am I asking too much - Posted by julie

Posted by Steve-WA on July 23, 2003 at 17:15:34:

Great! Now we’ll get out of your way!!

Good luck

am I asking too much - Posted by julie

Posted by julie on July 16, 2003 at 16:37:41:

We have a 96 16X80 that we purchased new shortly after we were married. We thought “we’ll live in this for a while then sell it when we know where we want to buy a house”. Wrong.
First of all, we were financed through Greentree…Conseco… Need I say more? I did work out a deal with the Regional VP and got a small portion forgiven. We put the balance (about 16,000) on our much lower interest credit card…so at least now we have the title and no longer have to deal with Conseco.

Secondly, it’s in a park who will not let us lease it, we have advertised on & off for 2 years and cannot get it sold. I’ve made up fliers and posted them in local realestate and insurance offices, posted classifieds online, in the newspapers, and literally called every mobile home park & dealership w/in a 20 mile radius

The problem seems to be that it’s too good. Everyone wants to pay $5000 or less and get junk. For a mobile home, ours is really nice and in good condition. We have been trying to get $16000 but would settle for 12,000. Is this just too much? I see them sell for much more than that all the time. Any advise on what we may be doing wrong.

I know you guys say NOT to use NADA. But, their low retail value is $15200…shouldn’t we at least be able to get 12000?
Be blunt with me am I asking too much? What should we settle for?

Re: am I asking too much - Posted by Tim (GA)

Posted by Tim (GA) on July 22, 2003 at 19:31:48:

Don’t know where you are at. In GA I would sell that for $14,000 with about $1200 down @12.75% for 8 yrs payments would be $233 and the buyer would pay you about $28,000 by notes end. If I had this home here in GA I would sell that in 20 days!!
If I were buying it from someone I wouldn’t give more the $4500 cash for it…Repos are a dime a dozen these days.

Hey, just a minute there… - Posted by Dr. Craig Whisler CA NV

Posted by Dr. Craig Whisler CA NV on July 18, 2003 at 16:15:22:

…I’ll buy it for 12K if it is in my area. You didn’t say where it is located, or did I miss something? You can phone me at (909)-662-5851, if one of the guards answers, hang up!

Regards, doc

Click on my name to email me and. - Posted by Philip

Posted by Philip on July 17, 2003 at 16:47:06:

I will see if I can help.
I live an hour away, but work in Sprinfield 1 or 2 days per week, so it won’t be a problem.
Owner finance will be easy.

settle for: - Posted by Steve-WA

Posted by Steve-WA on July 16, 2003 at 17:48:46:

Settle for the fact that people looking to buy a MH just don’t have 16K cash, and a bank (GENERALLY!)won’t loan it on a MH in a park.

Your solution is probably to carry the note. Take payments from a buyer who can give a couple thousand down - or whatever you decide, and arrange payments that they can handle.

KEY!!! - do NOT sign the title over and give it to them - there is no incentive for them to keep paying you.

Tell us where you are; perhaps one of us is near you and can help a bit with the paperwork, or finding a buyer and handling all the mess for a small fee. If you’re near me, I would certainly help you for nothing to very little, depending on what you need.

Or, spring for the $30 and buy this:

Waiting to hear from you . . .

Re: Hey, just a minute there… - Posted by Julie

Posted by Julie on July 22, 2003 at 10:04:17:

We’re in Springfield MO. Not very close to you I’m afraid…I’d be happy to sell it to you for that price though (delivery not included)

OK, now let’s talk the split . . . - Posted by Steve-WA

Posted by Steve-WA on July 17, 2003 at 17:34:55:

Philip + Julie = 50/50, Philip splits his 50% 50/50 with Ryan and Steve, um, that’s 12.5% to Ryan_MO and 12.5% to Steve-WA . . . Philip gets 25%, and Julie gets her half.

So on a 16K sale at 13%, $1000 down with $250 payments . . . (PV, PMT, %i, CPT N) . . . I get $125, and 60 payments of $31.25.

Rock on!

Re: settle for: - Posted by julie

Posted by julie on July 17, 2003 at 09:26:07:

Thanks for answering so quickly. We have actually attempted the “owner finance” thing a couple times. I even have a copy of a contract for deed that I copied from a friend of mine in the mortgage business. The problem there is that the park we live in must approve anyone who purchases from us if they keep it there. They have turned down at least two couples because of credit.

Do you think it would help if we offer to pay the lot rent if the buyer fails to do so? I had never considered that, but we could keep the downpayment in and account set up for that such thing.

We are in Springfield MO. If there is anyone out there who is willing to help find a buyer we are MORE THAN WILLING to pay a small fee! We’ve already been out at least $150 in newspaper ads.

Re: OK, now let’s talk the split . . . - Posted by Philip

Posted by Philip on July 17, 2003 at 20:11:00:

I was just going to help her finance it herself, help her talk to her pm, help her with ad wording, etc.
If I make money…I’ll send you 12.88%, just because I am generous!
I can’t do the “what’s the least u will take”…flinch…etc…thing…I was truly gonna help, for about an hour, if she so wanted.
So…let’s see 50% of 0 is…well, that comes up “error” so you will get “e” or “er” or something along those lines!

Re: settle for: - Posted by Ryan_MO

Posted by Ryan_MO on July 17, 2003 at 13:21:16:

hey Julie,

Yeah as steve said, Philip is form near nixa I believe, somewhat close to Springfield i believe. I’m from st. Louis, dont think i could help out too much unless i could find a buyer that wants to move a home to their own lot. That could be a thing you could try. Find out if anyone in your area rents their own lots to people with their own home,s not in a park. Often times those people have people looking for homes to move onto private lots. Drop me back an email if you have any more questions.


Go Bears! - Posted by Steve-WA

Posted by Steve-WA on July 17, 2003 at 09:33:36:

I hail from 150 miles north of you, went to SMSU.

Be patient; we all run through non-creditworthy folks, and a lot more than two! Spring for the $30 and buy DOW - you will get the simpler contracts (than CFD), and the simplicity of how to sell a MH in this manner.

As far as paying their space rent, nah. Keep control; you do not want to come across as a motivated seller, or you will lose the advantage of getting what you want.

Phillip is from southern MO, not sure exactly where, but he’s closer to you than I am, near Tacoma! There’s a coupla three show-me types on this board; read a little and scope them out. By clicking on their name in a post heading, you can get their email address. You may get help.

ah, philip, - Posted by Steve-WA

Posted by Steve-WA on July 18, 2003 at 24:00:53:


I would help for nothing. Just injecting a little financial calculator humor . . .

Re: ah, philip, - Posted by philip

Posted by philip on July 18, 2003 at 06:44:50:

jk myself, sorry if it wasn’t good enough for you to be able to tell.
I think I’m hilarious!
She hasn’t emailed so she must be scared of us.

For once I knew you were kidding, and tried to respond accordingly…(actually in person…many people find me funny…for a while…then annoying) I think that is a direct quote from my wife of 17 years.


Re: ah, philip, - Posted by julie

Posted by julie on July 23, 2003 at 16:53:10:

No, I’m not scared…just extremely preoccupied this week.
Philip I would love “free” help. As a matter of fact I may be able to hook you up with some others that you could possibly make some more money on. Call me & we’ll hook up.
Unless you’re scared that is!
Thanks to all of you who have given me advise.

I did by the book Steve.