how much to offer for resale

[Wendy]

I have heard that mobile homes on leased land are hard to sell. I am looking to buy and have been told it will be 'easy in and hard out'.

Of course I want a good deal but I don't want to steal someones home either.

Anyone have any idea what one should offer percentage wise?

I am going to look at a few next week with a view to buy so I would like to go in there with some idea of offers without insulting the seller.

I will be going in with all cash by the way.

Thanks in advance for any help.

[B. B. Rich]

Wendy,
Easy question, tough answer.
My personal experience agrees with what you've heard. Leasing land, in my opinion, was the biggest mistake I have evr made.
A MFH on leased land is Personal Property, not Real Estate. This means that the owner has a "Chattel" mortgage a.k.a a credit card, or car loan. It's hard to get out from under and you are always upside down on your mortgage... even if you manage to pay twice the minimum payment, as we did for a while.
My advice, DON'T DO IT!!!

[rmurray]

I have seen you post that info about Chattel loans here before..You must have had a rule of 78's chattel loan...Which does front load the interest...Few if any chattel loans are of this style any more...Most are now simple interest loans in today's world...With a 78's loan it is true at the beginning there is negative equity each of the early months..with a simple interest loan the balance falls every month a payment is paid on time..Of course at the beginning interest is a large portion of the payment since the principle is still high..but with a simple interest loan all extra payments should go toward principle and lower the interest every month thereafter...prepayments will save many thousands over time..Readers here should read the loan documents and be sure they are getting a simple interest loan...not only in housing but in any loan...There are many auto loans that are simple interest..but most are rule of 78's based...Shop finance as much as you would shop for the product...

[Jack]

It doesn't appear anyone has addressed original question. Is there any idea what can be offered against asking price? I have same concern, I am looking for MH in Central FL with cash in hand. I too do not to insult owner, but have seen prices all over board.
Thks,

[rmurray]

Most of the value of a home in a community is in the community...Very desirable parks will command much higher resale prices...Find a park you want to make a home in...then shop resales in that park.....Compare the size and condition of the available homes and develop a fair offer for the one you really want...Cash speaks loud..

Good Luck in your quest...You might want to start your search on this web site at the manufactured home MLS...There are hundreds of Florida Listings...