Finally located a truly motivated seller - Posted by Ken L (MI)

import · March 24, 2006, 6:41am

Posted by Ken L (MI) on March 24, 2006 at 09:15:22:

Well, this is true. I’ve never had to get one actually moved. I do know that it’s a $250 permit to go on a state highway, which we’ll need to do. And all the other stuff will cost as well.

Other than that, I think this is a good reason to try to get into contact with the lot owner. I’d like to throw an offer at him for the lot itself. You just never know. He might be willing to sell it. Vacant lots in that area are less than $20000. So I might be able to snag his lot for cheap. Of course, if he’s renting the lot, he has some idea how easy that is to do. So we’ll just have to see.

import · March 24, 2006, 6:41am

Finally located a truly motivated seller - Posted by Ken L (MI)

Posted by Ken L (MI) on March 24, 2006 at 07:41:48:

I am partners with my brother in investing. So last night he came across an add, placed yesterday that said “Must sell…blah, blah, blah.” So he called and the lady is moving out of the state in 2 weeks. She has her 1984 3/2 listed for $8000.

My brother got her down to $4000 on the phone. This is a good thing, so we try to set up an appointment for last night. But she couldn’t do it. So we set and appointment up for Sunday. Then my brother is talking to her a bit longer and I notice he is starting to sound like a motivated buyer. So I tried to tell him to calm down a little bit. He backed off a little.

Anyway he gets off the phone and I told him to not be so eager with this lady. He says, that he is going out there today to see it with a purchase agreement in hand. He says he thinks we can pay up to $3500 for it. The problem is the ad says the place must be moved.

So I told him (I’d go but I have to work then I have to go to an ultrasound with my wife down in Green Bay) that we still need to have the lot manager approve of it (this shouldn’t be a problem as they seem motivated to fill their lot back up) and we need to do a title check to see if there are any leins on it.

So I told him to go out there with a purchase agreement and no more than $100 cash. Put in the agreement that the home will need lot approval for the sale to be final. Then try to get her best cash price again.

I think he is exhibiting signs of being a motivated buyer and while she is certainly a motivated seller, I think we should let her sweat it out a little bit and get the home for closer to $2000, it’s probably going to be $1000 to move it, so that puts us into it for $3000.

He is worried that she’ll sell it to somebody else if we don’t snap it up quickly. I am not so sure this is the way to look at it. I mean, if she does, then we are out nothing. If we wait, that could be an extra $1000 in our pockets. I also told him to be certain he gets the lot owner’s name so we can talk about just leaving it in place and saving ourselves $1000 to move it. Or look into financing the lot and get the land/home deal.

Any thoughts on talking him back off the ledge. I am afraid he’s going to head out there with $2000 cash and buy the thing without doing his due-diligence and we are going to be sorry.

import · March 24, 2006, 6:20pm

Re: Finally located a truly motivated seller - Posted by Sailor

Posted by Sailor on March 24, 2006 at 19:20:51:

Even if you get the mover for 1k, you still have to hook up plumbing & electricity, maybe add sand, pay for inspection, & skirt. I also had to upgrade decks. Those items can more than double your move price.

Although I am free to make REI myself, my offers always have contingency clauses, including “approval of spouse.” If partnering, I’d make offers separately on “approval of partner.” That way you can always re-open negotiations because the partner thinks the deal is too expensive. If you do get stuck paying too much for the unit or the move, all is not lost–you’ll be getting both of you educated for the price of one!

Tye

import · March 24, 2006, 6:52am

Re: Finally located a truly motivated seller - Posted by JeffB (MI)

Posted by JeffB (MI) on March 24, 2006 at 07:52:43:

I think you’re right, except about one thing. It’s gonna cost you waaay more than $1000 to have that home moved. I’m moving a couple right now at a cost of about $3400 each (singlewides) and this was the best price I could find from any transporter in lower Michigan. This also does not include the cost of skirting and steps for the home.

Several others here have stated they get homes moved much cheaper but I just have not been able to make that happen. I had quotes as high as $6k for moving a singlewide. Ridiculous. Anyway the $3400 figure I mentioned is a discounted rate I’m getting since I am moving two at the exact same time.

Why not just go (or have your brother go) talk to the PM BEFORE making your offer and signing an agreement?

import · March 24, 2006, 7:45am

Re: Finally located a truly motivated seller - Posted by Ken L (MI)

Posted by Ken L (MI) on March 24, 2006 at 08:45:07:

Good idea on that having the PM approve it beforehand. I thought we might be able to use the uncertainty about moving it as a way to hem and haw about it for another week, thus increasing the motivation level of the seller, but I might be getting a little too cute there. I think I’ll tell him to talk to his contact at the park manager’s office and see if they can ride out together to check the place over.

One good thing about the moving is this. We live in the Escanaba area which is a smaller rural area. There are only a handful of people that move homes around here. One of them is a guy that my brother literally may have saved his life back in high school. The dude was being attack by a guy with a steel car jack that some dude had pulled out of his trunk. My brother was driving through the Burger King parking lot at the time and saw what was about to happen and jumped out of his car quickly enough to restrain the assailant from behind thus saving the moving guy (my brother graduated with him) from possible sever injury or worse. So that helps some. And he already gave us a quote on another move for $1000. I hear you on the cost and this one will be further, but that is at least a feather in our cap. God bless having a partnet who is not only a good samaritan, but also a pretty bad mofo

import · March 24, 2006, 7:50am

Re: Finally located a truly motivated seller - Posted by JeffB (MI)

Posted by JeffB (MI) on March 24, 2006 at 08:50:13:

Funny story, and great to have a mover that you know.

Just make sure that his quote includes all road permits, mechanical permits (sewer, water, gas) and don’t forget the cost of skirting. I have a very hard time believing anyone could do this, including the cost of all tiedowns and other materials, for $1000. But if you can do it, I for one will be very impressed!

Good luck,
Jeff