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Answers (4)
- girouard property RE
- Contributions:981
If it is a mobile home : offer land value.
If it is a "pre-fab" home, on a slab it's a different story. You may need to pay more, the key to this is DON'T OVER PAY
If it is a "pre-fab" home, on a slab it's a different story. You may need to pay more, the key to this is DON'T OVER PAY
- CJane
- Contributions:56
The land value is probably most important but there would also be other considerations. If it is in a state where manufactured homes can be attached to the land you would also want to get the make and model number which is usually inside or near the electrical box and call a manufactured home dealer to find out what the resale value is. Then check with the county to see if a certificate of attachment was filed. If one was filed then it becomes part of the realestate. At that point you would want to add the manufactured home value (minus the condition or requred repairs needed) to the land value. If it is trashed as many REO properties are, then I would just make my offer for the land value. The bank or owner may also want a little more for the improvements that have been made to the property (like well, septic, electricity, gas etc.)
- girouard property RE
- Contributions:981
VERY good answer Amanda!
- Amanda Wilson, "WilsonAmanda"
- Contributions:1610
i would offer land value....find out how much other land is going for....just land value only.
How do I know what to offer in a REO?
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