How To Sell My Mobile Home
Currently we own a mobile home and live on an Air Force Base. We have only had the note for about 5 years. We still owe 38,000 and it's a single wide. (Yeah...I can say the word 'screwed')
Anyhow...in 2007 the Air Force Base is shutting down the mobile home park and all residents will be kicked off. I don't know how t his works because I've never had to do this before.
We don't want to live in a Park in the city nearest the base, because for (1) they are crowded, (2) they are dirty, (3) I just assume get out of this loan.
How do we go about selling the home? It's financed with Greenpoint and I've heard horror stories about them. Do I just sell it for what it's worth and pay the difference to the mortgage company? Is that an option?
What about consignment? Are there in places in San Antonio that do something of that nature? Or that buy used mobile homes? How do I go about this stuff?
Thanks for the help!
It might help to mention that I live in Texas. San Antonio is the nearest big city.
Thanks!
Since you've got a while to work, look into buying a lot & putting your MH on that lot...it's worth a lot more money with its own land, and buyers will then want the MH.
Chances are you can, with help of a RE agent, locate an area with MH acceptable lots and find a motivated seller...who'll let you pay small down, and take your note for the balance.
Don't delay, because you're going to be out some money, on move, re-setting your MH, utilities, etc, so you'll want some time to plan all the parts and expenses of your new "land package".
BUT, once you go through this, and learn to do it, it'll provide you with a very valuable tool in that you can then do it repeatedly for big bucks.
Make sure you have GP's permission, in writing, to move the MH, so they won't think you're trying to hide their security.