Want to learn more about trading in a manufactured home? We’re here to answer your questions, from how the process typically works to how the trade-in value of your home is determined.
There are many reasons you might want to trade in in your current manufactured home. Maybe you need a few more bedrooms now that the kids (or grandkids) have gotten older. You may want a more modern, energy efficient home with an updated kitchen and bathrooms. Or maybe you’re moving to a new location and looking for a new home.
Whatever your specific needs are, a Clayton home that’s both stylish and affordable is a great choice.
Let’s talk about how trading in your current manufactured home works so you can take the next step toward finding the home that's perfect for you.
In some cases, your local Clayton home center will accept your current home, and its trade-in value — as determined by the home center — will be applied toward your down payment on or the purchase price of a new Clayton home.
If you need financing, make sure to talk to your lender about whether any additional down payment funds are required along with the trade-in value. This will depend on the price of your new home. You should also talk to your home center to see if they require any additional deposit funds.
Your local home center can evaluate trade-in homes that are any age and condition, and they can usually assist with the removal of your old home to make room for your new one. In some cases, while you may not receive any trade-in value toward a new home, your current home will be taken care of.
If you’re looking at trading in your home, you may also be wondering if your home needs to be paid off before you can trade it in. The answer can depend on your situation. You should talk to your current lender if you have an outstanding loan on the home you’re trading in to determine the payoff amount on your current loan. In many situations, however, it may not be necessary to pay off your current home before trading it in. Be sure to talk to the consultant at your local home center about all the potential trade-in options that may be available to you.
All manufactured homes built in or after 1976 have a NADA® value. The NADA® value will give you an idea of what your current home may be worth and will be one of the factors a home center considers when it estimates your current home’s trade-in value.
Other factors that also affect the trade-in value of your home can include the home’s condition, the type of foundation it has and the potential costs for the home center to transport the home.
To help determine your current home's trade-in value, a representative from the home center may perform an in-person evaluation. This evaluation provides the home center with additional information that's necessary to help it determine the value.
Some of the questions the home center will evaluate during this inspection include:
Our Clayton home centers offer a free trade-in evaluation, so a home consultant can help you begin the trade-in process based on your specific details and let you know what to expect as you get started. Tip: To help everything go smoothly, make sure you have the title to your home. If you don’t have the title yet because your home is not paid off, you will need to know the year, make and model of your home to get started.
Contact your local home center today to make an appointment and take the next step toward finding the new home that’s just perfect for you!
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