Posted by Steve W (WA) on February 25, 2002 at 07:49:37:
What are o-l-d homes selling for there?
Will the PM let it stay? If not, hassle factor goes up.
IS there back lot rent? Are the taxes paid up? Any liens? Why does he need to sell fast? Will he tell you why? Do your homework.
If all looks good, then what WOULD you pay? 1100 seems pretty good, but I’ll bet you could get 1000, 900, 800.
The pattern often goes this way - get them down to what they feel is the rock bottom, but if you offer just a little less, they may acknowledge that they would go lower. Don’t get greedy, but food for thought . . .
My first one, please help! - Posted by Richard Perry
Posted by Richard Perry on February 24, 2002 at 22:28:36:
I need some advice, please. I have found a very nice park with an exceptionally cooperative manager who is sending alot of stuff my way. I got a call from a man who needs to sell his 1967 12x46 2/1 home and fast. His first price was 2500.00. By the time he called me it was down to 1500.00. Before the call was over it was 1300.00. I went ot see the home today. It is a very well kept home-old but well maintained, with a poured, covered, porch and an out bulding. He also offered to throw in two sofas, the kitchen table and chairs, and the fridge and stove. When I asked his very best price, he said 1100.00. Ihave read the books and this site faithfully so I know I am at he right place for guidance. Is this a good deal to start off with or is this one a dog?
Re: My first one, please help! - Posted by Tony AZ.
Posted by Tony AZ. on February 26, 2002 at 05:24:28:
You have a motivated seller,so it seems.
What type of park is it ? Can you flip it fast like
a Lonnie deal ? For example in my area there are quite a few homes like that and I could buy for under$500.00
But I would be stuck paying more in park rent until I
sold it. Do your research ! The first deal is always the hardest. But don’t be gun shy either ! When you play dice most of the times you will throw
a six,seven,eight etc. But sometimes it’s craps !
DO THE RESEARCH ! Good Luck !
Re: My first one, please help! - Posted by Jacque - WA
Posted by Jacque - WA on February 25, 2002 at 12:02:44:
Hi Richard,
Congratulations - it sounds like you’ve got a motivated seller, a cooperative park manager and a deal.
Although this is a pre-hud home - I have certainly seen nicely maintained homes in this age and have done quite well selling them to buyers.
Just double check with the park manager that the home can stay in the park. I would also talk to the park manager on what they are going to require from a potential buyer.
Richard, maybe if you keep talking to him - you may even get the price down. If your uncertain you can also think about taking this on an option and use your buyers money to make the purchase.