Your logic is fine but doubles often sell for the same amount as singles, sometimes less if they are older. The reason is that there are extra teardown and setup costs. Also many older park spaces aren’t big enough for doubles. This depresses the prices a little more than logic will allow. Is that logical?
I tried to work with Greentree many years ago. They didn’t seem the least bit concerned whether they sold repos or not. They wouldn’t even return phone calls to me or my money. I couldn’t negotiate a free lunch with them, not even a Big Mac. That may be why they went down the tube.
When you attack my Big Macs you attack my integrity, my family, and my country. I won’t stand for that.
Here in eastern North Carolina I have not had any luck in negotiating with Conseco. The Inventory Control Manager for this zone has been less than enthusiastic about negotiating. For instance, within the last 3 months I have talked to him about 2 repos. The first was a 1995 28X70 that was abandoned. Asking price was $12,000. It needed about $3000 in repairs. I offered $6000 and was immediately told that “I’m not even going to submit a bid for that amount because they aren’t going to take it.” Conseco had the home moved off of the landowners lot which I would guess cost around $1500-$2000 to do, so they had even more money in the home. Recently, I inquired about a 1999 28X48 that had been abandoned. They were asking $10,000 and have to to have it moved within 7 days (the landowner got her lawyer involved). I offered $5000. This home needs about $2000 worth of work and it will cost me $2000 to move and set up. Conseco will not even consider it. They informed me that they will move it to their lot about 30 miles away and try to sell it off the lot. I have read on here that people were buying repos for 20-30 cents on the dollar. Any particular formula or key words to use when talking to Conseco? I generally inquire about the home, the asking price, and make my offer, explaining to them home much it is going to cost me in repairs, moving fees and set up. No luck so far.
Re: Greentree/Conseco not negotiable. - Posted by Elizabeth (NJ)
Posted by Elizabeth (NJ) on August 26, 2003 at 18:03:32:
First, forget about Greentree/Conseco.
Oakwood Homes is in Chapter 11 and like every ch. 11 debtor must sell off the non-performing assets in order to fund the plan which will ultimately permit them to emerge from bankruptcy.
Oakwood is in your backyard so to speak, in the Carolinas. Look on the internet or your phone book for an Oakwood finance company. Call them up and ask for a listing of their repos in your area of choice.
You should be able to get at least a dozen or more homes this way. Start your offers low, keeping in mind that they’re in Chapter 11 and at this point must move inventory in order to comply with the obligations imposed upon them by the Bankruptcy Court.
conseco doesn’t care for the small investor. To get best prices you need to buy packages (5 or more homes). Typically 4 nicer homes and a true dog. bad news ehen they accept your package bid, you have three days to cashier check and 5 homes will cost 35-50k min.
The prices they are giving you sound like they are close to 20-30 cents on the dollar. When I dealt with Greentree they were the same way. Basically they are idiots who have no idea of how to market their homes. I
Try to offer them their price minus the move only. In their mind the fix up is the buyers responsibility. And they may have a point. The 1995 you mentioned after fix up what will it sell for in your area?
If you could buy it for 10K spend 5K and sell it for 25K-30K or more, it would be a great deal in my mind.
Re: Greentree/Conseco not negotiable. - Posted by cindy bumford
Posted by cindy bumford on October 05, 2003 at 19:36:59:
I have been tring to call and make payment argeements on my morgage loan. I have been try to reach someone at so form of your co sents 10-3-03 it if now 10-5-03. All i get if all our lines are bizz pleasa be paticant and please hold. can someine please help me.
Maybe I’ve read this board too much I figured if a single was worth $2,000-$3000 then a double should be worth around $5000-6000. One of the ladies I spoke to at Greentree told me that the 28X48 “retailed around $13000 and they are asking $10,000.” That doesn’t sound like 20-30 cents on the dollar to me. My logic was to offer what they were asking MINUS moving cost and repair cost. Seems fair to me. I guess it doesn’t seem fair to Greentree. Now they will tie even more money into it to have it moved. So, $10,000 asking price, minus $2000 for them to have it moved. Maybe it’s just me, but it seems like they would want to sell it for $6000 (what I offered). I realize I’m small fry to them, but they have an a lot of units to sell off.
I figured if a single was worth $2,000-$3000 then a double should be worth around $5000-6000. One of the ladies I spoke to at Greentree told me that the 28X48 “retailed around $13000 and they are asking $10,000.” That doesn’t sound like 20-30 cents on the dollar to me. My logic was to offer what they were asking MINUS moving cost and repair cost. Seems fair to me. I guess it doesn’t seem fair to Greentree. Now they will tie even more money into it to have it moved. So, $10,000 asking price, minus $2000 for them to have it moved. Maybe it’s just me, but it seems like they would want to sell it for $6000 (what I offered). I realize I’m small fry to them, but they have an a lot of units to sell off.