Manufactured Homes

Answers to Your Questions About Manufactured Housing

What is a manufactured home?

Manufactured homes, formerly called mobile homes, are built in a factory. Each home conforms to the US government's Manufactured Home Construction and Safety Standards (HUD code), rather than to building codes enforced at the home's destination. Each home or segment of a home is labeled with a red tag that is the manufacturer's guarantee the home was built to conform to the HUD code.

Manufactured homes are built on a non-removable steel chassis and transported to the building site on their own wheels.

Where can I find details about my manufactured home's build date and origins?

To find the date of manufacture, look for a data plate located inside your home, usually on or near the main electrical panel, in a kitchen cabinet, or in a bedroom closet.

The data plate offers information about the home's heating, cooling, and other appliances and components. The data plate also shows you the wind zone and snow load for which the home was built.

A red HUD label with a stamped serial number should be attached to the exterior of the home.

May I put my manufactured home on any lot or tract of land?

No. Some communities and developments do not allow manufactured housing. Research local zoning ordinances, deed restrictions, restrictive covenants, and other similar documents before purchasing land for a manufactured home.

May I move my manufactured home to another location?

Yes, but make sure you use a transport company that is familiar with the laws for moving such structures. You should also consider the zone for which the manufactured home was originally constructed. Never move a manufactured home to a zone with more restrictive wind, thermal, or roof load requirements than the zone for which it was built. Check the data plate for zoning information.

Climate differences and the cost of moving your manufactured home might make it more practical to sell it and purchase another at your new location.

Who will finance my manufactured home?

Many manufactured homes are financed with a retail installment contract, available through the retailer that sells you the home. Many lenders will grant a conventional mortgage for manufactured homes, but will likely require that the home is placed on a permanent foundation. Manufactured homes are eligible for FHA and VA home loans.

Is my new manufactured home covered by warranty?

Most manufacturers offer a warranty that covers the home and its systems during a stated warranty period. Some appliBlogger: Information On Home Buying Articles and News - Create Posthttp://homebuying.about.com/cs/manufmakers/a/manufacturedfaq.htmances may be covered by their own warranties. Before you purchase a manufactured home, find out which items are covered by warranty, who offers the warranty, and how warranty repairs are performed.

What if I have problems with my manufactured home?

HUD recommends that you first contact the retailer who sold you the home. If problems cannot be resolved, contact the manufacturer. If you still have complaints or concerns, contact HUD or a related state agency.

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How To Recognize a Manufactured Home

Manufactured homes are built to conform to the Manufactured Home Construction and Safety Standards (HUD Code), rather than conforming to building codes at their individual destinations. Today's manufactured homes come in many shapes and styles, and often do not resemble a typical single or doublewide mobile home. Here are some tips to help home buyers recognize manufactured housing.

Difficulty: Easy

Time Required: Varies

Here's How:

1. A manufactured home should have a metal tag on the exterior of each of its transportable sections. Walk around the structure, looking for a small, red metal identification plate. If it's not there, look for holes that indicate something might have been removed.
2. If you cannot find a tag locate the electrical panel box inside the home and open its door. Look for a data plate, which contains details about the home, including its date of manufacture. If the plate is not there, look in kitchen cabinets and bedroom closets. (Modular homes have data sheets, with references made about building inspections--which wouldn't be included for manufactured housing.)
3. Go back outside and look underneath the home. Manufactured homes are built on a non-removable steel chassis, which should be visible underneath. 'Double wide' manufactured homes are assembled from two units joined lengthwise, usually where the roof peaks.
4. Manufactured homes arrive on their own wheels. Can you see where wheels were attached? Are they still there?
5. Look again at the ends of the structure. Is there a vertical trim piece that indicates where two segments have been pieced together? Can you see where a 'tongue' might have been bolted to the structure? (Holding the 'trailer hitch' used to pull it to the home site.)
6. Are interior walls made from drywall or paneling? It's by no means a sure identification, but many manufactured homes (especially older homes) do not contain drywall.
7. Manufactured homes often have less of a roof pitch than a 'stick built' home. Keep in mind that manufactured structures vary in design, and newer homes in the manufactured category may look very much like modular or site-built houses.
8. If you still aren't sure, ask for a property disclosure from the home owner. The owner or listing agent should verify (in writing) what type of structure it is.

