Trade in vs selling

[Leonard]

I have a 1992 28 X 80 Marlette located in Flagstaff AZ (7000 ft). 4 bdrm, 2 1/2 baths. I was trying to move in onto some property but have been told I would be better off (mortgage wise) to buy a new home. What would I expect in trade in value compared to book value? And/or would I be better off selling it myself. It is in a mobile home park with lots of tall pines. Thanks.

Leonard

[Ron]

You can check the value of your home by visiting the reference section of your local library and ask for the NADA MH manual (National Auto Dealers Assn) This is similar to Kelly Blue Book for autos.

Would check with a bank or local mortgage company, on an information basis, whether they would finance more on a new home rather than an older model.
Depending on how much equity you have in your existing home, you may have to pay additional down payment on new land/home package to cover the pay off on your exisiting loan.

Assuming your home is on a rented lot, you will make more selling it yourself than you would receive in trade in value. How much depends on the MH dealer you work with. It is not easy finding credit worthy buyers so it may not be worth your time. Also, check with your current landlord, they may not allow you to sell home in place. Some do, some don't.

Ron