Posted by Dr. Craig Whisler CA NV on August 26, 2003 at 15:27:30:
You would we WELL advised to negotiate with the park manager FIRST. I know that the PM can’t give you a difinitive yes or no on your downstream buyer because he needs to check their credit and references first BUT you can try to draw a bead on his real intentions. If there is ANY hint that this PM might not be easy to work with, then the VALUE of the mobile home drops 80%-90% IMMEDIATELY. You don’t want to have to put out a bunch of cash to buy it then put out even more to move it. If the mobile home can’t stay in the park it probably isn’t worth more than $3-4k. You need to determine this before you negotiate with the seller, because it affects the sales price of the mobile more than any other factor. Tell the seller that you are looking at 3-4 other mobiles to and will have to choose the best deal. Check to see if there is any back space rent due (wich will basically be a lien against your mobile home). Try to arrange your purchase date just a few days AFTER she has paid the month’s rent not before. Ask manager when the late charge takes affect and it will probably be paid by that date. Check to see of any taxes are due on the mobile and check the paper work to be sure the mobile home really is free and clear. Check her title paper work EARLY too because if something is out of order (that you can cure) you will have an additional bargaining point. Make her prove it is free and clear of loans and liens like for back income taxes etc. Don’t worry, she does not have ANY acceptable cash offers yet (or she would have already sold it) and she will get more and more desperate as time goes on. It a case of reverse sticker shock. She will be really shocked to find out how little she will really get for it and that there are no other cash buyers beasting a path to her door. She likely will have to accept what ever you offer her. You set the price.not her. She can only say yes or no. If you don’t rush this deal you should get your price. It may take a year for her to realize the reality of her situation. She has to sell. You don’t have to buy. If you ever have to sweeten you offers only do it with future payments because you won’t be paying them out of your pocket. I’m real good at making payments out of others peoples pockets. Folks just have a natural reflex to feel their back pockets when I am nearby.
For the best tips on tax sale lots for trading purposes please refer to the archives. There is a whole art and science to the way I do it and you will find it all there waiting for you in the archives.
I can be reached at P.O. Box 12, Cabazon, CA 92230.