Posted by David S on March 05, 2001 at 08:55:14:
If your buyer has their own property paid in full or with a fair amount of “equity”, then allowing them to move to the property may be a good thing. You can take the property as “additional collateral” and/or tie up the package as a land home deal. In addition, I have found it much easier to get a family member; Mom, Dad, etc to “co-sign” the paperwork with the buyer so they can perhaps move nearby; even more security for your note. Do your homework prior to making this decision.
So, before you discount the idea of allowing them to move the home, maybe even to another park, consider “offering” them the chance to do so IF they will have another “co-maker” on the note OR offer to allow so if they will pay you X$$$ for the right to do so. This could be a way to get ALL of your money out of the deal at a much sooner pace while getting additional security as your “safety net”.
Food for thought.