Newb here, buying a home, is this a good deal?

[ripcurl]

Hi everyone, I'm a lurker to the site, figured it was time to register and I have a few questions, thanks in advance for any help.
Am buying a Palm Harbor "doublewide" 4 beds/2baths, Firplace, upgraded carpet ,upgraded windows,transom windows,etc, was a lot model. Sq footage is listed as 2280, 3/12 roof pitch, glamour bath, really too much to list.
Home was listed for 90k, lowered to 80k. I negotiated it to 75k including tax. Includes setup,delivery,a/c.

Was this a good deal? Or did I pay too much? I still have to pay out of pocket for carpet reinstall, and block foundation, but overall I think I did okay.

[rmurray]

Sounds good to me...Go for it soon before the model is sold..These lot model closeouts are broadcast throughout all stores in the region and they do not last long with scores of consultants trying to sell the home...Do not hesitate too long..

[admin]

Rip-

Sounds like you really scored ! Palm Harbor ranks high for superior construction, and quality features. The foundation and other site work are not usually included in the cost of the home. You have done very well.

In what part of the country are you located?

[londonteatime]

My advice is to get everything included in writing, signed, dated and notarized. I have been home shopping and found that they would change their tune the closer I got to buying. At first, everything was supposedly included -- delivery, setup, basic foundation, skirting and AC. Then, when I was close to signing on the dotted line and I rehashed the deal, skirting was no longer included nor was the basic foundation.

Other costs became apparent, too -- hiring electricians and plumbers to do the connections on-site, possible septic system depending on where I moved the home, site preparations (which are critically important), etc. I also discovered that the city recently passed mandatory sewer connection upgrades that hadn't been done at the lot I was looking to buy.

Frankly, when I added it all up, I decided it would be worth my while to buy a home already on its site and I found a foreclosed 2000 model on its own land. Got a real bargain!

Good luck to you!!!!!
Julie

[ripcurl]

I'm located in Northeast TN. I also forgot to mention that although the home has "cathedral" ceilings it also has finished drywall in all the living areas (except bedrooms and baths).
The funny thing about all this is that the dealer I purchased from is about 100 miles away from the home site. They have estimated set-up delivery and a/c to come out to $11K. Overall, I'm figuring the cost of the home comes out to 33/sq ft including everything.

Here's a link to the photos of the home,feel free to give your opinion:
http://pg.photos.yahoo.com/ph/jopalka2/ ... FBUgOWxEn4

[rmurray]

I am familiar with this model....In our store the last one sold on a close out for far more than you were offered...Palm Harbor Housing consultants all over the SE are trying to sell this last of its kind home.....If I were you I would snap it up soon before one of the other 100 consultants in the SE sold it out from under you...Go for it soon...

[[email protected]]

Well at $33 a square foot I would say you got a great deal on the home.
Marlene

[simdarhan]

I have been searching for a repo doublewide for the last 5-6 months. Lately I have been cautioned about EXTRA ADDITIONAL COSTS - especially at closing.

Why can't the dealer/seller just be honest about ALL or ANY costs - up front - BEFORE you actually sign any final papers. I am not sure about CLOSING COSTS. Is there a percentage you should accept??? And SALES TAX. Is this the normal 8%???

I am getting very nervous about all the extras.

Any suggestions would be appreciated.

[rmurray]

Sales tax is different in every state..it has nothing to do with the dealers deal....You sound like you think he should quote including tax..Many states do not allow a retailer to do so....The amount of sales tax varies by state...In some states if you buy a home from an individual instead of a dealer..there is no tax....

Closing costs if any are loan fees and the dealer should answer your questions but is not obligated to pay them...There are many different ways to finance a manufactured home...Closing costs will be different from lender to lender..They will depend on the amount you finance, your credit scores and the type of mortgage you choose....If there is real estate involved..6 to 8% is not unusual..Home only finance usually only has fees of 2% or less....

You might want to check with the bookstore here and invest in one of the great "How to buy" books here..They are a very small investment in relation to your overall risk...

[londonteatime]

I just bought a foreclosed mobile home from Fannie Mae -- it was a much better deal than what the mobile home retailers had. It's a 1,344-square-foot double wide, on its own land, with a two-car carport, shed and front porch and I got it for $30,000! It's a 2000 model so it's fairly new.

The benefits of this are many: I got the land with the home so I'll never have to pay lot rent. It's already on its site, and since it was bank-financed, it has a good foundation. I have city water and sewer, so I don't have to worry about putting in a septic system or paying for connections. I also didn't have to pay for a mobile home permit.

There are many, many HUD and Fannie Mae homes available. You do have to look them over carefully but you could very well find a gem, as I did. As for closing costs, they were minimal. Fannie Mae paid quite a bit of them; HUD also pays a good portion of the closing costs and if repairs are needed, puts the cost of repairs in escrow for you.

I was very pleased in that Fannie Mae even paid for all new skirting to be put on my home, repaired the fencing, and had it ready for me to move right in!

Good luck!
Julie