Manufactured Homes
Can I do a SHort Sale on a Manufactured home? I have someone who is about to go into forclosure and filed chapter 13 bankruptcy. There is no equity in the home and its sitting in an area where no of the other mobile homes are comparable. This is a brand new 89,000.00 Home. Any info would be appreciated.
What, exactly, do you mean by a manufactured home? Does it have wheels? A foundation?
In either case, the Chapter 13 will impede your pursuit, though it's entirely possible.
What's it worth? What is owed? How much time doyouhave? Do you have the $$$ to close the deal?
[addsig]
Ok. here are the facts. I've been bumping around with bankruptcies and that's who I target. Very very www.modivated.I've learned a little about how the trustee's operate. But so far all the ones I get have been released by the trustee (little or no equity). The house is 89,000.00 and only about a year and a half old. I hear manufactured homes depreciate. It's the nicest home in the park. The rest may range from 20,000 to 40,000.00 and thats giving a lot. Yes it has a solid brink foundation. This is a very nice home that needs very little work if any. I didn't really see any. Personally I think it was over priced. 4 Br 2 Bth. My exit strategy is to flip the property to a buyer. I have plenty. I felt that this property could be a good candidate for a short sale due to the area that it is located in. Theres almost no equity in the house. But I seriously doubt that they can get 70,000.00 for this house if they take it back. I don't know www.though.I've never delt with a manufactured home.