What costs are needed when buying a manufactured home in a park?

Question

The home is a 1040 sq ft. double wide used and located in a mobile home park. What costs in addition to the cost of the home will be needed at closing

Answer 1

Before buying you must be approved by the Park.  They screen all of their tenants.  The costs to you will be escrow fees, prorated taxes, and other miscellaneous fees.  If you hire a Realtor, he or she should have given you a Buyer's Net Sheet which will give you an estimate of all costs incurred.  And don't forget the monthly space rent which may or may not include you utilities.

Answer 2

You'll want to ask the lender what the closing fees will be.  Each company is different.  They also may want you to pay for a full years insurance up front.  If the mobile home is in a park you'll also have lot rent to pay for, but that would go to the park owner.