What to Pay for Mobile Home - Posted by Elizabeth (NJ)
Posted by Elizabeth (NJ) on August 14, 2003 at 13:42:54:
I have the opportunity to buy a MH here in Northern NJ (for me to live in) and have some questions.
MH prices in other parts of the country, including MD, PA, DE, are a lot lower, but here in this area of NJ (across the river from downtown Manhattan), the homes stay high priced. Anyway, here’s what I’m looking at
12 x 65 older Mobile Home, owner thinks it’s late 70’s
2 BR, 1 BA, LR, big EIK, small room for W/D hookup.
Owner has completely remodeled home including putting up regular sheetrock walls inside, new pergo flooring in kitchen, hallway; she installed central AC & heat, new roof, new windows, etc. It’s a nice little home with a fenced yard 10 x 65. The home is in a park which sits right along the river across from Manhattan with a terrific view of the water, NYC skyline, boardwalk for walking, fishing, etc. It’s also about 1 block from a boat dock and pier.
She advertised the home for $35,000, and says she’s selling because her company is moving her and she’s buying a house in another part of the Northeast. I asked her where she got this number and she said a local realtor appraised the home at that price, but that she was willing to lower the price a little.
I don’t have $35K and the MH financing companies I checked with all said the home was too old for them to handle.
I thought about offering her a downpayment and asking her to hold a note for the balance, but her statement that she was buying another house led me to believe she needs cash.
I would appreciate any suggestions as to how I can make this deal work for me because I want to move from my apartment and this home is perfect for my husband and me.