Convincing Seller to finance? - Posted by Ray
Posted by Ray on December 09, 2000 at 18:39:13:
I really don’t know anything about MH’s except that I lived in one as a kid and told myself I’d never live in one again, well, we’ve all heard the saying “never say never”.
Anyway, my wife and I started looking today. The one we looked at is very nice, 14x70, 1987, the owner is a remodeler so the interior is somewhat updated. It has a 3 year old furnace w/cent. air, water tank is 2 yrs. old. It has 2bd 2ba He extended the concrete pad for two parking spaces, the stove, fridge, washer/dryer are 5 yrs. or less and they stay. The master bedroom is open to the master bath which has his/her sink with a garden tub between them, a walk in closet. They are selling because they have bought a house. I asked about owner financing and he was clueless as to the concept. His reply was “Oh no, you see in order to live in this park you have to own the trailer” I tried to explain it to him, but, his fear of the unknown took over and he came up with several reasons why he didn’t want to do that. He said he had borrowed the down payment for his house from his mother, he needed to build a pole building for his remodeling business, yada yada, he has to buy his cat a fur coat, etc. etc. etc.
I don’t want to give up on this trailer yet because it fits us perfectly. They are asking $20,000 OBO. They had pictures of the trailer (in summer with plants/flowers)on the counter when we walked in. The wife said they didn’t think it would be winter before they sold it (which got a hard look from him)before we left he said they just put it in the paper. I’m thinking they have been trying to sell for a while.(hopefully) I think we may be able to come up with 4-5K for a down payment. I’m looking for some advice on how to help him understand the benefits of seller financing. I haven’t spent much time here on the MH board, but I bet you folks are every bit as creative and knowledgeable as on the other board, can anybody help me out with this situation?
I’d really appreciate any help you could give