Q:

How do you find repossessed modular homes for sale?

A:

Quick Answer

Find repossessed modular homes by checking online listings of foreclosures, as BankForeclosuresSale.com recommends. Narrow your focus, and make a site visit to determine whether the properties you select are a good fit, as RealtyTrack suggests. Additionally, Bankrate advises that you have a loan pre-approval ready before negotiating a deal for a reposed home.

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Full Answer

Browsing foreclosure listings lets you find an agent who works directly with the financial institutions that own repossessed homes, and make inquiries to the agent about the property you are looking for to find out about homes that are yet to feature on the listing database, according to Bankrate. Be persistent in checking for new foreclosure listings to find a property that matches your search criteria, advises RealtyTrack.

Have a checklist of desired amenities and features to ensure your search remains focused on finding a property that matches your criteria and works for your needs, says RealtyTrac. Narrow your list to a few homes, and then make an in-person site visit to your short list to evaluate each house and determine its suitability.

Ensure you have a loan pre-approval at hand when negotiating for a sale deal because bank-owned foreclosures sell quickly, which means that you may not have time to iron out a financing deal in case you don’t have one, as Bankrate explains. Also, consider hiring a qualified tradesman to assess and repair the home since repossessed homes are sold as is.

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