Trulia Voices Real Estate Q&A in California

Linda Bull
Linda Bull
Real Estate Pro
Central Coast of CA

Will it be difficult to finance a 1975 double wide with expando in a leased mobile home park?

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K
K
Real Estate Pro
USA
Mon May 26 2008, 11:12

The answer to your question is YES! You are dealing with personal property not real estate.

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www.themlshub.c…
www.themlshub.c…
Real Estate Pro
Sacramento
Sun May 25 2008, 20:04

Owner financing may be your best option if you can't find a cash buyer. Some parks won't even let you sell these older units because they want to replace them with newer units. You may want to check with the park administration to make sure they'll allow it. I sold an older mobile in a park last year and the park had the option of not allowing a resale. Good luck.

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J.D.
J.D. "Dan" Weis…
Real Estate Pro
Clay, Duval (Jackson...
Sun May 25 2008, 19:56

In most states if a mobile home is in a leased mobile home park it is not real estate. It is used cars

JD

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Susan Sestak
Susan Sestak
Real Estate Pro
98275
Sat May 24 2008, 14:39
FIRST ANSWER

The age of the unit is a large stumbling block. Financing a mobile in a park is like buying a car. The older the unit the harder it is to obtain financing- and the interest rates are very high. The cut-off in general is 1978- the year that FHA will begin to finance a mobile that is attached to land. Your best best is first- owner financing and then 2nd search the local credit unions or smaller charter type banks. I think you will find someone willing to lend but it will be costly!

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