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Replies (6)
- Kelly Lacey, "kellylacey"
- Contributions:797
It's almost impossible to finance those types of properties...sorry :-(
- Ofe Polack, "Ofe Polack"
- Contributions:1418
Just move on and find another property. Probably what attracted you the most was the price, and what you see is what you get. Move on, don't buy problem properties to begin with.
- Claudette Millette, "Claudette Millette"
- Contributions:2
A "single wide" as in a mobile home. Banks are very strict about financing these types of properties and if it has been built around it is probably quite old. You would be better off finding an actual single family home, even if it is distressed. Look at the foreclosure properties in your area.
- Alex Cortez, "MauiRealEstateSearch"
- Contributions:114
Twee, as advised below, it is not a wise investment and although the price might be alluring, it is not worth the hassle it will cause you in the long term. Good luck.
- Julie Nearing, "JulieNearing"
- Contributions:133
That is a tough one, as mobile homes are hard to obtain financing fore. The best bet would be buying it with cash. If you don't have the money yourself, maybe you can work some private lending sources close to you.
- Dee Nott, "hopemillsagent"
- Contributions:1
If you really want to purchase this mobile home you might try looking for an investor to partner with. If the home sits on property that is owned it would make a great investment opportunity for someone who has the cash to purchase the property and owner finance it back to you. In these situations the investor would get a deposit from you and sell the home to you at an agreed upon purchase price and interest rate. What would make it a win for an investor would be return on investment. If for some reason you back out somewhere a long the line the investor would have to feel comfortable being able to re-sell the property. If you stick with it you can pay it off and own it outright!
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