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Updated over 5 years ago on . Most recent reply
MH - permanent foundation question
Looking at a foreclosure doublewide on land as a potential flip and I’m trying to get a clear understanding of what constitutes a permanent foundation. This home is from 2002 and on piers that appear to be dry stacked. It’s a foreclosure and owned by Freddie Mac, so at some point it was financed. Appears this is the original loan it’s origination was 2003.
As I'm looking to flip I'd like to understand more about what is considered a permanent foundation and what is likely to be able to qualify for FHA or other programs. Are piers permanent? Since it was financed originally should I assume it qualifies?
If not, can it be retrofitted with a permanent foundation? What are the options there? Homes are expensive in this area so retrofitting may be worth the expense if it’s an option.
Any help in this area would be greatly appreciated.