buying a model?

[Tanya]

I'm looking into the possibility of buying the display model for the floorplan we like rather than ordering brand new. Are there any issues I need to be aware of? For example, buying the model means the home will be moved twice, is this a problem? Any other questions I should ask the dealer?
Thanks, Tanya
Also, kind of a silly question, but do dealers ever sell the furniture they use in their display models? I just love the way they decorated their model!

[Patti]

The only issue I have been heard of, was a friend who was trying to buy a 1998 MH this year, 2004, that was a dealer demo but never set up completely on the lot. As of last month it was still awaiting sewer & power. My friend couldn't obtain financing on it because of the time it sat on the dealers lot then the time it sat on the new location. The seller of HM (who was a contractor not in a rush to set it up) had papers showing when he purchased it and took delivery and it had only sat on this particular lot after it left the dealer. It didn't make the appraiser or the people who the appraise spoke to at HUD too comfortable with the situation.

This is probably just a one in a million situation but since this contractor still has not installed any utilities (over 2 years now that it has been on the lot) I can't imagine it getting any easier for the next people who want to buy it.

Good Luck

[Tanya]

Huh, sounds like a complicated and confusing situation. I think this one will be a bit more straightforward. It's this year's model, and has only been on the lot a short time. I spoke with the manager of the dealership, and he said he doesn't usually sell models that are less than a year old, but he'd work up a quote for me. He also said that being a model wouldn't effect the manufacturer's warranty in any way. He even said he'd sell us the furniture! But we'll see if it would be worth it, cost-wise. Might not be that much less than brand new.
Anyway, thanks for your story!

[rmurray]

There is no reason you should not buy a lot model...as a matter of fact..you can get into the home much quicker and in this time of rising rates..this could mean real savings overall..

Yes dealers do sell off decor and furniture...but..mortgage companies will not knowingly finance these things...financing a couch for 30 years is plain dumb...If you want to buy the furniture..arrange funds outside of your mortgage for this purpose and pay it off in a timely fashion..

[Tanya]

Ahh, good point..I was wondering about that. But that was why I was wondering about appliances and so forth? Why will they finance those?

[rmurray]

With care they will last 20 or more years...soft goods....furniture will not..

[don]

I bought a model off the lot, a Palm Harbor, I saved almost 10K as they wanted to get it out of the way to make room for another model. Even if you were to want to finance furniture for 30 years (which is really idiotic) the furniture they furnish these models with is VERY cheap. Good luck!!

[jgn]

One thing to check on with the furniture is the size. many model homes will put in undersized furniture to make the rooms look bigger also it looks nice but is usually not of very good quality because after it has been there awhile it gets beat up and why spend the money for quality furniture so some child, regardless of age, can jump on it. I have heard that lot models can be nicer than ones you order because of some of the upgrades they put in to show well also they want to put their best foot forward.

[Tanya]

Well, we probably won't be able to afford the furniture anyway, but it will be interesting to see what price they offer it at. I have noticed that smaller furniture is used for scale, but that's not a real big deal to me. After all, if it makes the model look spacious on their lot, it will do the same when we own it!
We got a quote on the model we're interested in: 90,000 for a "fully loaded" 1700 sf model. (Palm Harbor) How does that sound?

[don]

Ask what price they are going to allow for the furniture, then do the math at say 6.5% over 30 years see how much it cost ya