Which parties are not exempt from the real estate licensing requirements in California?
According to the laws of real estate licensing in California, employees of the banks and certain lending establishments, cemetery authorities, certain agricultural associations, short term rental agents, licensed personal property brokers,etc are not required to register themselves or obtain license for a real estate …
Which of the following is not a goal of a real estate appraiser?
Which of the following is not a goal of a real estate appraiser? To determine the marketability of a property. Ross, a newly licensed residential real estate appraiser, is on his way to appraise his very first piece of property.
Is it permissible for a broker to accept lender funds unless that broker owns the loan which requirement under the California Business and Professions Code addresses the question?
Is a Broker allowed to accept lender funds unless that broker owns the loan? Which requirement under the California Business and Professions Code addresses the question? No, it is NOT permissible for a broker to accept those funds.
Which of the following conditions does not apply in converting a mobile home into real property?
Which of the following conditions does not apply in converting a mobile home into real property? The homeowner is required to have a tag guaranteeing the mobile home’s proper construction. Property cannot be without an owner.
What is considered a permanent foundation for mobile homes?
A permanent foundation is one that is “constructed of durable materials (concrete, mortared masonry, treated wood) and be site built”. HUD states that the foundation of a manufactured home must “have attachment points to anchor and stabilize the manufactured home to transfer all loads to underlying soil or rock.
What is the difference in a mobile home and a manufactured home?
So, “mobile homes” refers to homes built before 1976 and “manufactured homes” refers to those built after 1976 under a higher set of building standards.
Do you regret buying a manufactured home?
Buyers who do not select the options they desire when ordering a new manufactured home often experience regret. Given the cost-effectiveness of these living spaces, buyers are often happier when they get all their dream home options met.
Is it worth fixing up an old mobile home?
‘ is yes. You absolutely should buy an older mobile home and remodel it if you can find a home with a sound structure and you can do some of the updates yourself. If you like the idea of living debt-free eventually you should absolutely consider buying an older mobile home and remodeling it as your budget allows.
Are mobile homes worth buying?
One advantage mobile homes offer is that they are often a lower-cost option to buying a stick built home. In this regard, mobile homes can make homeownership easier to achieve. And since mobile homes usually cost less per square foot than a stick built home, you can get more space for your money.
Can I live permanently in a mobile home?
You cannot live permanently on them, some may have restrictions as to how much time you can spend there in one go. Residential parks are open all year round and you can live there permanently in a purpose built home. They do not usually allow static caravans or mobile homes to be lived in.
Is buying a mobile home better than renting?
While the upfront costs are higher, buying a mobile home is often less expensive than renting an apartment. Overall, owners of mobile homes spend about 40 percent less on housing than renters do.
Why is mobile home so cheap?
Because they are mass produced and built on assembly lines, manufactured homes cost less to make and therefore less to buy. This cost saving comes with a catch, however. Many lenders only offer mortgages to people buying real property, which the law generally defines as land and anything permanently attached to it.
What’s wrong with living in a trailer park?
Another issue when living in a trailer park is being too close to your neighbors. Many times privacy may not be there. If you think about it, you walk out and see your neighborhoods when living in any type of mobile home community. Usually, they will not allow fences and you can see everything.
Why mobile homes are bad?
Downsides of Buying a Mobile Home for Investment Quick depreciation – Typically, mobile homes depreciate much faster compared to traditional homes. Limited financing options – Most traditional lenders don’t offer financing for mobile homes, especially if you are not buying a mobile home with land.
How much is a downpayment on a mobile home in California?
Chattel loans And you’d need at least 5 percent down to get one. Because the home’s value provides security for a chattel loan, these loans are less risky than personal loans and can offer more competitive rates. However, rates will still be several percentage points higher than a traditional fixed-rate mortgage.
What credit score is needed to buy a mobile home?
700
Can I get a loan for a mobile home in California?
California mobile and manufactured home loan guidelines The home must be on a permanent foundation and cannot be located in a mobile home park. The loan must also cover the land that the manufactured home sits on.
What credit score is needed for Clayton Homes?
621
Is there a lawsuit against Clayton Homes?
The Nix Patterson LLP (NPR) law firm has a page devoted to a class action lawsuit that they state that they brought against Clayton Homes, which resulted in a $100,000,000 settlement.
Is 600 a good credit score to buy a house?
The good news is that a 600 credit score is high enough to buy a home. In fact, there are several mortgage programs specifically tailored to help people with lower credit scores. But this doesn’t mean everyone with a low score can qualify for a mortgage. You’ll have to meet other standards set by lenders, too.
Are Clayton Homes good quality?
With the variety of homes and features available, along with energy-efficient options and green building certifications, many customers agree that Clayton Homes is a good company to work with. In addition to quality building practices and materials, each build is thoroughly inspected.
What is the highest quality manufactured home?
Best Mobile Home Manufacturers
- Best Overall: Champion Home Builders.
- Best for Energy Efficiency: Clayton Homes.
- Best for Families: Fleetwood Homes.
- Best for Tiny Homes: Skyline.
- Best Custom: Adventure Homes.
- Best for First-Time Home Buyers: TRU Homes.
- Best for Modular Homes: Deer Valley.
Who makes the highest quality manufactured homes?
The 20 Top Rated Manufactured Homes by Our Customers [Real Statistics Data]
- #1: The Loft Home.
- #2: Casita Home.
- #3: Timber Ridge Elite Home.
- #4: River’s Edge Home.
- #5: St.
- #6: Sunset Bay Plus Home.
- #7: Mount Shasta Home.
- #8: Golden Exclusive 662K Home.
Who builds the best quality manufactured homes?
TOP 10 MANUFACTURED HOME BUILDERS WE LOVE
- (1A) KIT CUSTOM HOMEBUILDERS CALDWELL, IDAHO.
- (1B) SUNSHINE HOMES RED BAY, ALABAMA.
- (2) DEER VALLEY HOMEBUILDERS, INC.
- (3) FLEETWOOD HOMES NAMPA, IDAHO.
- (4) CAVCO HOMES OF TEXAS SEGUIN, TEXAS.
- (5) FRANKLIN HOMES RUSSELLVILLE, ALABAMA.
- (6) MERIDIAN HOMES FORT WORTH, TEXAS.
Are Marlette Homes Good?
Marlette Homes is a provider of above average manufactured mobile homes. They are a good option if you are looking for a mobile home but not a good option if you are looking for a modular home or alternative to stick-built homes. Marlette homes will not blend in well with other stick-built homes.
What are the problems with manufactured homes?
Biggest Problems with Modular Homes
- Land Issues.
- Site and Foundation Concerns.
- You’ll Pay More than Just a Base Price.
- Difficult to Finance.
- Potential Quality Issues.
- Lack of Customization.
- Fast is Not Always Best.
- Transporting Sections.
Can you get a 30 year loan on a manufactured home?
A typical mortgage comes in a 15-year or 30-year maximum loan term, Title I loans for manufactured homes have shorter terms–20 years is the maximum for a loan on a manufactured home or on a single-section manufactured home and lot. …
What is the best month to buy a mobile home?
So, when is the best time to actually buy a mobile home? Midsummer, the week of Thanksgiving, and pretty much any time in December are the opportunities for people shopping for a mobile home to see the least amount of competition.
Can you negotiate when buying a mobile home?
Don’t be scared to negotiate the price of a manufactured home. Manufactured home dealerships mark up the price of each home an average of 18 to 26 percent. This means there is a profit built into the invoice price of the home. Even if you buy a home at invoice dealers will still make a profit based on the holdback.