You may want to consider separating the two and selling the mobile home for a portion of the total sales price and setting up the land as a lease/purchase until you are comfortable with the payment history and principal reduction on the mobile prior to transferring title to, and financing the land.

A price reduction is likely in order.

@Christine StefchakAn invoice probably meant an estimate to provide further info to lender to justify reduction from appraised value.

With enough digging you can find the run down, vacant houses and sometimes get lucky to engotiate the right price. 1 of the strategies I have been using is offering close to asking, locking the property up for a 10 day inspection and then using what we find on inspections or contractor walkthroughs to go back and ask for price reductions.

Simply principle reduction and a little appreciation or are you doing some renovation or increasing the NOI?

He said:One of the unintended consequences of exchanges, is the significant reduction of annual depreciation vs the same property acquired through ‘normal’ purchase.

It has no bearing on inspections or asking for reductions based on non obvious issues.

What kind of information would you need to bring to justify a reduction in property value?

It has been listed for 64 days and it started at $119K, but since has had 4 price reductions.

Even when subsequent neighbors had their speakers on the carpeted floor, the noise coming through the ceiling was much less (and tolerable).I keep a supply of noise-reduction ear plugs on hand.