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Athens 502 Loft with an added option of bay windows in the dining area. it is 35 feet long and 11 feet wide..Siding is wood/vinyl and it is in good-fair condition.
A recent tenant owns this and wants to move it to a farm I am renting her. She owns it outright and wants me to make a loan on it. Says the new value is about $44,000 and wants to borrow $15,000. I think that she will make payments, but in the unfortunate event I need to call the loan, what would be the fire sale value if I had to unload it quickly?
I don't expect an exact price, but really appreciate an informed opinion.
Looked at NADA guide and they don't seem to have much, particular on the older models. This one is 15 years and they still make it. Looks like about $25-$30k new.
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