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Originally Posted by rokk
Bryant... Are you financing your purchase? If so, there may be some considerations with buying a mobile home. Both properties look like really good deals considering the land size! Are you working with a Real Estate agent? If you have any general questions, I am a Real Estate agent so I may be able to help.
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Thanks for the offer. Unfortunately, everything is on hold right now. The developer that wants to buy my house tried to low-ball me. He offered me $35,000 for my home and land. my agent told me, it should sell for between $65,000 and $85,000. It is ashamed, because I actually went and seen the properties the other day. The one with the mobile home on it is fantastic and practically perfect for me.
I certainly don't know the ins and outs of the real estate business, but I know a mobile home needs to be blocked under in order to fincance it via FHA. With the money I would be able to put down, had I sold my house to said asshole developer, I could have had just the land financed for the rest if necessary. I wouldn't have need of much cash left after the purchase, but with 5.5 acres, I would have to buy a good quality lawn tractor, and get a couple of pieces of furniture (used would be adequate considering I would have such a small mortgage payment as I could take time to buy nice furniture at my disposal.)
My agent says I should put my house on the market. Do you agree and if so, how much time/money should I invest on renovating it ? There is nothing "wrong" with my house less old age. Other than cosmetic (paint, trim etc.), windows and doors are the only things in bad shape.
Bryant