Buying mobile homes in foreclosure is really the same process as buying regular homes. Mobile homes are prefab and modular homes and offer some of the cheapest purchases on the market, as well as solid investment opportunities. The return on investment can be as high as that of townhouses or apartments, and quite a few mobile homes are very sophisticated and lavish. They are also good properties that can be rented out to renters.
To find any type of foreclosure for sale, you can go to one of the many online foreclosure websites. Some of the best known are Foreclosures.com, Foreclosure.com, RealtyTrac.com, and RealtyStore.com, but there are many more.Most of these sites offer free week-long trials so you can test the waters and see if it’s worth upgrading to the paid membership tier.
When looking at these websites, try to choose those that offer customer service and a listing of all types of property (foreclosures, auctions, etc.). The more information you can find about foreclosure mobile homes, the better. You’ll want to check the neighborhood and community, the number of beds and bathrooms, and if possible even a search based on how much you’re willing to pay. You may also find offers in magazines, newsletters and newspapers for real estate or mobile homes. , or you can contact lenders for listings of real estate foreclosuresSince the foreclosure rate is so high, you shouldn’t have too much trouble finding this type of agent. To really get things done professionally, you can also look for an agent who only deals in RVs.
It is in your best interest to obtain pre-approval before actually bidding. Remember that pre-qualified and pre-approved are not the same and you want to maintain pre-approved status. It will save you a lot of headaches in the future if you can get this under your belt. It’s harder to get pre-approval today precisely because the banks don’t want any more foreclosures.
Once you’ve found a few mobile homes for foreclosure, you’re inOf course, you also want to have some kind of inspection. Keep in mind that dealing with foreclosures takes a little longer than the normal process of buying a home (which already requires a lot of patience, paperwork, and time). But you’ll be glad you persevered if you live in or rent your mobile home.