No Clue About Mobile Homes...need Some Helop
Seller called me and told me that she has:
Mobile Home/Trailer 14 x 70, brand new carpet, bath tub, house size water heater, 1980 liberty. All they want is $2500 and it is a Town & Country mobile home.
Now humor me and please tell me what type of options I have and how I can figure out if this is a good deal or not. Plus what scenarios are available to me to make money in a situation like this...again, I know nothing of buying them, etc.
Thanks,
The Solutions Kid
[addsig]
Does it have to be moved? Do you have a place to put it? Yeah, that's a pretty good deal, although I'd offr $1500.00 to start
Good Luck,
Shawn(OH)
The down side is if its in a park... lot rent and tenant or buyer qualifying under their standards... offer the 1500 as above and sell with owner financing with 1500 down...
Check for lot rent or any late fees that are owed.
I would ask the seller if thats the best she can do...maybe they will come down a little lower. It's best to let the seller name the lower price than you do. They will feel like they have made the final decission.
Before you buy, I would check with the park to see if it has to be moved and what are their procedure for new owner/tenants. If you don't have to move it, I would run an ad with the heading "WILL FINANCE" (give the size if you want)
When the phone starts ringing - they will most likely ask how much down and how much will their payments be per month. I would ask them how much do they have to put down - let them name it. ($1500 down might be to steep for some) you want it to be as affordable as possible. More like $500 down at 30-36 months for a rate of 12.75% (most people don't care about rate, they are more interested in monthly payment, especially if they are low.
When they ask how much a month, ask them how much can they afford...just say everything is negotiable if reasonable....Let the buyer name what the can spend, most likely it may be more than what you wanted. If they offer less than you wanted, tell them you were looking for a little more -down or per/month -
Hoped that helped~