Land/Lease Financing

["Ann Marie"]

Help! Does anyone know who will finance in a land/lease park. I have just put a bid on a property that has a single-wide home on it. I plan to remove it and put a brand new one on the lot. This is an adult park with a 100 year lease...77 years left on lease. This is considered a condo-type park with beautiful manufactured homes. I need financing that will take care of the purchase of the old one and the new one as well. I found only one bank here in San Diego that will do it but they want 20% down. Too steep for me. Can anyone help. I don't want to loose this property. Desperate!!! Thank you.

[Linda]

Ann Marie,

First question I have is what park are you looking at to make this purchase? How much of a down payment do you have? I am a sales agent with San Diego Manufactured Housing in Santee. Usually dealers buy the old homes, pull them out and then put in a new one. We take care of handling the financing for you. There are not that many places who will finance homes in parks. I would be more than happy to assit you with this transaction. Please feel free to e-mail me directly at [email protected] and I will give you the phone number to contact me.

Thanks,

Linda

[Mel]

Process of purchasing manu.home at reputable community lease land. 1 year lease....what financing can you suggest for this type.

Thanks;
Mel