First "Lonnie Deal" is a strange one - any suggestions? - Posted by Brad (TX)

Posted by Brad (TX) on February 09, 2000 at 14:08:44:

I told her that without looking at the home I could only estimate that it would be worth between $2K and $3K. She seemed shocked by such a low figure, so I must be doing something right.

If I make any offer at all, it will be contingent on the daughter moving out of the home by a specified date before we close the deal. If that doesn’t happen, then I’ll let the deal go.

First “Lonnie Deal” is a strange one - any suggestions? - Posted by Brad (TX)

Posted by Brad (TX) on February 09, 2000 at 09:52:55:

I got a call last night from a motivated seller.

circumstances:
Mother owns the home and is renting to her daughter and son-in-law. They have not paid rent for a year. The husband left. The daughter is alone and still living in the home…, and still not paying rent. Now the mother wants the daughter out, ASAP. She’s tired of the whole deal and wants to sell the MH. She wrote the daughter a letter stating such, and put it in the mail yesterday (or so she says). She wants me to meet her at the MH where the daughter is living, so I can take a look at it and make her an offer.

the home:
1983 Fleetwood ~ 14x66 ~ 2/2 ~ Elec. Range & Dishwasher.

My response:
I told her I would go (what was I thinking?!!).

Any suggestions on how to handle this one?

Something that I have learned - Posted by Dirk Roach

Posted by Dirk Roach on February 10, 2000 at 04:16:51:

Hi Brad,
Something that I have learned, is there are deals all over the place. And if one is plagued by headaches, then I pass. Because I can find three others that don’t have those head aches. Believe me I have a thick skull so it did take a few deals until I figured that out.
Anyhow I would listen to the advice given here by everyone. It’s good advice.
The mom wants to sell the home, then cool, but the home has to vacant.
You are not in the eviction business.
Also please, please, make sure that lot rent is current. Or buy the home for the back space rent. It would not surprise me that a call from the Park saying "Mrs. Mom, pay the outstanding space rent on YOUR mobile home or move it. In fact why are you even sub-leasing Your Mobile Home out?"
Is the home in a rental park? And why is the Mom writing the daughter a letter. I don’t know, but I wouldn’t even want to think about slacking on my mom, like that, I can guarantee that getting a letter from her would be the least of my concerns.
Anyhow it sounds like a quicksand of emotional involvement in this deal.
Have Mom, clean up her mess and then buy the home.
Good luck
Dirk

Thank everyone!! I’ll keep you posted on the outcome. - Posted by Brad (TX)

Posted by Brad (TX) on February 09, 2000 at 14:01:29:

~

Re: First “Lonnie Deal” is a strange one - any suggestions? - Posted by d.henderson

Posted by d.henderson on February 09, 2000 at 12:43:56:

Everyone is right, check everything out and make sure you can sell it for how much you have in it PLUS tell Mom no deal unless it’s vacant. Walk away if it’s not empty and clean, had the same thing happen on a house. I told them the same thing, you know what, son is still living in the house and still hasn’t paid rent.
Good Luck,
Dee-Texas packing my bags for Atlanta

Re: First “Lonnie Deal” is a strange one - any suggestions? - Posted by David Alexander

Posted by David Alexander on February 09, 2000 at 12:37:16:

Be aware of two things. The back lot rent and that you may be inheriting a problem, which is ok if you plan for it. You didnt mention what your going to be paying for it? Or what she is asking, or what you believe you can sell it for?

David Alexander

Re: First “Lonnie Deal” is a strange one - any suggestions? - Posted by Judy

Posted by Judy on February 09, 2000 at 10:44:38:

Sounds like she wants you to kick out the daughter so she’s not seen as the bad guy.

Daughter probably owes lot rent too.

Blood is thicker than water - Posted by Bill K. - FL

Posted by Bill K. - FL on February 09, 2000 at 10:35:48:

I have seen this before. I doubt the mother will kick her daughter into the street. Don’t assume she is very motivated. Check it out non-the-less.