If you are considering purchasing a repossessed mobile home, try to get an accurate idea of its condition. You might also want to find out what the value of this trailer is. Think about the reputation of the seller when shopping. You might also want to check with your local court clerk to see if any liens or claims for money owed have been placed on the property. Also, determine what it will cost to move this home to another location, if need be.
Inspect the mobile home carefully to get an idea of what repairs might be necessary, if you were to buy it. You may want to hire the services of a professional home inspector so you can know if heating units, wiring, plumbing, and appliances are working properly. In many instances, you can use the anticipated cost of fixing these things as a tool for negotiation on the price of the repossessed mobile home.
Compare the value of other trailers that are approximately the same size and age to the one you are considering. That way, you can get an idea of whether or not the asking price of the repossessed mobile home is a fair one. If it seems to be too high, you may want to consider having a real estate appraiser look at it and give you a professional report.
Think about the company that is offering the repossessed mobile home for sale. Consider how long it has been in business and whether or not you know other people who have had businesses dealings with it. You may also want to check with an organization that handles complaints of fraud. In the U.S., this is usually the Better Business Bureau (BBB).
It might be a good idea to visit your local courthouse to see whether or not there are liens, which are legal claims for money owed, against this property. This is especially true if land is included along with the repossessed mobile home. If there are such claims, you should make sure these are paid off when the property is sold to you, so you cannot be held responsible for them later.
If the repossessed mobile home cannot remain where it is when you buy it, determine where you might want to move it. Check with several mobile home movers in your area to get an idea of what it might cost to take it from one place to another. Consider this amount when making an offer to purchase the trailer.
Buying a repossessed mobile home can be intimidating for some people. That anxiety is not completely unfounded, as there are many factors to consider when doing so. Choosing carefully could, however, result in a home purchased at a fraction of what it would cost otherwise. This means that all the work involved may be worth it in the long run.
