OfflineHello My DG family,
I found a FSBO last 2 weeks ago. This property is a mobile home 2/2 and she was asking $4,000. The property needs repairs of $2,000 (kitchen roof leaking) she awes 3,300 on the roof done which wasn't paid off. Seller motivated: she is sick and the property is vacant.
Actually, this would be my first time making an offer on a mobile house and I wanted to use the regular SALE AND PURCHASE CONTRACT but I wanted to seek for some advice from my fellow DG students if I'm doing the right thing
Here are my questions
1.) Can I be able to pull up comps from mls or just check out the comps on zillow?
I would appreciate a response!!
TC
Miami Florida
"If you are not doing something that help the universe or God or your family, or YOU, is that something you should still be doing?"-Dean Graziosi
"Each day do one thing to get you closer to your dreams because if you do today what others are not willing to do, then tomorrow you can do those things that others are only dreaming about doing!"- Joe Jurek
Follow me on my road to being a BILLIONAIRE http://bit.ly/1q7aOFX
Go LIKE my official facebook page http://on.fb.me/1qQGO6i
Keep in touch with a soldier
Were forming a DG Diamond syndication
Coming soon to a theater near you
God bless us all
Keep up the good work.
IM a Diamond in the rough looking for partners I would like to be apart of dean's elite team in the very near future my goal is 100 properties a year
P.S.
god bless all the members may we all shine bright like diamonds.
P.H.G.
First question: Where is this Moblie home located and how is it placed. Many states see mobile homes the same as they would as a vehicle. There for they are titlrd the same as a car and are valued much the same as a car, by year and condition. In some cases and in some states if they are placed on soloely owned property they can be viewed as an improvement or detriment to that property. If they are placed on property as a rental agreement, such as a Mobile home park, then they are seen strictly as Vehicles and titled as such. They belong to the owner of the title and in some cases as owners change hands they may have to be moved if a new agreemenet can not be reached with the owner of the property or Mobile home park. In some cases the park may have restictions as to who may reside in the Mobile home, such as an adults only community. The credit of the owner could become an issue also, depending on thesituation of the former owner if significant back rent is due or if a significant deposit is required. I some cases the Mobile home park owner may have ownership of the mobile home and may just keep it as a rental unit or require the unit to be moved when purchased. Moving a mobile home can range from less than $1000 to more than $10,000 depending on the size and configuration.
I speak from the stand point of an owner of a mobile home in Florida. My home is a 1965 single-wide unit (17' x 65' ,1 /1 ) that came with the Park. It is in a Mobile Home Park that is in a +55 community.I rent the property the unit stands on. It is titled as a vehicle and is worth about $1200. Other units in this park range from single wides to double wides some owned by the park owner, some owned by the residing owner.
Be careful as you make an offer for the unit you refered to. Make sure the offer to buy includes, takes into account, clear title to the unit and does or does not include the property on which it stands.Some states and areas require additional insurance on the unit and certain constraints on the way the unit is placed or tied down such as subject to wind and or flooding conditions. Make sure all sanitary, water and electrical connections are in accordance with local codes.
Frederick R Bauder