Flooded Mobile, Worth Buying or Not?

chief · Wed Sep 21, 2011 11:33 pm

Hello All!

I am new to the site. I have an oppertunity to buy a double wide that was recently flooded (about 6 inches over the carpet) for extremely cheap. It was a very nice home...now the carpet is ruined and subfloors are warped...it has been sitting with moist floors since the flood which was about a week ago. Is it worth buying this and rehabing it? It was built in the 90's.

Also..besides the subfloors, heating ducts, and some walls...what else might need repairs or hit me hard in the wallet?

*** if Fema gives the current owners money for it being ruined...will that give the home a salvage title or anything?

bobfather99 · Thu Sep 22, 2011 11:46 am

A lower price fixes anything.....

Make sure you figure into your rehab budget replacing the subflooring, flooring, belly wrap/insulation, and plumbing(if necessary) Dont forget the price of getting rid of all the junk you have to rip out...then add about 10%-20% for "surprises" that may come up.

As for a "salvage" title, not too sure about that. Check your state's regulations.

HouseMedic · Thu Sep 22, 2011 4:24 pm

I would make sure the ceilings are OK also. Dampness can get into everything so I would also check for mold in every place possible.

Ron

chief · Thu Sep 22, 2011 4:52 pm

Thanks for the advice! I just found out that fema is not doing anything with the title. Now I just need to get a contractor in there to take a look. The owner told me they got an estimate of 6,000 just to JUNK the place? seems rediculous, but this is scaring me. I'll update soon.

Greg · Thu Sep 22, 2011 5:04 pm

Hi & welcome. Depending on how much work YOU are willing to do this could be a good buy for you. Plan on doing a TOTAL rehab job, Floors down to the joists, walls to the studs, Possibly siding depending on the type. Then start rebuilding and doing any upgrades needed like windows & doors, Electrical etc.

By doing the labor yourself you will save a lot of money, Contracting the work out I feel would cost more than the home would be worth.

One question that needs to answered, what are the odds of another flood after you rebuild?

Greg

HouseMedic · Thu Sep 22, 2011 10:54 pm

Does it have to be moved? If so you have to put that cost into it also. You should be able to get it very cheap, As you said whatever they get for it will be extra plus the $6000 saved that they would have had to put out to junk it. It cost me $3800 to have my old one crushed and taken away.

Ron

Greg S · Fri Sep 23, 2011 5:29 pm

Your question is actually more difficult to answer on a forum such as this than you may imagine.
Whether it is worth it depends on more than simply the cost to do repairs. The value of mobile homes is location specific in most cases therefore to answer your question the resale value, after repairs, of the specific home in your area must first be known.

However if the insurance company is preparing to demo the place they may pay you to take it off there hands. Not very likely but still you should get it for near nothing. If there intent is to resell as is then you need to do your due diligence in advance to determine after repair value and repair costs.

Often what appear to initially be good deals do not pan out when full research is done.