Whats included in a morgage for a maufactered home?

Question

My fiance and I got approved for a home and were both really new at this whole thing.

Its $900.00 a month for a 3br 2bath($85,000) plus an acre of land fully set up($38,000)

So the total is about $130,000 and only a thousand down.

I have a couple questions.

1. Is that a good deal?

2. Will we have to get our own electric/water/sewer/trash/gas?

(I was talking to the guy from the company who is selling it and he was saying something about them being included but I have to get them switched into my name!?!?)

3. Any tips? Im really new at the whole home buying thing!

Thanks!

Answer 1

STOP!!! DO NOT DO IT!!!

Answer to your first question is NO.

This is not a good deal and you will regret it.

Answer to your second question is yes all of these utilities will be your responsibility and that is why you must put them into your name....if you are told otherwise you are being lied to!

Answer to your third question is yes...I have a very important tip for you.

Tip #1 If something seems to good to be true IT IS!

Tip #2 Never never never buy a manufactured home...ask anyone working in the real estate industry and they will tell you not to touch them....ask anyone in the home insurance industry and they will tell you the same...ask anyone in the general contracting/appraising/inspection business and they will all tell you not to buy a manufactured home.

Tip #3 Never buy a home of any kind until you have had it inspected by a certified professional and make sure the seller has no connection to the inspector...this is what is known as a conflict of interest.

Tip #4 If all you have to put down is one thousand dollars than you are better off renting as you do not have the financial stability required to be a home owner...renting is a luxury and a home can become a money pit.

Be very careful!

Answer 2

do not buy any mobile home or a manufactured home ever.

our insurance agent warned us strongly against it. they only decrease in value and they are worthless for equity. the only thing that is any good is the property they sit on. anything in a lot or community is completely worthless.

speak to your insurance agent. speak to a Realtor. you will regret buying anything manufactured.

when you do own a home ALL utilities are 100% your problem. not to mention the yearly propert taxes and up keep of water heaters, roofs and decks.