difficulty selling a pre HUD renovated manufactured home

[dotti575]

Liberty Modular Jan 1976- before Hud stickers. Have been told that without HUD sticker buyer will not get mortgage. Have put $45,000 in material & did work ourselves. Other problem is that the steel carriage is on cemented blocks.
would it pay me to have a foundation put under house? Banks, appraisers and inspectors here in NM have my head spinning. My husband died & I bought another house. I need to sell. Does anyone have any answers?

[rmurray]

Selling any home let alone a 32 year old home is very tough right now. The HUD label might be missing BUT if you are correct that the manufacturer date of this home was in Jan, 1976 it IS a HUD certified home and there are records to verify this and give you what your buyer will need to satisfy lender requirements. You can go to this web site to see how to apply for legal verification and lender letters.

http://www.ibts.org/label_req.shtml

If the title reads this home is a 1976 or later model it IS HUD certified because all homes built after June 1975 had to meet the standards. Homes built in this time frame were some of the best of the era. Manufacturers were still afraid of HUD and had yet to find any loop holes around the intent of the regulations. 1976 models were some of the best in the industry..

If it is a HUD certified home, you might be right to consider a FHA approved "permanent foundation". A HUD certification and FHA foundation will allow your buyer to finance using FHA, VA or FmHA mortgage plans. This will allow buyers to afford to pay a fair market price for the home. Just remember any 32 year old home of any type of structure would require a very rigorous inspection and often require corrections of the structure, wiring, energy efficiency heating and cooling equipment. Home marketing is a business in itself.. It should be displayed clean with NO apparent damage. Often sellers will replace carpet, floor coverings, cabinets and paint everywhere needed. Getting top dollar could very well require investing top dollar. Most places in the country will require a year or more time on the market to find the best buyer. Even in these tough home sale times houses sell every day. Stop back here often and ask questions. Do not let eh frustration get you down..Good luck

[dotti575]

To: rmurray,,
Thank you for the information about ibits. I looked at the site and it states that any home built before June 15, 1976 would be untraceable. The home in question was built in Jan, 1976. Thanks for taking the time to answer. It was helpful. dotti575

[dotti575]

to: rmurray

Just to add to my confusion, the county records list the home as a House, not a mobile home. I have never had a mobile home title and neither has the previous owner. I am paying taxes each year as a house on 4 acres. As soon as I can drive( I've just had shoulder surgery) I am going to follow the money and pay a visit to the courthouse and trace the records to the original owner. I'll see if there was ever a loan or a mortgage of any kind. Maybe that will give me some answers.

[rmurray]

When IBITS says built they mean the date it was built in the factory, not the date it was built on the property.. It is entirely possible it was built in the factory earlier than June, 1975 and been on the dealer lot a few months before it was moved to your land..IBITS records ONLY cover HUD certified homes which would be ALL homes built in the factory after June 1975. Good luck with your information hunt in the courthouse..

[David Oxhandler]

If your trying to sell your older manufactured home and traditional finance roads turn into dead ends you do have alternatives. It is very difficult getting financing for older manufactured homes in the best of times. At this point in the economic madness folks with perfect credit are having difficulties finding lenders that will extend money for brand new homes. Often fresh financing will be dependant on a foundation system that meets the latest FHA standards..... Continue Reading Here