Posted by Marty (MO) on May 09, 2007 at 16:41:21:
you’re like the zen trailer guy.
I’d be gearing up for war!!! This is the sure way to get my goat.
but, since you’re having bigger success than I am, maybe I need to start
following the zen master…
Learned A Cheap Lesson Today. =) - Posted by Ryan (NC)
Posted by Ryan (NC) on May 08, 2007 at 20:46:41:
Lost a deal today AT the closing table, siglewide L/H for 9k. Grandfathered for replacement in a nice residential neighborhood… all due diligence checked out and I was there to close the deal!
The seller will a semi sad look on his face told me he needed to bring something to my attention that might cause a problem before we closed. It seems at the time that we pulled the title search something was triggered in a computer somewhere that the power had been off for more than 180 days which normally only means a electrical inspection which is fine by me. (and is what the power company told me like normal) In this case the ETJ zoning (township) has decided and voted as of May 1st 2006 that ANY singlewide mobile home that has been without power for 180+ days is abandoned an must be removed from the lot if located inside the township limits.
This was a cheap lesson for me because the seller was honest about the problem, and showed me the letter he got 2 days after the contract was signed from the township prior to transferring the deed… This home was in my area and I’d not heard of the law until today and even called the township to make sure that I couldn’t replace the unit with a DW like planned. Another tick mark goes to calling the local township to verify occupancy is ok even if everything else checks out with the county zoning laws.
People ask about spending money on title searches, due diligence, and education… Folks this deal was IN MY STOMPPING GROUNDS and I know the rules in my county. I didn’t think to call someone I didn’t even know existed which could have just as easily left us holding a lot we couldn’t use, what if this had been a 100 unit park in another state? We lost a few bucks for the title search but I can make it up easy on the next deal. =)
Best wishes,
Ryan Needler
Re: Learned A Cheap Lesson Today. =) - Posted by CharlesClarkson(TX)
Posted by CharlesClarkson(TX) on May 18, 2007 at 02:39:34:
“ANY single wide mobile home that has been without power for 180+ days is abandoned an must be removed”
How does the township know the power was out for the entire time the power was disconnected from the utility?
Does the home have a battery operated wall clock? Guess what? That’s connected power.
flip it - Posted by Anne_ND
Posted by Anne_ND on May 09, 2007 at 07:18:24:
Ryan,
If it’s a nice residential neighborhood, could you buy the lot (even cheaper now) and whole sale it to a builder? Even if you made “only” $5K on it, that’s still nice. Find out what those lots sell for, there might be a way to make a quick few bucks.
Anne
Re: Learned A Cheap Lesson Today. =) - Posted by Tony Colella
Posted by Tony Colella on May 09, 2007 at 06:53:35:
Ryan, try checking with the planning commission and the folks in the city. In many cases they will not allow the single wide if the power has been turned of for 180 days but they may allow you to move a home back on once they have approved the set backs etc.
It seems that despite what the folks on the phone may tell us, the property may still be used for mobiles but only after more red tape and city say.
If no mobiles can be used at all, then is there some other higher and best use?
If there is a higher and best use such as modular or stick built then ask yourself if this would work as a land play. Since the seller has been told his property is now essentially worthless, would it be worth it to pick it up cheap and hold for a higher and best use?
Tony
Re: Learned A Cheap Lesson Today. =) - Posted by TT
Posted by TT on May 09, 2007 at 06:49:15:
Ryan,
wow!! Crazy!
In the future, if the deal is right, and you are under the 180 days, would you want to turn the electricity on at your expense?
TT
Re: Learned A Cheap Lesson Today. =) - Posted by Marty (MO)
Posted by Marty (MO) on May 09, 2007 at 24:27:25:
Good luck on the next one, that was a homer you missed out on!
To me, this is another example of how clueless many politicians are…
they think they’re doing good, but they’re helping to further erode
property rights and underming your business. A deal like this could
send your kids to college!
Good story…
Marty
Re: Learned A Cheap Lesson Today. =) - Posted by Ryan (NC)
Posted by Ryan (NC) on May 09, 2007 at 09:38:06:
I could probably fight this and win without much problem other than the ill feelings with the folks that must sign off on the permits, the county zoning allows for class A mobile homes which is basically a vinyl shingle DW with masonry underpinning. Lonnie once wrote “I’m like water, I take the path of least resistance.” That has become one of my philosophies in doing a deal.
It seems this particular township has adopted a zoning ordinance from the next county over that is essentially designed to eliminate SW’s. I do need to take the zoning guy to lunch to get the full story, I don’t agree with it but it’s a fight I’m not willing to fight.
I could probably do a modular pack or a stick built on the land and make pretty good $ but it just doesn’t interest me at this point, I might call one of the major SFH builders here and try to flip it…
This seller is land rich cash poor, he has quite a bit of land in the county and we rode around after leaving the attorney’s office to look at other lots that might work… found two decent improved lots in the RMU areas that he’ll sell for 9k (maybe less) and a pretty 97 28x48 3/2 DW in near mint condition on a 1/2 acre that he’s going to sell to us for 30k.
I’m a big believer that things always have a funny way of working out, this deal just wasn’t meant to be for some unknown reason. No hard feelings, no regrets, Next!
Best wishes,
Ryan Needler
Re: Learned A Cheap Lesson Today. =) - Posted by Ryan (NC)
Posted by Ryan (NC) on May 09, 2007 at 09:08:30:
in a heart beat!
Re: Learned A Cheap Lesson Today. =) - Posted by Tony Colella
Posted by Tony Colella on May 09, 2007 at 06:48:50:
Even worse, these are the same politicians who appeal to the poor and the voters with platforms based upon “affordable housing.”