Thanks Todd for the post.  Although I don't have much experience with manufactured homes, I'm having a hard time understanding why someone would build a home where they don't own the property? 

Thanks for the education.

Wow Todd,

It is amazing.. I never knew that it would cost that much to move those...

Todd - Thanks for the eye-opener on this issue.  Glad all turned out well for your grandmother.  I know she must be very proud of you. You are a very creative guy.  Love your click her for creative financing and your click here for scouting report.  Excellent marketing!

Todd... that is so sad, I feel horrible for your grandmother!  I hope she was able to come out of it with minimal stress...although that almost sounds like it would be impossible. 

There are some manufactured homes here in Vegas, normally in 'parks' or areas where they are clustered together and share common facilities, like pool, clubhouse etc...the people normally do not own the land...we as REALTORS® cannot sell these unless the property is owned.  The city or county comes in and wants to 'revitalize' the area and the home owner is out of luck.

Todd...I got your note and will work on it this afternoon or tomorrow morning.

Todd,

Nice post! If the purchasers don't intend to purchase the land they should be sure and read the lease to make sure there is some sort of 'cap' on rent increases and negotiate something that works for them and their time frame! Thanks,   Fran

whoa, that's good advise.  This is the first time that I have lived in an area where manufactured homes were part of market.  Definitely something to make both the agents and the buyers aware of.

thanks!!

So true! I actually have a policy that I will not participate in a transaction where my buyer is buying a home of this type, unless the land is included. We had a community here overlooking the beach where folks did not own the land. Homes were selling for 500k. The land owner decided to build something on the land and instantly these folks owned 2k worth of scrapwood.

Todd, I'm dealing with this right now. An elderly lady wanted me to sell her house- it's a doublewide- she told me she owned the land, she doesn't, she rents. She was so confused, told me if she knew when she sold her house that this was personal property, she wouldn't have bought it.

Wayne - For some people they see it as a way into a home ownership situation for 1/5 the price of a stick built home.

Mehmet - It is about 10-15 thousand for the move and another 10-15 thousand to hook the home back up to utilities.

Marlene - She actually had it mostly paid off when this happened but she was also in a home whrn it happened, so it was more damage to the person that was renting tit. They had to find a new place to live. I had nothing to do with this, I am not allowed to sell manufactured homes unless they are on their own land.

Faith - My grandmother knew nothing of wat was going on. She was in a retirement home, the family had to take care of it.

Mary - That is exactly what is happening here.

Fran - There is tah and this is even worse. They just sell it out from underneath you!

Kate - You just feel so sad for these people and all they can do is continue to pay on the loan and have no home to show for it. It isbn't like a home, it is more like a car, it shows on your credit as such. It shows as a repo and that you still owe the difference between what they sell it for and what you owed.

Robert - WOW! That sucks! Does your state treat it like an auto sale like ours does and these people are stuck paying the loan off anyway?

Debbie - Has she talked to a lawyer? This sounds like fraud!