Just repo'd a MH by buying it back (Wa)

Owners/payors were at the end of their ropes and just became 2 months behind on lot rent and 1 month for to me. After reviewing the law and how much a attorney would cost, I decided the easiest thing to do was to offer to buy it for back lot-rent and “what they owed.”

My question is, how much should I report the sales price? Obviously not for what remains on the note as this is basically a glorified repo, but I believe I should at least report the 2 months rent. I don’t want to raise too many eye brows at the courthouse tomorrow, but I also don’t want to pay too much excise tax for nothing.

Any opinions? Good news is I will now have a home to sell that I have nothing into for the price of a little rent, a moving truck, and perhaps a little kilz to cleanup the cigarette smell.

Repo. Period. You didn’t buy it. Call me if you have Qs

Didn’t really want to wait on that. The owner gifted the home back to me at the courthouse instead of a purchase. No real excise, just xfer fees. Had to pay a little in back prop. taxes, but that’s my own fault for not staying on top of it. Oh, and a moving truck - can’t forget that.

Fix a couple of exterior stairs, patch an interior fist hole, caulk a tub, and resell for 25k. As I had no cach in this one for quite some time, I like the return this one will gerenate.

There’s no wait - it’s not a foreclosure. Its a repo affidavit and a trip to the courthouse. If it’s done then cool.