I just bought the book but - Posted by Ross Clendening

Posted by Steve-WA on August 03, 2003 at 12:04:31:

hope it’s still there!

Ross, I’d be typing up that purchase agreement with contingency TODAY and taking it with me tomorrow . . .

I just bought the book but - Posted by Ross Clendening

Posted by Ross Clendening on August 01, 2003 at 02:22:01:

I buy residential houses but have been considering mobile homes but have been dragging my feet until. I just received a call on my house add for an 84 shultz 2 brm 14x70. asking price is 1K or best offer. What should I offer and ask in selling price. I just ordered the book before I posted this message. thank you in advance

looksee - Posted by Steve-WA

Posted by Steve-WA on August 01, 2003 at 09:47:32:

Go look at it, determine motivation, negotiate price - maybe $1K is good! - and get a purchase agreement, including a contingency that allows you an out if the PM cannot be worked with. Something like “Purchase contingent upon Buyer reaching agreement with Park Management regarding resale conditions, and park allowance for the MH to remain in the Park. This agreement must be in accordance with terms favored by the Buyer.”

This will “lock in” the purchase, at least in the mind of the seller, and you will have a chance to then fulfill the other most important part of a Lonnie transaction - getting the PM on your side.

Then verify amount of space rent, allowance of rentals / lease options / etc. Ensure that the PM understands the service you provide as being to THEIR benefit. Some are just cranky, and will kick you out. Or the rent is $800/mpnth. Or they won’t approve you because you aren’t living in the MH (they don’t get it).

Note: Normally, I would not advise that you rush into a PA like this - I would suggest that you talk to the PM, verify that they would work with you, then go back to the buyer. But you don’t steal in slow motion, a wise man once said (or a couple of them). $1K as a starting point is good, but is reachable by many. Get it under contract.

Another note: Maybe the reason the price is good is because the PM is unreasonable. This clause gets you out.

Re: I just bought the book but - Posted by Ross

Posted by Ross on August 01, 2003 at 02:27:00:

By the way no repairs needed on this deal

they are down to 500 cash - Posted by ross

Posted by ross on August 03, 2003 at 11:26:28:

i am looking at it tomorrow am monday and they will take as low as 500.00 which is very cool.

i have a purchase and sale agreement - Posted by ross

Posted by ross on August 05, 2003 at 06:09:02:

I have the agreement and an contingency, the park seems to be user friendly. they want a credit check on me. it does need work after all. the ceiling and floor have a hole in it. it does need what i call a lot of cosmetic work ie carpet paint trim. I put 20 bucks down and have a balance of 480 due. I would have paid in full but wanted the way out. at this point i am not sure how to proceed but good news my book just arrived.