Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 9 years ago on . Most recent reply

User Stats

3
Posts
0
Votes
Stephanie Grant
  • Sapulpa, OK
0
Votes |
3
Posts

Selling manufactured home but keeping the land it's on

Stephanie Grant
  • Sapulpa, OK
Posted

Hello experts!  I'm not a real estate pro -- just a homeowner looking for some guidance on how to handle our situation.  We own land near my husband's family and had put a new double-wide manufactured home on it in 2003 as we raised the kids.  We had planned to build our retirement home ( downsize a little) once the kids were grown - that's not happened yet, we still have two at home.  Fast forward 11 years -- our neighbor (non-family) built a home on his property adjacent to ours in 2002 and was getting ready to lose it in foreclosure last year.  We approached him with a short-sale offer and he and the bank accepted.  We walked into it with about $25K in equity and decided to move into that home after we did some rehab work and repairs.  Now we want to sell the doublewide off our original land but retain the land (we have a micro-ranch raising a few head of a cattle) but we are hearing that no one will finance a used mobile home so we aren't sure what the best options are for advertising the house to sell.  We don't want to carry the financing and we don't want to have renters but I am ready to have just one mortgage again.  We have enough equity between the two properties to refinance but the bank says that we can't finance with two dwellings on the same mortgage so we need to remove the MH.   What are your suggestions?  Thank you, in advance!

Loading replies...