Expert: Dick Dennis - 6/15/2006

Question
The property is in Texas and we did have one other quote who was very similar. I just don't understand the MANY fees we are stuck paying. I have never in my life paid 10-12,000 in closing costs, that seems ridiculous.  It is hard to find banks that will finance triple wides without all their junk fees.
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Followup To

Question -
Breakdown of my costs:  
Base price of home
$144,000.00
Land
$  39,000.00
Improvements
$  17,185.00
Closing Costs & Pre-paids as outlined on GFE          $    7,018.00
Closing Costs Paid By Dealership $10,656.00
Title Policy $2200.00
Survey       $1000.00
Constr.      $6510.00*
         Total $217,859.00

This covers interim closing costs during construction.  Why do we pay dealership costs seperately?  Should that be to the seller?




Answer -
Where is the property located, Mary? The base price of the home seems OK, but the rest seems a bit of a ripoff to me. I would strongly suggest you bring these costs to two other manufactured home brokers or agents. I would bet you get the total under $200,000. Maybe WAY under.

This is a buyers' market today, Mary. I think you should start negotiating with these guys. Even hint that you may be looking elsewhere. I guarantee you they do not want to lose you as a buyer. Talk turkey!

I do wish you well.

Dick Dennis          dixiedee13@aol.com  

Answer
Then tell them you want to see a full accounting and reasons for the costs of all the closing costs involved or you will walk away. And if they won't refund your money, then take them to court with a real estate attorney if you have more than $5,000 ($7,500 in some states) on deposit.

I do wish you well.


Dick Dennis