Can someone help me determine the value of a mobile home?

[Diane Schuster]

I searched the forums and couldn't find a single post about mobile homes. Therefore, I must be doing something wrong (ie. not searching correctly). Since I can't find any existing discussions on mobile homes, I'll post my questions in my own post. I know this isn't technically real estate so the process of buying and selling it will be different.

My partners and I have a lead on a mobile home in West Chester, OH. It is in a mobile home park ($550 lot rent). What do I need to check out to determine it's value? Also, what do I need to be aware of? I know we should check with the park management to make sure the lot rent payments are current. What else do we need to know?

I did a quick search on the Internet and learned that there is something like a Blue Book value that is used for cars. I would imagine I need to know the manufacturer and the year of the home. How can I check that there aren't any liens outstanding against it?

FYI, our plan would be to wholesale the home.

Thanks,

Diane

[Diane Schuster]

@Rachel H.

Thank you. That's great advice.