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mc8 · Joined: 08 May 2009 Posts: 11 5.70 Dollars($)

I have found a really great piece of land, to me at least. But it has some issues on it.

The listed price is $49,900. It is 5 acres of land in Northwest Arkansas. It has a barn and 2 storage sheds [not new] on it; it has a well, plus all the amenities for a manufactured house.

It did/does have a manufactured home on it, but it burned down last December. What is left must be hauled away and it looks like the owner IS NOT going to do that.

I was told by friends and neighbors of the owners of this place, they do not want to see it - they just want to get rid of it! They're now living in Arizona.

Can I make a lower bid on this property because of needing to remove the burned home as well as a burned deck and porch? Nothing is salvageable. And what kind of lower bid would be acceptable?

And will it be possible to get a mortgage on it? I have $5000 for a downpayment.

savior70 · Posted: Tue Jun 30, 2009 2:53 am Post subject:

Hi

You can surely make a lower bid on this property. The listed price is $49,900. But it does not mean you have to purchase the land at $49,900. You are free to negotiate with the seller and bring the sale price down. As the sellers are keen on getting rid of the property, you are likely to get a good deal if you do the negotiations properly.

It is difficult to say what kind of lower bid would be accepted. But you can get an idea of that, if you check the prices the lands in the neioghbourhood were sold for. Once you have the land title in your name, you can finance both the land and the mobile home with a mobile home mortgage loan.

Guest

Thank you for your encouragement!

savior70 · Posted: Wed Jul 01, 2009 4:53 am Post subject:

Hi

You're most welcome. Smile

However, if you have any more queries, feel free to ask.

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