There are many things to consider when buying (or selling) a manufactured home. But the top three things that come to mind are critical when considering buying or selling your manufactured home.
1. Moved Twice
When someone replaces a manufactured home, they will sometimes sell it to another party who sets it up on a new lot. This is a very affordable way to buy a home and have a place to live. Usually there is a deal to be had when buying a used manufactured home. One problem that comes up on a twice moved manufactured home is that lenders don’t like to lend on them. They check DMV records to make sure that the home is sitting in its original placement.
2. HUD Sticker
The HUD sticker indicates that the home was built after June of 1976. This is critical to lenders, as the homes built prior to 1976 are considered to be built to too low of construction standards. The HUD sticker can be found in a couple locations, but it is tricky to find sometimes. The one on the outside is often painted over. Sometimes one can be found in the door jamb of the front door and other times in the water heater closet. In the event that you cannot find it, you may need to get the serial number and do some further research.
3. Tie Downs
Tie downs are seismic straps that keep the home on its foundation in the events of high winds or earthquakes. Most manufactured homes are NOT installed with tie down straps in the Grants Pass area. But 50% or more of the loans out there require them. So if you are buying or selling, having the straps installed can prevent delays on the deal.
Want some help on your next transaction? Just let us know and we can guide you from start to finish.