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#315889 - 12/02/09 07:30 AM
Las Vegas Mobile Home Sale Question
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Member
Registered: 07/24/06
Posts: 68
Loc: Houston, TX
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My family has inherited a mobile home in N. Las Vegas in a mobile home park. Other family is out there now to meet with an agent soon. Getting some conflicting information on the LV mobile home situation. Someone told us the mobile home would need to be "on land" to be considered for resale or for the ability of a purchaser to finance. Its in a mobile home park and is not lowered to a slab or pilings...not sure how all that works but supposedly we'd need to spend about 3k to have it lowered and secured. Someone also said its impossible to finance a mobile home in Vegas--that buyers would need to have cash. If anyone could shed some light on this I'd appreciate greatly. Also, we know Vegas is all short sales, foreclosure, etc right now. What should we do for pricing to sell it quickly in light of the situation out there now?
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#316062 - 12/03/09 11:46 AM
Re: Las Vegas Mobile Home Sale Question
[Re: Clear Lake Houston]
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Major Contributor
Registered: 04/12/08
Posts: 4458
Loc: Vermont's North-East Kingdom
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One good thing about Mobile Homes is that they are "MOBILE". At least they start out that way.
Yours still sounds particularly "mobile" if it isn't even sitting on any kind of foundation (and presumedly doesn't have any add-on porches, carports or any of those other pesky additions).
Depending on its age, I'd look into what it might cost to move it . . . . move that puppy back to Texas where you can put it on some cheap lot (owned) where you can more closely supervise site prep and the sale. It should be worth a lot more there than where it is now . . . . shouldn't it? My experience is that, with Mobile Homes, the "Whole" is worth much more than the Sum of the Parts (Unit, Lot & Site Improvements).
That might involve an up front expenditure of $10,000 or $15,000; but it'll be out of that Trailer Park and the rent will stop. Just take a moment and push the numbers before saying "it's a Las Vegas Mobile Home" . . . . cuz it isn't until you nail it down or secure it permanently to that foundation.
Just "Thinking outside the Box" . . . . or outside the Tube; outside the Tin Can; or whatever they call Trailers these days where you are. There are a lot of people who are set up to make these moves and are currently lacking a very much business, so you might get a good rate on such a move; but my numbers could be way off.
PS: As part of my Continuing Education, I just had an encounter with a Seller up here who bought himself a cheap Mobile Home in a nice (55 and over) Trailer Park in Florida. He got a really good deal on a 2004 26' X 44' Doublewide with Carport for a mere $14,000. He was thrilled until he discovered that the Lot Rent in the Park where he bought runs $617 per month. (That includes trash pick up and lawn mowing!) Now the "New SnowBird" is Cryin' in his Beer. It'll cost him more to rent than it did to own up here; so now he has to sell here fast! . . . . hence my Listing of his regular stick built house.
Edited by Vermont (12/03/09 02:24 PM) Edit Reason: Added PostScript
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Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont Where We're Always Striving To Put Together "THE FAIR DEAL"
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#316178 - 12/04/09 04:36 AM
Re: Las Vegas Mobile Home Sale Question
[Re: Vermont]
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Major Contributor
Registered: 11/15/06
Posts: 1984
Loc: The Middle of the Interstate
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Dale - Shows how stupid people can be.
Didn't this guy at least get something that shows how much the lot rent was? Did he buy FSBO or builder or park owner?
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Broker-Owner Thirteen Years REO Experience GRI,CRS,CRB,e-Pro
Some days I feel like the bug, other days I feel like the windshield
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#316184 - 12/04/09 06:47 AM
Re: Las Vegas Mobile Home Sale Question
[Re: PA Roadkill]
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Major Contributor
Registered: 04/12/08
Posts: 4458
Loc: Vermont's North-East Kingdom
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It appears to have been was some kind of FSBO that he found out about on eBay or Craig's List. He bought it from another "Snow Bird" who lives in Michigan. He said it was a "No Brainer" and such a good deal that he didn't even want to tell his Confidants up here about it. The Seller sent him a key and he went to look at it. It was such a good deal he didn't want to tell any of the neighbors in the Park about it, or ask too many questions . . . . ever fearful that someone else would buy it out from under him.
He wound up sending a Cashier's Check to the Seller's Attorney in Michigan, and they sent him the Mobile Home Bill of Sale. Seemed on the up and up, Maybe the Park Rents were in arrears; but that must be small potatoes. The place was fully furnished too! It's adjacent to an 18 Hole "Gulf" Course [sic]. Plus they have shuffleboard!
Now his Wife has left him and he needs to quickly sell the Double Wide in order to pay his Divorce Attorney. The House up here needs to be sold and the proceeds split with the Wife. They need to get "Top Dollar" for it in order to "Make up for their losses down there".
So goes his retirement. He's not so happy with himself these days; actually quite ornery. At least his Wife agrees with him that something or someone is a "No Brainer"!; but she's not saying it in a very flattering way. (It's a little tense over there) I also noticed that his flimsy little ads for the Doublewide neglect to mention the Lot Rent. They're hoping that there's at least another someone out there more gullible than them (him).
