EXTREMELY motivated Seller-What to do? - Posted by Doug
Posted by Doug on November 12, 1998 at 15:40:42:
I will and try and make this saga as short as possible:
I have been trying to sell a mobile home for a while, but have been unable to due to various reasons. I have found a buyer who really wants the mobile home and is willing to pay my price with me holding a note or with cash should he sell his condo quick enough.
After digging a little, I come to find that this guy is almost 2 month’s behind on his payment on a land contract with a remaining 10 year balance of about $51,500. The past due amount is due by 11/16 or he is out. (He has 1 months payment which he was making today) While I was at his home, the utility company came to demand payment or his electric will be shut off. In a nutshell, this guy is hurting.
As I have primarily worked with MHs in the past, I need some input to make this deal doable.
Here is what I have proposed:
I will sign over the MH title to him (I paid $1500) with a corresponding value of $5800. I will also bring his loan current by paying $750 to owner.
I will do