Greenpoint Repos - Posted by Lynn

Posted by Howard on October 23, 2003 at 14:16:27:

We have dealt with Greenpoint in Texas. All their offices seem to have slightly different approaches. However, all have insisted on certified funds within 5 days of purchase. In Texas the lender has 15 days to move the home after receipt of a possessory lien without paying lot rent. They can move the home quickly if they want to. It would not hurt to meet the repo manager if you are close by.

Greenpoint Repos - Posted by Lynn

Posted by Lynn on October 23, 2003 at 12:15:26:

Any one have experience buying Greenpoint repos? Your experiences?

Any park owner/manager who has had a Greenpoint repo in your park? What were your experiences with Greenpoint. How quickly did they get the home sold? Did you have trouble collecting lot rent from Greenpoint?

Have a Greenpoint repo in the park that we just closed on 2 weeks ago. They should have possession of home this month, claim they take 3 bids on home and usually have it sold within 30 days. Do they truly move this fast? We would like to bid on the home, however, was hoping we would have a few months. Really don’t want to use our cash reserves for a home this quickly. Bank wouldn’t like it either. Did buy and resell a repo last month within days. Kept a list of potential buyers. Know we could sell this quickly, more than likely would NOT be a cash sell. The home we bought last month, had set vacant in the same park for over a year, CIT had it for almont a year before we bought it. Advise?

Experience with Greenpoint …not repos though - Posted by Johnnie (FL)

Posted by Johnnie (FL) on October 25, 2003 at 14:31:04:

I have had experience with Greenpoint in FL and all I can say is they lie, don’t believe anything they say unless it’s in writing, and then have an attorney and be prepared to go to court to get the contract enforced, then be prepared for them to file all kinds of bogus motions and try to wear you down finacially…just my experience…

Only deal with them if price is… - Posted by Greg Meade

Posted by Greg Meade on October 23, 2003 at 18:08:36:

right. Can take 30 daysto get titles and in FL they are no longer open. So i only buy from them when i already have a buyer and title in new owners name! A few grand finds it’s way into my appreciative pocket! Good rule of them is they don’t often give wholesale prices until been listed for 5-6 cycles. By this time, all apps are gone and a/c is missing.Owning the park gives you some real leverage if you want the unit. Contact an attorney and find the legal way to “steal” the home!