MH - Less Value If Not On Permanent Foundation?
Where is the VIN # located on MH's? I have a seller that is extremely motivated and looking to sell. ..but if the house isn't on a permanent foundation - then will it depreciate and if so - why would I buy? Looking for more insight on MH purchases. Thanks.
All mobiles depreciate. They are considered cars by the lending industry. The reason it is a better loan if it is secured to land is that it cant be moved. As it is now it can be moved and foreclosing on it would be expensive as it would have to be tracked down.
Hope that helps,
Kyle