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  #1 (permalink)  
Old 09-05-2007, 10:49 AM
 
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Question Has anyone done a BMV deal with a Mobile Home?

Hi All

Does anyone know about or has personally had any experience of purchasing mobile homes Below Market Value?

I have been approached by a vendor who wants to sell asap. He said its worth £65k and want to clear £40k of loans. He is then keen to rent back if poss.

The thing is I have no experience of these types of property and wondered if there are any particular points I should be aware of. I am sure there will be an annual ground rent etc and I have heard of clauses relating to compulsary purchase of a new unit after every 20 year period but I am not sure about any of this.

Any thoughts of suggestions would be very welcome good or bad!

Thanks

Tony
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  #2 (permalink)  
Old 09-05-2007, 11:35 AM
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Try the search facility Tony. There have definately been previous posts.
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Old 09-05-2007, 11:53 AM
 
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Post Re Mobile Home

Hi Tony

We looked at buying a new park home ourselves a couple of years ago but finally gave up on the idea. We were told that despite some owners thinking they can make a profit on them they do depreciate. I am no expert in this field but there are also a lot of different makes and models on the market and some even new are only in the £30000 - £40000 bracket but some are considerably more. If you find out the make and model you should be able to check the price new by using the website for the company that makes them.

Is it a mobile or a park home? I may be able to help you with the website address if you can let me know the model.

Lizzie
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  #4 (permalink)  
Old 09-05-2007, 12:48 PM
 
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Thanks Rhys for the suggestion. I will take a look straight away.

Regards

Tony
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  #5 (permalink)  
Old 09-05-2007, 12:50 PM
 
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Hi Lizzie. To be honest I dont really know the difference, I will speak to the owner and get back to you as soon as I have an answer.

Regards

Tony
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  #6 (permalink)  
Old 11-05-2007, 08:52 AM
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Hey Tony! Long time no speak
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Old 11-05-2007, 02:30 PM
 
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Hi Deep. Yep its been far too long, hope to see you again soon at a networking event.
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