Knoxville, IA Manufactured Home
This transaction presented some of the most unique things we've come across yet in our career! Manufactured homes have different lending laws than single family properties. Additionally, laws changed regarding single wide vs double wide properties in the last few years. Lastly, there are appraisal challenges when land is worth more than the home as it was in this case. Therefore, it required finding a buyer who was willing to work with a lender who could accommodate these challenges. After many months on the market and buyers wanting the property but not being able to meet the requirements for lending on this type of property, a buyer came along with a lender ready to get to work. Luana Savings Bank did it! It was an exciting sale for us because so many in the industry told us it would be impossible to sell but together with a great buyer's agent & lender, we pulled it off!! We are SO HAPPY for our client that we were able to get this property SOLD so they can continue enjoying their new life in Minnesota.