Do we sell at a loss, move it or what

[Robin]

We have a 1998 double wide 3 bedroom 2 bath and may need to relocate to Nevada very soon. I have just found out that lenders will not finance purchases in our park because the space rent is so high. We have a rent controled space as long as it has continual occupancy and you fight for it. If we try to sell it we know we will not get enough to cover our loan balance. Is it better to take the loss and write it off against the purchase of another home. What are the costs involved in moving a doublewide from Northern CA to Vegas?

[rmurray]

Never heard of a lender refusing to finance in a specific park to a qualifed buyer...Check with the lenders listed on thisa web site...

[David Oxhandler]

Yes - We have several lenders that are happy to give loans to homeowners with homes located in land lease communities as long as they have good credit - Fill out the short lenders contact request form that you will find HERE

[Roy T. Bonney]

It sounds like you would be much better off to sell where it is. The rent control on the land, makes the home more valuable as it sits on the lot.

[Jeff P]

The truth is most people sell houses at a loss and dont realize it

For example Im not using complely real numbers here but

say you bought a house for 100,000 and kept it for the entire period of the loan 20 year for example witht he intrest rate you probably spent 300,000 on the house and if you sold it for $230,000 most people would boast how they made money selling there home when in acuality the lost as well.

Manufactured homes may stand to lose more I dont know but this is something I learned in finance class that I never reallly conisdered in the end the bank is the one that wins no matter what.