MH - Posted by Greg


#1

Posted by Ceagle on December 05, 1998 at 17:22:59:

$30 for Lonnie’s book is a LOT CHEAPER than a small mistake doing what you are considering.


#2

MH - Posted by Greg

Posted by Greg on December 05, 1998 at 16:08:28:

NEWBEE…I just got off the phone with a man that has been my friend for 30 years. He has been trying to sell his MH through a broker (9 months). The broker is not doing very well, or the figures are way out of wack.

I will see the listing agreement and mortgage on Monday. I believe that Steve told me the broker’s commission will be 10% and will be considered his listing until it is sold, period. Is this normal for MH brokers?

Steve says that he owes 10k and it is for sale for 14k. All he wants is to get out from under the mortgage. Anything above that is gravey, and says that is I can make a few bucks, to go for it.

Looking for advice on what options or ideas are out there, for me to make a few bucks on this deal. I know the margin is narrow here but someone must know a way to make this happen. I think the brokers commission is a big key and I will not know more about that until I see the docs. on Monday.

I do not have the money for Lonnie course but could really use some help on this deal so I can buy it :slight_smile:

I will post all the info that I get on Tuesday, i.e. all the numbers etc., … but for now I would apreciate some ideas or ways to get control.

If I take over payments… will it be considered a sale by the MH broker? Can I use a L/O here to get someone else in there … making the payments and an assignment fee for me?

Thanks in advance
Greg