.
Good luck!
February 16, 2011 at 1:04 PM #668154carli
ParticipantYou’ve probably already covered this base, but I’ve heard that many banks don’t offer mortgages on manufactured homes. A friend of ours “built” (or is the right term “assembled”?) a very cool manufactured home in the desert, but when he wanted to sell it a year or two ago, he found that his pool of buyers was pretty small because they’d have to pay cash. He told us that banks aren’t lending on manufactured homes. This info is obviously based on one anecdote, and maybe doesn’t apply to your situation, but is something to check into.
As far as what else to look into regarding manufactured homes in general, I know that there’s been an influx of new manufacturers in the last 10 years or so, and some are turning out well-designed and pretty sophisticated homes. Of course, the quality varies between manufacturers and much will depend on the final finish work and details added.
You should research the manufacturer of this particular home, and also think about chatting with the contractor who assembled it (if not affiliated with the manufacturer) and those who did the finish work, etc. I assume the seller would understand that there may be more questions than usual, given it’s a manufactured home, and hopefully will have this info readily available for you.
Good luck!
February 16, 2011 at 1:41 PM #668174orchid
ParticipantThanks! Our lender (B of A) is re-running our application and going to let us know today if our financing terms will be changing. This is so stressful.
February 16, 2011 at 1:41 PM #667832orchid
ParticipantThanks! Our lender (B of A) is re-running our application and going to let us know today if our financing terms will be changing. This is so stressful.
February 16, 2011 at 1:41 PM #667694orchid
ParticipantThanks! Our lender (B of A) is re-running our application and going to let us know today if our financing terms will be changing. This is so stressful.
February 16, 2011 at 1:41 PM #667087orchid
ParticipantThanks! Our lender (B of A) is re-running our application and going to let us know today if our financing terms will be changing. This is so stressful.
February 16, 2011 at 1:41 PM #667028orchid
ParticipantThanks! Our lender (B of A) is re-running our application and going to let us know today if our financing terms will be changing. This is so stressful.
February 17, 2011 at 7:22 AM #668418JBurkett19
ParticipantThe previous post is correct. The key would be to check out the manufacturer to see if anyone has had problems.
Also, don’t forget that if you have reservations about the buy, you can always back out before you release contingencies.
Try not to stress, things always work out at the same time.
February 17, 2011 at 7:22 AM #667329JBurkett19
ParticipantThe previous post is correct. The key would be to check out the manufacturer to see if anyone has had problems.
Also, don’t forget that if you have reservations about the buy, you can always back out before you release contingencies.
Try not to stress, things always work out at the same time.
February 17, 2011 at 7:22 AM #667267JBurkett19
ParticipantThe previous post is correct. The key would be to check out the manufacturer to see if anyone has had problems.
Also, don’t forget that if you have reservations about the buy, you can always back out before you release contingencies.
Try not to stress, things always work out at the same time.
February 17, 2011 at 7:22 AM #667937JBurkett19
ParticipantThe previous post is correct. The key would be to check out the manufacturer to see if anyone has had problems.
Also, don’t forget that if you have reservations about the buy, you can always back out before you release contingencies.
Try not to stress, things always work out at the same time.
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