I am a little skeptical about it

Anonymous 1

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We've been trying to move for months. My landlord keeps screwing us up. We can't move. Every place we try to get our landlord keeps screwing us. He keeps giving us bad references. He is doing this to keep us from moving.

We saw an ad for a double wide mobile home. FS, as is. It is a 1997. We've done a walk through twice. It needs a little work but nothing major. $1700 down and $344 a month for 48 months. $75 is lot rent. It wasn't the route we wanted to go but at this point it all we can do. At this point if we dont do this we're going to be stuck in this shit hole for years to come.. we have about $10k saved up. So we really dont have enough saved up to buy anything else. $10k isn't a lot of money.

We called her I am supposed to meet her tomorrow at 5pm. I am supposed to give her the money and she is supposed to take the cash to her attorney to sign the contract. I want to get the utilities turned on Tuesday. If I dont do it Tuesday I want be able to do it until March the 4th. I want to do it Tuesday so we can get in it next weekend and start making repairs before we move in it. She also doesn't know anything about the mobile home. She doesn't know if the central heat and air unit works, if the water heater works. Also she says we can't turn the utilities on until the contract is signed by her attorney.

My dh wants to do it. I sorta do but I am also little skeptical. I am worried we are getting ourselves in a money pit. It is always a risk to do a rent to own type of deal. What will be Paying a month is less than half of what we pay now. The repairs we will have to make will take a days worth if work. There are other repairs that will need to be done but they can be done once we move it.

Any advice at this point. I have never done Anything like this so I don't know what all we should do.
Anonymous 1

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For anyone wondering it isn't in a trailer park.
Anonymous 2

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Is the power on in it? How do they expect to do this if you can't turn on things? Have you called a real estate attorney to go over this contract?
Anonymous 1

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Anonymous 2 wrote: Sun Feb 23, 2020 2:29 pm Is the power on in it? How do they expect to do this if you can't turn on things? Have you called a real estate attorney to go over this contract?
Nothing is on. That is what worries me. She says after her attorney signs the contract then I can turn the utilities on. No I havent called a real estate attorney
Maybe that is something I need to talk to dh about doing .
Olioxenfree
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Yeah, I wouldn't be cool with that. If the air and water heater don't work and you live in a state where it matters to have Central air, there goes your 10k right there.
Anonymous 1

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Olioxenfree wrote: Sun Feb 23, 2020 2:36 pm Yeah, I wouldn't be cool with that. If the air and water heater don't work and you live in a state where it matters to have Central air, there goes your 10k right there.
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Valentina327
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Stop! Two things:

First - You can buy a real house with an FHA loan. You only need 3% down. So you could but a $100K house with $3K down. You can also usually get some credits from seller to offset your closing costs. You have $10K saved, so you have enough for down payment and to show reserves.

Second - Do NOT deliver cash into this woman's hand until you have signed documents. Meet her at the attorney with the cash in hand if that's where she's claiming she's signing the documents, but do not turn the cash over to her until you have a signed lease option agreement.

She can take your money then say she never heard of you. Be careful. You need these terms all in writing that you mentioned in your post.

Good luck.
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Anonymous 2

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Anonymous 1 wrote: Sun Feb 23, 2020 2:36 pm
Anonymous 2 wrote: Sun Feb 23, 2020 2:29 pm Is the power on in it? How do they expect to do this if you can't turn on things? Have you called a real estate attorney to go over this contract?
Nothing is on. That is what worries me. She says after her attorney signs the contract then I can turn the utilities on. No I havent called a real estate attorney
Maybe that is something I need to talk to dh about doing .
Definitely have a real estate attorney look it over. Rethinking it, since it's as is it doesn't matter if they ac works or not, but I would hope they'd be honest and turn the power on for a few days so you could check.

Do you have the money to replace the ac if the unit doesn't work or would you use portables and window units? What else does it need? Is it city water and sewer?
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Valentina327
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Anonymous 1 wrote: Sun Feb 23, 2020 2:36 pm
Anonymous 2 wrote: Sun Feb 23, 2020 2:29 pm Is the power on in it? How do they expect to do this if you can't turn on things? Have you called a real estate attorney to go over this contract?
Nothing is on. That is what worries me. She says after her attorney signs the contract then I can turn the utilities on. No I haven't called a real estate attorney
Maybe that is something I need to talk to DH about doing .
Then you write yourself in an inspection period where you can get out of the contract and are held harmless if these items are inspected and fail. Also, look for a home warranty that you can purchase which covers major systems.

As another poster said, consulting with an attorney may be beneficial since you're doing this private party with no realtor to look all of this over.
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Anonymous 2

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Oh, and with older mobile homes, you really need to step all over the floor, especially near sinks or showers. They have a tendency to get water damage and sag or rot due to the materials.
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