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Updated almost 10 years ago on . Most recent reply

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Stephanie Grant
  • Sapulpa, OK
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Selling manufactured home but keeping the land it's on

Stephanie Grant
  • Sapulpa, OK
Posted

Hello experts!  I'm not a real estate pro -- just a homeowner looking for some guidance on how to handle our situation.  We own land near my husband's family and had put a new double-wide manufactured home on it in 2003 as we raised the kids.  We had planned to build our retirement home ( downsize a little) once the kids were grown - that's not happened yet, we still have two at home.  Fast forward 11 years -- our neighbor (non-family) built a home on his property adjacent to ours in 2002 and was getting ready to lose it in foreclosure last year.  We approached him with a short-sale offer and he and the bank accepted.  We walked into it with about $25K in equity and decided to move into that home after we did some rehab work and repairs.  Now we want to sell the doublewide off our original land but retain the land (we have a micro-ranch raising a few head of a cattle) but we are hearing that no one will finance a used mobile home so we aren't sure what the best options are for advertising the house to sell.  We don't want to carry the financing and we don't want to have renters but I am ready to have just one mortgage again.  We have enough equity between the two properties to refinance but the bank says that we can't finance with two dwellings on the same mortgage so we need to remove the MH.   What are your suggestions?  Thank you, in advance!

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