Thanks for reading.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont Where We're Always Striving To Put Together "THE FAIR DEAL"
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#316240 - 12/04/09 03:31 PM
Re: Las Vegas Mobile Home Sale Question
[Re: Vermont]
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Major Contributor
Registered: 11/15/06
Posts: 1984
Loc: The Middle of the Interstate
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Florida has a special division separate from the real estate commission that promulgates rules for condominiums and mobile homes. And there are literally millions of mobile home rental parks in FL, both age 55+ and non age restricted.
He might want to check to see if there are disclosure requirements for mobile homes like there are for other residential real estate. I would guess there probably are. For condominiums there is a whole list of documents that must be provided the buyer and the buyer has a review period once he acknowledges receipt of those documents.
An out of state buyer, an out of state seller and an out of state attorney are a recipe for disaster anywhere.
_________________________
Broker-Owner Thirteen Years REO Experience GRI,CRS,CRB,e-Pro
Some days I feel like the bug, other days I feel like the windshield
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#316242 - 12/04/09 04:01 PM
Re: Las Vegas Mobile Home Sale Question
[Re: PA Roadkill]
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Major Contributor
Registered: 04/12/08
Posts: 4458
Loc: Vermont's North-East Kingdom
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Thanks for the information. I'm not involved in that aspect of this Guy's Life; so I'd be rubbing salt in his wounds to bring it up. As his Estranged Wife said "You got yourself tied up in that mess . . . . and you can find your own damn way out." I'm agreeing with her (silently).
Still, if the opportunity arises where I can feel safe to mention that he might find recourse with the Authorities in Florida, I'll mention it. I'm sure you realize that some of these people become suicidal when things appear of have all fallen apart. And others are prone to mis-direct their hostilities. I try to stay clear of the Firing Zone.
Thanks again!
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont Where We're Always Striving To Put Together "THE FAIR DEAL"
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#316317 - 12/05/09 08:29 AM
Re: Las Vegas Mobile Home Sale Question
[Re: Clear Lake Houston]
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Major Contributor
Registered: 04/12/08
Posts: 4458
Loc: Vermont's North-East Kingdom
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Just to verify my thoughts on the costs associated with moving one of these units a long distance, I just talked with a Client/Friend who has come to make a business out of buying, selling, trading, and moving Mobile Homes (mostly in the 6 New England States; but sometimes further). My Friend says to budget $5.00 per mile (that's on the side) to move that Unit from Las Vegas to Texas. If it's a DoubleWide, then plan on about $8.00 per mile for the two halves. There's additional cost to prepare it for moving and set-up at the new site; but that would be present whether the move is 100' or over 1000 miles. He said a Company named Snader Transport out of Minnesota really knows what they're doing in this regard - like the United Van Lines or MayFlower of Mobile Homes. Also, here's a list of Mobile Home Movers in Nevada: Nevada Mobile Home MoversIt's something to think about anyway. It sounds like a big project; but it doesn't have to be. Like I said above, one of the benefits to a Mobile Home is that it's "Mobile"; and $10-15,000 isn't too far out of the ballpark. If the market is bad one place, take it to another! Push the numbers and get it out of that "Mobile Home Park".
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont Where We're Always Striving To Put Together "THE FAIR DEAL"
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#316431 - 12/06/09 09:58 AM
Re: Las Vegas Mobile Home Sale Question
[Re: super realtor]
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Major Contributor
Registered: 04/12/08
Posts: 4458
Loc: Vermont's North-East Kingdom
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I had presumed that this is a New Unit, since it is not yet fully installed in the Park. But maybe it's a used model that the decedent brought in from a Dealer . . . . the OP will have to clarify.
Every Family has a different pain threshold. The OP said his "Family" inherited the Unit. That may mean his Texas Nuclear Family (He, his Wife and Kids); or it may mean an Extended Family made up of Siblings and other Relatives spread out over the Universe. The OP will have to clarify that too.
If it's the former, then they all are one financial entity; but if it's the latter, then different Family Members will be in a variety of financial circumstances. Some won't want to be bothered with this trifling matter. Others may find it to be a windfall. Isn't that always the fun part of dealing with an Estate? . . . . and a multitude of Decision Makers? Making a few thosuand dollars may be worth it for some people, and not worth the effort for others. I do know that few thousand dollars is "high finance" for some who have nothing. Who can say these days? I won't judge.
I have some relatives who won't bother to cash a check for less than $10.00; while others will make a special effort to bend over and pick up a penny or retrieve a Soda Bottle for the 5¢ Deposit. Someone in the Family should push the numbers and see what this thing is worth . . . . there in Vegas, or re-located somewhere else. Then the "Family" might be able to make an informed decision. As Super suggested, the thing may be worth so little that the accumulated Lot Rent may soon exceed the value of the Unit; and they may just want to abandon it. Many Park Owners acquire a portfolio of Units in this manner. It's another aspect of that "business".
One thing is for sure . . . . they don't have the luxury of the "Do Nothing" Option. The Meter in the Park is probably running, whether the Unit is installed and occupied or not; it's using that Lot and Rent is being accrued. If they don't do something, it will be done for (or to) them!
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont Where We're Always Striving To Put Together "THE FAIR DEAL"
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