Posted by Dan - GA on September 08, 2003 at 15:08:05:
Kris:
In WI the woodstove is a selling point. Put the title ion the buyers name and file a lien with DMV or whoever titles them in WI. Require Fire Inusrance for the value of the loan.
Help from the pros? Possible first deal. - Posted by kris (Wi)
Posted by kris (Wi) on September 08, 2003 at 14:39:06:
It’s a 79 3/1 Fairmount for $1500. Lot rent is 200 + taxes…
Here’s my questions
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It has a woodstove. Should I remove it for liability reasons or is it a selling point.
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It is in a corp owned park and they want the buyer on the title. Is that OK? Does anyone deal in corp parks?
Any ideas.
Re: Help from the pros? Possible first deal. - Posted by Lyal
Posted by Lyal on September 08, 2003 at 18:55:21:
Kris,
Cold weather selling point or not, it’ll be a huge pain when your buyer tries to insure the place (if you’re holding a note you MUST require that the buyer have insurance with you listed as lien-holder).
My standard first “improvement” when I buy one with a fireplace / wood stove is to rip it out.
Having the buyer on title is standard the “Lonnie Deal” approach with you listed as lien-holder. Corporate Park is ok if you can reach an “understanding” with the manager.
All the best, Lyal