Posted by MylesTX on October 10, 2005 at 12:56:40:
Yes, yes, we’ll be interested in doing something like this. please count us in. thanks
Tony/Scott or anyone who has the answer - Posted by MylesTX
Posted by MylesTX on October 05, 2005 at 13:08:28:
Hi Tony/Scott, Im back, i was the lady who post a question to you last week about that stinky house that we ended up not buying because FEMA bought it. anyway, Im so excited because we found another house which i think is a very good deal, owned by a bank. a 2000 Palm harbor home which is in good condition but it is stripped (no a/c, no furnace, no water heater, no tubs) i think the previous owner sold them. carpet needs cleaning and master bedroom ceiling needs fixing, its sitting on a 1.2 acre lot and were buying it for 18k cash (i think its a great deal right?) we contacted a a/c guy who said it will cost us 3k for the a/c, furnace and water heater to be installed. my question is when we check the county appraisal, only the land was appraise, it was appraise for 24k but nothing was said about the home. so we called the bank and ask to make sure were buying a home/land package and said yes. so my question is isnt it suppose to appear in the appraisal being appraise with the home? also if we refi this, were hoping to use the appraisal value to refi but maybe we cant because its only showing the land on appraisal so how do we know if the home is on foundation to be considered real estate? and if it is not on foundation, how do we get this on foundation? sorry this is kinda lenghty. thank you.
Re: Tony/Scott or anyone who has the answer - Posted by Tony Colella
Posted by Tony Colella on October 10, 2005 at 13:19:32:
It looks like Phil provided you with a good answer and resource to follow up with.
When you buy, check the paperwork to make certain it describes the mobile home. It is quite likely that the mobile was not attached to the land for tax purposes and as such the tax dept is listing them separately.
When you refi, your bank may well want to pull an appraisal if you want a value higher than tax value (no big deal).
Just to clarify. The tax ASSESSMENT is NOT an Appraisal. They are separate. Many lenders will allow us to use the tax assessment (this saves a few hundred dollars in appraisal fee). You can always higher an appraiser but wait to see if your bank requires it and if they have a list of appraisers they prefer. Not all banks accept all appraisals.
As for foundations. This requirement will be determined both by the lender and type of loan you are seeking. If this is a singlewide, permanent foundation is most Unlikely to be required.
Tony
Re: Tony/Scott or anyone who has the answer - Posted by Phil (TX)
Posted by Phil (TX) on October 05, 2005 at 20:28:11:
Hi Myles,
If you have the hud label, serial number, or prior owners name you can go to the TDHCA website and find the history of the home and whether or not the title has been surrendered to real estate thereby making it a real estate transaction. Also, you can find out who installed it and if TDHCA does not have the information regarding the foundation the installer will know. Where in Texas are you. I’m in the DFW area. BTW the TDHCA site location for looking up the ownership is:
Re: Tony/Scott or anyone who has the answer - Posted by osupsycho (OK)
Posted by osupsycho (OK) on October 10, 2005 at 15:43:22:
Tony said:
“You can always higher an appraiser but wait to see if your bank requires it and if they have a list of appraisers they prefer.”
I think you may mean you can HIRE an appraiser, but I have seen a few appraisers that seemed like they were a bit HIGH when it came to their appraisals… you know like they may have been smoking something when they did them! 
(sorry couldn’t resist)
Re: Tony/Scott or anyone who has the answer - Posted by MylesTX
Posted by MylesTX on October 06, 2005 at 11:56:40:
Thanks for the info Phil, I will ask my husband to get all that info and look that up. Im in Fort Worth, and this is our first land home deal. are you in fort worth or more in the dallas area? how are you doing in this business? we’ve just started february this year and so far were slow in acquiring. let me know your experience in the area, maybe we can network. thanks.
Re: Tony/Scott or anyone who has the answer - Posted by Tony Colella
Posted by Tony Colella on October 10, 2005 at 18:44:51:
My typing stands corrected. That’s what I get for trying to type with only 3 hours of sleep and a 5 hour car ride. Oh well.
Re: Tony/Scott or anyone who has the answer - Posted by Phil (TX)
Posted by Phil (TX) on October 06, 2005 at 14:00:59:
Myles,
I have sent you an email direct.
Phl
Re: Tony/Scott or anyone who has the answer - Posted by osupsycho (OK)
Posted by osupsycho (OK) on October 06, 2005 at 15:22:15:
I just wanted to ask you DFW guys if you would ever be interested in having a get together of lonnie/tony dealers from north TX and OK. I noticed that there are groups like this that get together in the Washington state area, Fl, and the Carolinas.
Doesn’t have to be anything formal (unless we want it to be) just a meet and greet and bounce suggestions and problems off of everybody. It looks like there are a few of you guys in the north TX area and I know of at least two of us from OK that would be interested in something like this (yes JT I am speaking for you!). Just checking to see if their is any interest.
Re: Tony/Scott or anyone who has the answer - Posted by Phil-TX
Posted by Phil-TX on October 06, 2005 at 16:41:47:
Yes, I would be interested. I’ve been thinking the same thing about N.TX/DFW area folks. I don’t see why expanding to include Okla. would be a bad thing.
But are we sure we want to get the Hatfields and McCoys together? And your moniker of “osupsycho” really causes the mind to conjur up all kinds of interesting possibilities for such a get together. Just kidding!!
I think one of us or someone else who is interested should start a new thread to get the ball rolling.
BTW. That L/H lead in Okla. I posted earlier is gone. Three people from Okla. responded and I sent each my phone number, but no one called. Oh well…
Thanks,
Phil
Re: Tony/Scott or anyone who has the answer - Posted by james
Posted by james on October 07, 2005 at 08:19:27:
I am also in the DFW area looking to make contact with some locals on lonnie deals and such. Have you started a group already? Who do I call or email?
Thanks
Re: Tony/Scott or anyone who has the answer - Posted by osupsycho (OK)
Posted by osupsycho (OK) on October 10, 2005 at 15:44:59:
James,
I am putting together something and will add you and Myles to the list.