Mobile Home Value: Used Mobile Home for Sale

There are various reasons why people opt to buy preowned mobile homes -

• Used mobile homes cost considerably less than brand-new mobile homes.
• You can buy homes that, though not new, are in good condition and have the same features as the new homes.
• You can buy a home that is already set up in the area of your choice.
• 
  You're looking for a low-cost holiday home.

You need to know exactly what you want before you purchase. So make a list of all the details and feature you would like in your mobile home. Here are some things to consider -

• What kind of mobile home do you want?
• What size of mobile home will fit your requirements?
• What are the features you want in the mobile home?
• What is your budget for a mobile home?
• Would you pay more for some extra features that are not utterly necessary?
• In which area would you prefer to live and in what kind of community?

Once you know what you want, you can get started looking for a mobile home -

• Visit mobile home retailers and ask if they have a list of mobile homes for sale.
• Contact local estate agents and ask about mobile homes for sale in the area.
• Visit a mobile home rental community office and ask if any of its members are looking to sell their mobile home. Buying directly from the owner will save the money you would pay in commission, but you need to be very savvy regarding paperwork and all other legal formalities.
• Check the bulletin boards in rental communities and see if anyone is listing their mobile home for sale.
• Check classified advertisements in local newspapers.
• Search online for mobile home sales.

After locating a mobile home that you like the look of, don't rush into concluding the sale -

• Check the year in which the home was manufactured. Avoid buying a home that was built prior to 1977. These houses were not built according to HUD standards – the HUD code was set up the US government to establish a design, building and safety standard all mobile homes. Without a HUD certificate, you will have a hard time getting financing for the mobile home, aside from the fact that you won't have any guarantee either regarding how structurally safe the home is.
• Check the mobile home thoroughly. Does it look well-maintained? Is it structurally sound? With the owner's permission, get a professional appraisal done. Also get a written assurance from the owner that the mobile is in fine condition.
• Check if repairs are necessary and to what extent. Will the seller take responsibility for undertaking the repairs? If they are, make sure you have it in writing.
• Check the neighborhood or community park where the mobile home is located. Is it a well-maintained area? Does it seem safe? Do the people seem friendly?Is it situated close to local schools or shopping areas?
• Check how the asking price for the mobile home compares with the prices of other mobile homes of the same type and in the same area. Try to find out exactly what the mobile home is worth.
• Check if the mobile home can remain where it is located after you purchase it.
• Check if the mobile home community office approves of the sale and approves of you as a new owner.
• Check at the community park office for information regarding taxes and monthly fees. Ask for written copies of rental agreement, maintenance agreement, rules, regulations and restrictions. Get updated copies of zoning laws, restrictive covenants, water, utilities and sewage requirements.
• Contact different financing companies and compare different financing options. Generally, mobile homes depreciate in value and used ones in particular are not looked upon as a great investment opportunity. Most financing companies will through checking your credit profile and will refuse you a loan if you have a less than excellent credit ranking.
• Once you get the financing, make sure you understand all the financing terms correctly and check that the conditions are not the sort that can alter to your detriment in the future. As much as possible, get a loan for a shorter duration than for a longer one.