Dealers model

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Jim

Dealers model

Post by Jim » Wed Nov 10, 2004 2:13 pm

I have the opportunity to buy a 2,000 sq, ft., 2-story modular home for $20,000. Dealer went out of business. 2nd story is not finished. This allows for the roof to fold in for easier move. I live in the fastest growing area of NC and can get a 1-2 ac. lot for around $25,000. The house, once moved, finished, and set up will likely go for $180,000-210,000. Question: Is this worth pursuing? How would I go about financing this with very low cash output?
Thanks

rmurray

Re: Dealers model

Post by rmurray » Thu Nov 11, 2004 6:53 am

Ever hear of the deal that is too good to be true...Something sounds really bad here..There are many dealers who would buy this home in a flash if all was ok...

Remember most inventory homes on dealer lots are financed and the ownership is with the lender..If you are buying this home from the floorplan lender you might be ok...Of course...if they had the home and wanted to sell this cheap..they would have a dealer who would buy it soon..

You can get finance through a mortgage company..but loans take a few weeks to close....

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