A trailer in a "lot rent trailer park" is for sale near where I live. It has been there for about 30 years.?
There is a storage building also there. It is similar to a garage. It is in very bad disrepair. How can I find out if the mobile home is possibly condemned, or if it is on the verge of being condemned. The trailer itself does have some large holes in the floor. This is in Texas. It is in an rapidly growing business area. Near DFW airport. The trailer itself is a 2 bedroom with an addon in the rear. My total lot fee a month would be $325. The price of the trailer would be $150 a month to buy, But it needs much repair also.The woman wants $3500 total for the trailer. Can anyone give me an Idea if this could be a deal. Thanks for your thoughts and advise ahead of time.
- mega-momaLv 51 decade agoFavorite Answer
First off most banks will not finance a mobile home these days, that is not new. Second of all, if this is an owner finance and you can afford to buy the property and pay for living elsewhere until the place is livable, then go for it. If you cannot afford to do the payments on both places and repair the home, then don't bother.
Finding if a place is going to be condemned is probably harder than you would think.
If it condemned there should be some sort of tag on the property to serve as notice it is an unsafe building and no trespassing should be done due to major safety issues.Source(s): About Capital Metro - News and Info - Capital Metro Transit - Austin, Texas Before your property is condemned, you are entitled to a hearing before a ... the property being condemned is located, the claim must be filed in that county [PDF] TEXAS LANDOWNER'S BILL OF RIGHTS 30k - Adobe PDF - View as html Before your property is condemned, you are entitled to a hearing ... least part of the property being condemned is located. ... in Chapter 21 of the Texas ... www.oag.state.tx.us/agency/landowners_billofrights.pdf
- 1 decade ago
$3500 for a mobile home with holes in the floor....
AND you're thinking it could be on the verge of condemnation?!
Do you have the funds to rehab the trailer? Are you buying for the land value? That may be a good investment. Then again, some real estate investments aren't looking so good right now.
As a mortgage consultant, I know there are STILL mobile home lenders. You will have to present a solid file to obtain their approval.
Not trying to be completely negative, but please think about every aspect of your possible investment.