Posted by Jeff on February 04, 2002 at 20:33:03:
Sounds like some very sound advice… the $100 is a lot less than the pontential revenue the unit could be earning and it’s definitely less expensive than having to evict someone and have them trash the place!
Jeff
jeffj@notachance.com
Buyer quit making payments - Posted by Bill
Posted by Bill on February 04, 2002 at 17:00:37:
I bought a MH, rehabed it, and then sold it to a young couple. Its situated in a MH park. Buyer has quit making payments. How do I force them to start making payments again, or move.
Do I have to go through a foreclosure proceedings like you would on a SFD.
Or is a MH considered personal property like a car, and can I just take him to small claims court.
Any advise would be greatly appreciated.
Thanks in advance.
Re: Buyer quit making payments - Posted by Dave_in_IN
Posted by Dave_in_IN on February 04, 2002 at 19:26:24:
I have had one buyer quit making payments. I discovered that they were also behind in lot rent. Talking to the park manager I found that the park had filed in court and was about to serve papers. My buyer knew this also. I went to the buyer and offered $100 to leave the place clean and neat and to sign a sales agreement to me for the loan balance plus $100. They did and I squared up with the park and re-sold the unit in about 6 weeks. I’m getting payments again from a stronger buyer.