Buying first used home

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Mike S 77
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Joined: Tue Sep 12, 2017 3:38 pm

Buying first used home

Post by Mike S 77 » Tue Sep 12, 2017 3:50 pm

I am getting ready to make an offer on a used mobile home. Its a 1994( 18×76) 3 bdrm 2 bath home made by oak creek. Its in fairly good visual shape.

After having it inspected, it was revealed that it has polybutelene pipes, a roof that needs redone, a bad swamp cooler & furnace. It also needs a hand full of other things fixed. The owners listed it at $32,500.

My question as a first time buyer with no buying expierence is making an intitial offer. Would $25,000 be a good starting point considering the expensive problems the inspection showed? Any input would be greatly appreciated.

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Joined: Tue Sep 12, 2017 1:58 pm

Re: Buying first used home

Post by Mommaof5 » Fri Oct 06, 2017 9:33 pm

While I am not an "expert", I can point you in a good direction. NADA has book values for mobile homes as well as vehicles. They are pretty much the go-to source for book values.

Honestly, I am not sure about the price. It depends on if it has to be moved, if it has land with it, where it has to be located, and so many other factors. If the price is for the home only and no land, you definitely want to look into the book value and get a cost on moving the home.

Another place you may want to look for advice(if it comes with land) would be a realtor in your area. Most of the time if you can talk to someone they can give you a quick run down on the area and property values as well as info on comps in the area. I would find someone who has been in the business for a long time to get the best info.

Hope this helps even if I couldn't give you more specific info.

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