Posted by Mary-VA on February 10, 2002 at 23:12:00:
Thanks so much. All good ideas. I was determined to sell only to Jane, and wouldn’t buy it unless she was ready to buy from me. Now I see that if I buy it “right” I will have a buyer even if it isn’t Jane.
You people are great with your advice!
How Do I Explain? - Posted by Mary
Posted by Mary on February 09, 2002 at 17:41:56:
Jane called me and said she wanted to buy a MH and explained what she needed.
I found the MH I am sure Jane will buy from me.
Seller says she will take my money and give me title in 10 days. She will continue to live in home for those 10 days.
I want to show MH to Jane. How do I explain Jane’s wanting to see the home? Jane thinks I already own it and the seller knows I don’t.
Help.
Re: How Do I Explain? - Posted by Karl (Oh)
Posted by Karl (Oh) on February 09, 2002 at 19:54:24:
Put together a purchase agreement and put down a deposit, but tell the seller that when they have moved out and are ready to surrender the home to you, you will give them the money. When that time comes, trade title for money.
I show homes with the sellers still living there all the time. I just ask both the seller and the buyer beforehand to please not mention any prices, our agreement is not the other person?s business, everyone has always agreed, no one ever minds. After we leave the home, I discuss it with the buyer. I tell the seller beforehand that I?m bringing over a buyer, but potential buyers fall through more often than not, the seller has probably already learned this. No one has ever tried to cut me out, the typical sellers and buyers just aren?t that swift. Plus, in a typical deal, you’re buying for cash, selling on terms, the buyer and seller couldn’t work out an agreement behind your back if they wanted to.
Its nice to have a home sold before you buy it.
Karl Kleiner
Re: How Do I Explain? - Posted by Tom (WA)
Posted by Tom (WA) on February 09, 2002 at 19:10:23:
Mary,
I would tell the seller that you are very sorry but that won’t work and that you are prepared to pay her at the time she is prepared to surrender the home and the title. That is how real estate transactions are done every day. O.K., that may be the ideal case. In reality, you need to find out “why” or what the real problem is. She may be stuck because a lender holds the title. If that is the problem, you may have to go to the bank (or lender) with her to pay off the loan and walk out with the title. Her problem may be that she has no money and, therefore, cannot pay rent and/or deposit somewhere else until she has your money. Or she may be unsure of your ability to actually close the transaction and therefore, afraid to move and risk the deal falling through. In that case you may need to show her your cashiers check. In any event, your best bet is to really find out “why” and find a solution for that problem.
Re: How Do I Explain? - Posted by ScottS(NC)
Posted by ScottS(NC) on February 09, 2002 at 18:59:39:
Mary,
Hi, Don’t do anything until you have the title. Or you could be cut out of the deal. If you show the home with the original owner still there whats to stop your seller and your buyer from talking and cutting you out? If the home is bought right you will get the profit whether Jane buys it or someone else does. Be patient don’t rush things to much. Play it cool Jane should be able to wait 10 days tell her it wont be available to see for ten days but you will give her first shot at it. Also I wouldn’t pay your owner until I get the title not ten days before. HTH take Care ScottS(NC)