Rotting siding...

[Irmina]

I need expert advice on buying a 1992 Fleetwood DW located in a park in Eugene, OR. It has 3 bd, 2 ba, 1372 sq ft, nicely landscaped back yard with a hot tub and a large deck. I think it's a "Cunison Lake" model. The seller wants 32K for it which is less than comparable mh in that area, but the condition of the house is far from "well maintained" as the MLS listing claims. Kitchen cabinets are cheap, tubs and sinks-plastic, carpeting and kithen floor need to be replaced. The most worrisome is the hardboard siding, that is rotting in several places.
The seller hinted that she is unable to lower the price or make any repairs. She has the necessary forms to apply for the settlement (bad siding), but has not done it yet. Should I walk away from it or buy it the way it is and deal with the siding later? I am not sure how serious the problem with the siding is. I can't tell if the rest of the house underneath the siding is rooting as well. I'd appreciate a quick response. Irmina

[rmurray]

Hire a home inspector...

There are suits for the various siding manufacturers that have been settling in the last few years...
but...some of the claims are closed out, some are settling pennies on the dollar..others are paying...Of course you have to know what kind of siding there is on the home..I just read an update from a good source...You will find some siding info in one of the articles here.....


http://www.mobilehomerepair.com/Fall2002.html

[Irmina]

Thank you for the information on the siding. Home inspection here costs $360, but I was just wondering, whether I should even consider buying the home (that obviously needs major repair) before I spend that kind of money. The seller is NOT going to fix anything whatever the outcome of home inspection. Irmina

[Mac Walker]

I have a couple opinions, for what they're worth. The fact that the fixtures are low-end means this was a low-end unit to start with. So the insulation etc. may also be the lower end because it was intended to meet a budget. If so, annual heating costs would be higher. If you were re-siding, this could be an opportunity to upgrade, though.
With the carpeting and floor, they may be originals. It would be interesting to see what's underneath. I am sure the floor decking is not OSB or plywood, but rather Cresdek. If the maintenance wasn't that good, I would be checking for soft spots in the floor that may need work - particularly if there is carpet in bathrooms.
Someone being unable to lower the price - because that's what they owe, or otherwise - has no bearing on what you should pay for it.
Unless this is $4-5K less than comparables - maybe more - I would look elsewhere. But that's just my opinion.

[Charlotte M. Maness]

Were I in your place I would simply WALK AWAY. If the owner isn't going to fix anything, you could find yourself with a real live lemon.

[Irmina]

Thank you for replying. You have a valid point: it is a low-end house, but in a nice location. Actually, location is the biggest asset. It's on quiet a cul-de-sac with elbow room and affordable park rent. Other houses for sale in the same park are listed at 40K (even a repo), granted they may not get that, but there is nothing less expensive than this house. I viewed homes in better condition and for less in other parks, but the rent was substantially higher and the lot was much smaller. So again location is the selling point. I am going to have it professionally inspected tomorrow and take it from there. Just a side note, the real estate broker is charging 8% sales commission compared to the usual 6% in this area.

Irmina

[Katie]

The SELLER should be the one paying the real estate agent's commission.

[rmurray]

As often said here...resale is location, location, location...The price is low enough to repair or upgrade anything and still be within or better than the market you decribe,,,Just be aware you will have to spend some money..