Tips:

1. Manufactured homes are built to conform to the same code, no matter where they will be delivered. Modular homes and site-built homes are both built to conform to all local building codes at their final destinations.
2. Not all lenders will grant mortgages for manufactured homes. And if they do, there may be specific requirements. Some do not make loans for single wide manufactured homes. Some will not grant a loan for a home that is not on a permanent foundation. Manufactured housing qualifies for Blogger: Information On Home Buying Articles and News - Create PostFHA and VA loans.
3. Many home buyers purchase manufactured housing as part of a land-home package.
4. Some communities and housing developments have restrictions against manufactured housing. Some deeds may forbid you to place a manufactured home on land, even if there are many manufactured homes surrounding the parcel. Get the facts before you purchase land for a manufactured home.
5. If the home's identification plate is missing, HUD can retrieve historical information from details on the interior data plate. If both items are missing, you may need to gather prior financing history from the current owners in order to complete your own financing.

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Home Selling - The Worst Home Selling Mistake a Seller Can Make

#1 Home Selling Mistake

There's a great saying in the real estate business. To succeed in life, you want to be:

• The First Child
• The Second Spouse
• The Third Realtor

And like with most sayings, there is some truth in that statement, as agents who pick up listings after sellers have made major mistakes will attest.

But We Want More Money

When the average seller sits down to interview real estate agents, it's easy to get caught up in the excitement over choosing a sales price. More money means more financial opportunities for the homeowner. Perhaps it means the seller can afford to buy a more expensive home, help pay for her child's college education or take that greatly overdue vacation. Unfortunately, uninformed sellers often choose the listing agent who suggests the highest list price, which is the worst mistake a seller can make.

Establishing Value
The truth is it doesn't really matter how much money you think your home is worth.
Nor does it matter what your agent thinks or ten other agents just like her. The person whose opinion matters is the buyer who makes an offer. Pricing homes is part art and part science. It involves comparing similar properties, making adjustments for the differences among them, tracking market movements and taking stock of present inventory, all in an attempt to come up with a range of value, an educated opinion. This method is the same way an appraiser evaluates a home. And no two appraisals are ever exactly the same; however, they are generally close to each other. In other words, there is no hard and fast price tag to slap on your home. It's only an educated guess and the market will dictate the price.

Is it Too Low?

Homes sell at a price a buyer is willing to pay and a seller is willing to accept. If a home is priced too low, priced under the competition, the seller should receive multiple offers to drive up the price to market value. So there is little danger in pricing a home too low. The danger lies in pricing it too high and selecting your agent solely on opinion of value.

How It Starts To Go Wrong

The seller of the Spanish home pictured on this page didn't even interview her real estate agents. She plucked the first one off the Internet because, "He looked like such a nice guy." He priced her home at $1.3 million. This agent never heard the local agents chuckling behind his back because he worked in a different city. After 90 days, the listing expired.

Continues To Go Wrong

The next agent, also from another town, listed the home at $1.1 million. Months passed. Eventually the price dropped to just under $900,000. Still no takers. A few lookie-loos, but no serious buyers.

More Than a Year Later

By the time the last agent was hired to list this home, the seller had grown weary and exhausted. It was now 12 months later. Together, the seller and her agent priced the home at $695,000. It immediately sold for all cash. The sad part is the comparable sales in the neighborhood fully justified a price of $835,000, but the home had been on the market for too long at the wrong price, and now the market had softened.

Agents Specialize in Expired Listings

There is an agent in my office whose basic real estate practice is comprised of calling sellers of expired listings and relisting them at market value. He sits in a small room with a phone, desk and chair, dialing number after number. Last year he sold more than 34 homes valued at more than $13,600,000, and he has 18 active listings right now. He makes a pretty good living repackaging overpriced homes.

Protect Yourself

The question is how much money have those expired listings cost the sellers? The financial loss often exceeds the extra mortgage payments paid and goes beyond the uncompensated hassle factor of trying to keep a home spotless during showings. It affects the value that a buyer ultimately chooses to pay because it's not a fresh listing anymore. It's now stale, dated, a market-worn home that was overpriced for too long. Don't let it happen to you. Don't be that seller of an expired listing.

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