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Well, now you've decided which dealer and which manufacturer's home you are interested in buying.

Congratulations . . . very important first steps.

Now, starts the work.  You need to make many decisions about the size, rooms, upgrades and other things that you want in the home.  Notice I said want rather than need.  This is where we all start.  We start with a wish list and then move on to what we can afford.

It is important to get everything on paper and in writing from the dealer you are talking to.  Don't let anyone hand you a piece of paper with a lump sum number.  You have no idea what you are getting with that piece of paper.  Important:  IF IT ISN'T IN WRITING, YOU AREN'T GETTING IT.

Before becoming a dealer I repeated this to many of my clients who purchased home sites from me and then proceeded to dealers to buy the home.  They came back with glowing reports of what they would get in their homes.  I asked to take a look at the paperwork the dealer gave them.  The paperwork was simple: Base Price for the Home, Transportation Cost and Estimated Cost to Install.  Nothing itemized the options that the client thought he/she was getting.  And, guess what?  Once the home was in place the client did not have the crown molding, ceiling fans, upgraded cabinets, 1 piece shower/tub enclosure, and the list goes on.

IF IT ISN'T IN WRITING, YOU AREN'T GETTING IT.

"But they said I would get everything that was in the model" bemoaned one of my distraught clients.  When she returned to the dealer and tried to see the model again, it was gone - it had been sold.  No backup for her, she was simply out of luck.

Now, what I'll say seems a bit counter intuitive.  Once you've decided on the dealer and manufacturer, don't get wishy washy and start flopping about like a fish out of water.  There are numerous manufacturers, numerous dealers and a plethora (did I spell that right) of upgrades, options and choices for any home.  You will confuse yourself very quickly.  Remember, you did your research on the dealer and manufacturer early on.  But, now you want to make sure that you are getting a fair price.  Notice I don't say cheapest price -- fair price. 

A good dealer needs to make money on the sale and have some room to give you good service.  Remember, you are buying a home, not a washing machine.  Only your dealer will give you after sales service, no other dealer will service your home for you.  So, get your ITEMIZED prices from your dealer, take it home to "think about it".  Don't sign your contract on the spot.  Then, take the itemized list to other authorized dealers for that manufacturer and without giving that dealer the prices, ask the dealer to price out the same home model and options.  Get the itemized pricing from the dealer and compare.  If the prices are within 5-10% on options and withint 5% on the home, then the dealer you chose is probably doing right by you.  You can certainly take the other dealer's pricing to the dealer you selected, but don't be too heavy handed, after all, you want a good working relationship with your dealer.

More Blogs to come on buying your brand new manufactured home.

 

 

3 Comments on More on Buying Your New Manufactured Home - Counter Intuitive . . ? ? ?

Interesting information.  How do mortgage companies treat resale of these homes?  Veronica

07/14/2008 07:58 AM by Veronica DeCarolis (Weidel Realtors)


Hello Veronica,

Thanks for stopping by.

All manufactured homes in Modoc County are placed on an engineered foundation, so they become real property.  The trick becomes, is the foundation FHA/VA Compliant, if yes, then you're good. Also, is there a certificate of origin.  This is important for FHA/VA financing because neither will finance if the home was sold by an individual and moved to its current location rather than sold by the dealer for installation at the site.  It makes a difference.  With older homes it can be a problem finding a certificate of origin, they aren't always surrendered to HCD once the home is placed on the foundation -- just had one of mine fall out of escrow for that reason.  Manufacturers only have to keep records for 7 years, so if the home is older than 7 years the manufacturer won't have any records. If you don't have the necessary paperwork, the loan won't go through.  Then there are other issues (especially in our county) with owners doing unpermitted work on a property -- that becomes a whole different set of problems to deal with.  If the home is older and was placed on site prior to the county requiring a foundation, then some homes can be retrofitted with a foundation making them financeable.  Most loans obtained by manufactured home buyers are not traditional financing.  Generally speaking, buyers of manufactured homes are not as financially secure and may have credit issues -- which means terms for their loans won't be very attractive, but that applies to stick built too.  There is no real simple answer, it just depends. Hope this helps !

07/14/2008 08:23 AM by Property Connections Realty Inc.


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07/14/2008 09:18 AM by Nelly


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Real Estate Brokerage: Property Connections Realty Inc.
Evelyn Panning
Alturas, CA
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Property Connections Realty Inc.

Office Phone: (530) 640-2411
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Dedicated to assisting buyers and sellers in Modoc County. Home Sites, Resale Residential, Ranches, Commercial and Brand New Liberty Manufactured Homes.


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