Sherry Morris, Home Buyer in Colorado Springs, CO

I am going to be purchasing a new Mobile Home within the next couple months. I own my current Mobile Home and Lot I have no idea how to start

Asked by Sherry Morris, Colorado Springs, CO Sun Nov 4, 2012

will need to have current home demolished or tore down on lot it can not be moved it is a 1964 and falling apart already

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Hi Sherry,

Not sure if you have gotten your question answered. If not feel free to contact me. Happy Thanksgiving!
0 votes Thank Flag Link Tue Nov 13, 2012
Hi Sherry!

I am sorry you haven't received a response. It's probably because this is a very difficult question to answer and because mobile homes fall more under the category of personal property rather than real estate. A modular home, however, IS considered real estate...

I am not sure exactly how to handle your situation, but this is what I would do to get started.

First mobile homes are traditionally difficult to obtain financing on. There are lenders however, that specialize in mobile home financing (sorry I don't have a name for you, but will check). Lenders have specific requirements for the mobile home -- such as it can only be moved once otherwise it is not eligible for financing. You need to understand all of those requirements by identifying a lender who really knows this special niche.

If you have cash to purchase the mobile home, then you should be able to find a good deal out there. In the past I have sold land that had a nice mobile home that the new buyer didn't want. We couldn't sell it for anything, and the seller had to give it away just so someone would come get it off the property. Used mobile homes sell for cheap if not free! might NOT be able to get financing, so cash is King!

The more expensive approach, but may be your only option, is to contact a dealership that sells NEW mobile homes. They will be able to help you get rid of your old one, set up your new one AND give you financing. Now these guys are like used car salesmen -- be careful, do your homework and shop around. They use high pressure sales techniques and will make you think that if you don't buy today, that you never will. Don't be fooled. You don't necessarily need to find a dealer in Colorado Springs -- I would shop all the way to Nebraska to make sure you are getting a straight story. Just Google it and start shopping.

I saved the BEST option for last. Since you own your land, you might want to consider getting a modular home. Since a modular is built differently and can be anchored to a permanent foundation, it can be treated as real estate -- meaning you can get traditional financing at a much lower interest rate than on a mobile home. You will need to check with the Home Owners Association to see what they allow. A lender will also need to take a look at your land situation before you get too far down this road. Modulars are more expensive because they are of higher quality than a mobile home, but at the end of the day, your payment may not be that much higher due to the interest rate differential. The modular home builders should be able to help you through the whole process -- get rid of your old one, set up the new one and give you financing. Again, be careful of high pressure sales techniques and ask if you can use your own lender. A third party lender might give you a better package then the manufacturer's lender.

I am happy to coach you along the way if you feel that you need some advice. My email is

Dena Schlutz
Owner / Broker
Estate Professionals
0 votes Thank Flag Link Tue Nov 13, 2012
Hi there Sherry,

I'm sorry that you haven't gotten the answers you were hoping for.

I'd recommend, in order to get more answers, to rephrase and shorten your question. This will help agents get to the crux of what you're asking faster.

Might I suggest rephrasing to: "How should I demolish my current mobile home, to prepare for my new one?" Then you can go into more detail in the "More details" box.

I hope that helps,

Community Manager
Trulia Voices
0 votes Thank Flag Link Mon Nov 12, 2012
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