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Well, that's a new way of looking at the situation.

By
Real Estate Agent with RE/MAX Advantage

We were sitting around at our office listening to tales about the ones we lose.  We lament the sales that fall through.  My particular story was about this lovely young woman that I'd walked through the processes of getting her approved for USDA Rural Development Direct Financing.  Now that is a hard thing to do and rarely are we successful.  If you are not familiar with the loan, it is one that the government will subsidize so your payments are very low for a very nice house.

We chose the house;  the funding was available;  we were waiting for the appraisal.

She called me up and said, "I've changed my mind about the house.  I drove my boy friend by it and he said he couldn't live there and he convinced me that I should buy a mobile home and place it on his land."  Just like that!!  Boy friend sways her to do something she is probably not wise to do!  I warn her about the possibility of her putting her money into a mobile and not owning the land.  If they split, she'd have to move the mobile home off.

Later, as we sat around and I cried over my bad luck they all agreed that it wasn't a good idea.  What I loved most was the last statement.....

"That's right.....she'd have to move it and she couldn't even take her septic tank with her!" 

Michelle Way
AVALAR Pro Realty - Jackson, MS
ABR, GRI, WCR
I have a USDA 502 Direct loan closing at  the end of this month. I understand....... We were waiting on funding in October so the people decided to build and take a chance on getting more funding. We did the walk through Thursday and closing the 31 of this month. Thanks for the post
Jan 18, 2008 01:33 PM
Barbara S. Duncan
RE/MAX Advantage - Searcy, AR
GRI, e-PRO, Executive Broker, Searcy AR
So Michelle you know why I was crying!  They are wonderful for the buyer and so hard to get.  To build something is really rare.  We don't have a builder who'll work with us here.  Thanks for comments.
Jan 18, 2008 01:41 PM
JL Boney, III
Coldwell Banker - Columbia, SC
Columbia, SC Real Estate

I feel your pain. Between mid December and the first week of January three of my people changed their minds about the deals I was working with them on.

Jan 18, 2008 02:15 PM
Jen Hudson
Windermere Real Estate/M2, LLC - Stanwood, WA
Stanwood, Camano & Arlington, WA

LOL!  I don't know that I'd want to take the septic!  Maybe it's best to start new on some things.

Jan 18, 2008 02:35 PM
Barbara S. Duncan
RE/MAX Advantage - Searcy, AR
GRI, e-PRO, Executive Broker, Searcy AR

JL, I hate starting over at the first of the year, don't you?   Thanks for comments.

Jen, septics cost a lot to put in.  Lots of land is sold "on contract" for people who then pull in mobiles and set it up with septic, wiring, etc.  If the trailer-owner misses one payment the contract-owner can reclaim the land and when he gets it back he has the improvements and can sell it again for more money!  It's a good deal for the contract-owner.  Thanks for comments.

Jan 18, 2008 11:38 PM
James Downing - Metro DC Houses Team REALTORS®, CRS, GRI, ABR,MRP, MilRes
Real Living | At Home - Washington, DC
When Looking to Buy or Sell - Make the Right Move
Well at least she gets to leave a "gift" on her boyfriends land!!   If the boyfriends opinion was so important - why the heck didn't he look at it BEFORE you wasted your time!  People can drive you nuts if you let them!
Jan 18, 2008 11:48 PM
Barbara S. Duncan
RE/MAX Advantage - Searcy, AR
GRI, e-PRO, Executive Broker, Searcy AR
James, good thinking!!  Too bad the gift is underground!  She looked and looked without the boyfriend saying she was going to do what SHE wanted to do and not what HE wanted her to do.  Then she waffled.....the power of men......infuriating!!
Jan 19, 2008 10:14 AM