You really should start with the park manager. You will have to fill out an application and be approved by them before you even make an offer on a manufactured home in a rental park
Be sure to have it thoroughly inspected by an experienced MH inspector and not just any home inspector as there are several nuances with MHs that you don't have in a conventional site-built home and most home inspectors not familiar with these nuances will not even know what to look for.
Make sure the inspector crawls under the home and thoroughly inspects each and every pier and pad assembly for rust, deterioration and decomposition if steel and for decomposition if concrete as homes close to the ocean can be severely impacted by salt.
They should also make sure the home is level by checking all the doors and windows to make sure that they are not swinging or sticking and that all the strike plates on the doors are properly aligned and the doors close soundly.
The inspector should also inspect the steel mainframe for rust and decomposition as well. I can't tell you how many mainframes we've had to repair that were suffering and in some cases even failing from rust and deterioration related issues.
Be sure and have the inspector check for rips and tears in the vapor barrier under the floor. If there are openings in this membrane it could allow the insulation under the floor to become compromised and even fall on the ground.
Openings in the vapor barrier are also a great place for rodents and cats to habitate and reproduce. We've eradicated countless critters from these cavities over the years and it's not a very pleasant experience.
Finally and very importantly make sure the home has a California State Housing and Community Development Department (HCD) certified earthquake resistant bracing system (ERBS) as most areas in California are classified as a Zone 4 earthquake area which holds a high probability of risk for a seismic event..
We are a California licensed and experienced manufactured home and general contractor and manufactured home dealer, developer and real estate brokerage with decades of experience in the MH industry.
Please feel free to contact us anytime at 800 909-1110; cell: 760 815-6977. Or email us at email@example.com.
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Also be aware that the MH is a PRE HUD, built before June 15, 1976. Mobile Homes built up to 1979 are known to have caustic (formaldehyde) and carcinogenic (asbestos) chemicals in the insulation, popcorn ceilings, acoustical tile, particle board sub floors and perhaps even countertops.
You really should start with the park manager. You will have to fill out an application and be approved by them before you even make an offer on a manufactured home in a rental park. But you should also make sure you have the home inspected by an experienced manufactured home inspector and not just any home inspector.... more
In your shoes, and regardless of what the broader response is, I would first try to consult with someone both experienced and knowledgeable who works for the plan administrator. From there, you can talk to your tax professional. It's important the information you get relates to your specific situation.
IRA funds get used all the time to facilitate home purchases. But not all of us in real estate are there when the buyers/borrowers file their returns and realize the outcome of their actions. I think for this reason alone it is not good to advise what you should expect at that time.
If you determine you can do what you want and need and you could use help on the mortgage side, I'm happy to be of service.
Hello Julie, You will find the same thing in all mls. Most agents do it that way. Good luck. By the way, Did you buy yet? Do you have your down payment and closing cost saved? If not is that holding you back from buying? I offer the CHF Access half percent down payment program with a minimum 580 fico score to qualify. This can also contribute to your closing costs which makes offers stronger. Here are brochures and a needs list to qualify.
CHF Access half percent down brochure, pdf
Sheryl Arndt, standard needs list checked, pdf
Why Rent brochure
CHF Access income limits http://tinyurl.com/8lzf8he
It's a lovely area close to schools, shopping and the freeway to Silicon Valley or the beach in Santa Cruz. Aside from the big condo developement at 111, there's 2 smaller condo developements and around the corner is a large mobile home park tucked in on a hillside. As you go further down the 3 mile road, you get into the countryside with a winery, horse stables and some very nice homes. I've sold a few places there to very happy clients. If your interested in more info about the area, please feel free to contact me.
Molly Thompson, Broker Associate, APR
One other issue comes with considering flipping, most lenders these days ... require you can not go into contract til the 91st day.. it becomes a date of contract not a date of close of escrow something to keep in mind with wanting the largest pool of buyers and that usually reaps the highest selling price.... more