mobile home won't appraise - Posted by rb


#1

Posted by phil fernandez on November 17, 1998 at 19:25:23:

rb,

Many mobile home owners are upside down with their mortgage meaning the mortgage balance is higher than what the mobile will sell for. One way to get more for your mobile would be to become involved with the financing and offer a wraparound mortgage to your buyer. Buyers will pay top dollar for owner financing.


#2

mobile home won’t appraise - Posted by rb

Posted by rb on November 17, 1998 at 19:03:10:

My mobile home is under contract to be sold at $33,500 through a realtor.

The appraisal came back at ~$21,000. I owe ~$24,500.

What can I do? thanks RB


#3

Get professional help! - Posted by Bill Mooney

Posted by Bill Mooney on November 17, 1998 at 22:47:39:

RB,

Have your realtor look at the appraisal and offer any suggestions. Obviuosly you listed the property at a price for a reason (recent comparables) and the buyer was willing to pay the negotiated price.

Something doesn’t jive. The appraiser could have missed the mark or the buyer didn’t shop much. Read the report and don’t be afraid to ask the appraiser questions.

Beyond that…you could ask your lender for a short sale.

Bill Mooney