Thinking of buying a manufactured home in a Senior park . How do I establish fair value ?

Asked by Swedishborn2, Bothell, WA Tue Jun 19, 2012

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Ron Thomas, Agent, Fresno, CA
Tue Jun 19, 2012
BEST ANSWER
You might ask a Realtor to represent you and have them do a CMA to determine the Market Value.

Of course, the alternative is that you offer whatever YOU think it is worth: When you do that, YOU will be creating the Market Value of that property.
0 votes
Jana Schmidt, Agent, Renton, WA
Mon Nov 26, 2012
The first thing to find out is if you are buying in a community that rents the space the home sits on or if the price of the home includes the land. Ideally you want to compare with recent solds in the same park for the best references. If it's a community where you rent the land (and most are) I would also recommend calling the manager of the park and finding out what the qualification process is to rent in the community. You could ask the manager for any recent sale information as well as the condition of the homes that recently sold. The managers at Senior parks are a wealth of information. Most real estate agents will also call the manager as part of the Comparative Market Analysis.
0 votes
Stacey Lange, Agent, Kirkland, WA
Tue Jun 19, 2012
Hi there! One of my buyers agent's, Chance Drake http://(www.searchseattle.net/chance-drake.php) has closed a number of manufactured homes in area senior parks and would be a great resource as your buyer's agent. In representing you he can assist with the valuation process and how best to submit your offer. I strongly suggest you reach out to him - 425.591.3205

Best of luck!
0 votes
Tonya Brobeck, , Everett, WA
Tue Jun 19, 2012
Pull recent closed sales in the neighborhood. Or have an agent do a CMA for you.
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