…even though it is by no means a done deal. We have made an offer on a mobile home that I have admired for a while now. The asking price was $207,700. We offered $200,000, and it was accepted immediately. THEN I started to feel guilty!
It is a beautiful unit, well maintained and beautifully updated. The unit was built in 1981 (coincidentally, the year we were married!), which is the limit that we were able to get a mortgage on. There are lots of units out there that are older, but beyond 1978, it is almost impossible to get a mortgage on them. Why? At a certain point of age, the homes are more of a liability than an asset.
Let’s be honest, these are trailers. More beefed up than your average camping unit, but the similarities exceed the differences. Now, since there are designed as more permanent homes, they are made much sturdier, and now are ‘earthquake proof’, meaning that the entire frame is considerably more durable. This is essential in this part of the world, as you can imagine. San Andreas looms large!
Without further adieu, here it is:
And this is some of the inside shots…… hope this link works!
It is a 2 bed 2 bath 1300 square foot garage unit (aka ‘immobile home’). The vendor is our age, but is currently retired, and very VERY anxious to sell his home, buy a motorhome, and tour the country. He removed the original kitchen cupboards, and carefully reinstalled them along the back wall of the garage. The new kitchen suite has Corian counters with a built in sink, with solid wood cupboards featuring slide outs in all the cupboards. The same was done in the laundry room, which is right off the kitchen.
The good news is, the mortgage is approved. The bad news is, we don’t quite meet the credit score restrictions. Why is that? TOO many agencies have been poking in our files. verifying, investigating, sniffing and snooping. Every time there is an inquiry, it doesn’t bode well for us. It shouldn’t work that way, but realistically, it does.
For example, we have applied for a Target charge card TWICE. Both episodes caused drops in our credit rating, but neither resulted in us being approved for a Target charge card. Meanwhile, we’ve been approved for many other cards, and no longer think that the discount from having the Target card is worthwhile. Besides, they did a nasty to the Canadian market by not giving them sufficient time to get used to them!
Our agent, Louise, called us this morning, wondering if we had submitted all the paperwork to the park. I explained that I had taken it in on Friday afternoon, but the clerk said that I was missing bank statements. Uh, we thought that pay stubs were enough! Apparently, this young lady read the OR as an AND. These folks want SO MUCH documentation to verify income, and incipient wealth!
Louise agreed, this was TOO MUCH. She assured us that our approval would be imminent, once she takes the park manager aside, and straightens her out. We’ll see how that works…..