Q&As

• What is the difference between a real estate agent and a real estate broker?
• What steps do I go through to buy a house?
• How long does it take to buy a house?
• I want to buy a house. I know the property and the seller has an agent. Do I need my own agent or can I negotiate a lower fee if I act as my own agent?
• How much does it cost to use a Buyer’s Agent / Realtor / Broker?
• Working with FHA/203B, RD, VA, Section 184, 203K, Conventional, HELOC, and other types of financing?
• Real vs Personal Property
• Mortgages for Manufactured Homes
• What is a CMA, Appraisal, and AVM?
• Can the Buyer purchase personal property from the Seller?
• Can a mortgage be used to purchase a mobile home?
• What are the basics for handling multiple offer negotiations?
• Are husband and wife required to apply jointly for a mortgage?
• How do I prepare for a cash purchase?
• Do I need flood insurance?
• Where can I research flood maps / areas?
• To whom should I write the earnest money check?
• Should I buy a residential service agreement (i.e. home warranty)?
• Assuming you’ll be obtaining mortgage financing (i.e. not paying cash), here’s a list of steps to buy a house:
• Do I also need an attorney?
• How does the MLS help buyers?
• What is the MLS?
• What’s the difference between a Pre-Qualification Letter and a Pre-Approval Letter?
• When do I apply with a mortgage lender?
• What is Owner’s Title Insurance (OTI)?
• What is Lender’s Title Insurance (LTI)?
• What is title insurance?
• What does a title company do for Buyers?
• How can Harrah Realty help me as a Buyer?
• How much does it cost to buy a home?
• Do you work with out of town clients?
• Can you help me purchase or build a new home?
• Do you work with First-Time Home Buyers?
• What is a lease purchase or an option purchase?

Mortgages for Manufactured Homes

A manufactured home that is permanently affixed to land is an improvement to the land and therefore is considered real property.

Mortgages, by definition, are loans for purchasing real estate. As such, if a manufactured home is still mobile, a mortgage cannot be used to purchase it.

Mortgage financing is available to purchase a manufactured home that is permanently affixed to the land it’s on.

Each mortgage lender and loan program may have their own restrictions based on property type, condition of property, appraisal, etc. that a manufactured home would still need to meet in order to be purchased via mortgage.