old mh blues

[CBrown]

I am executor of an estate with a double wide mobile home built in 1974. I have not been able to sell the property because no bank will finance such an old double wide. What can/shoudl I do? Is it possible to replace the old double wide with a not-so-old double wide that a bank would finance? Where in central NYS would I find such a deal? How much would it cost to swap out the old for the not-so-old?

[Roy Bonney]

Sounds like you're going deeper in the hole. How much value do you place on the home itself? It sounds like you feel it has very little value. If this is the case, why not remove the home and sell the land on its own.

[Luke S]

a bank will finance the land and if the land value is high enough they will not even consider the fact that there is an old mobile home on your spot. just sell the land for its fair market value, and exclude the mobile home. you may need to offer to help pay for, or even completely remove the old 74. BUT, if you sell the parcel of land for its value alone, any bank should be willing to finance it. afterall, a 30-year old double wide has a book value of no more than 5000 dollars, and thats if its in good shape

GOOD LUCK
L W