Another Comment Worth Reading
This entry was posted on 10/3/2008 11:52 AM and is filed under Modular Home Buyer's Guide.
Just to make sure that potential manufactured and modular home buyers are aware of the pitfalls, especially with Champion Genesis Redman, I occasionally comment on comments and post them when they are particularly informative, as is the one below.
"To those considering a
modular, please, please, please take warning and learn from our mistakes before
entering a purchase contract.
1. Be sure your contract includes a date of completion. You are told 60-90 days
but mine took 15 months. I had to pay interest on the construction loan of over
$900 per month while it sat there and I was paying rent elsewhere. Countrywide
would not let me discharge the dealer to allow me to hire another contractor to
finish the job without a release from him.
2. Be sure you have the correct info re: when the house was built, model
number, etc. I was told it was a new home, have since learned it sat on the
dealer's lot for 1.5 yrs with no protection, roof covering etc. There is
significant damage that I was not aware of. The home was built late in one year
but since they use a system like cars it was considered a newer year model.
3. These homes only cost around $70k. Be sure you are getting a reasonable
deal.
4. I am now looking at close to $200k in damages thanks to a dealer who used
unlicensed contractors, has closed his business and did not get the house
installed properly. I guess I am lucky, he took a million dollar down payment
on a contract from another group and never delivered a home to them. Be sure
you check the dealer out extensively, the better business bureau is not
complete, you must check with the licensing agency that licenses the parties
involved. DO a public records request on any and all complaints for the party
you are considering.Check court records. This way you will have a better idea
of what other people have experienced. I learned to do an exhaustive research
up front, later is too late and $70k later in atty fees and experts.
Be sure the dealer is financially solvent. Does he have everything hidden
behind an LLC or corporation?"