Selling MH with a RE agent - Posted by SteveB (SoCal)

Posted by Luke-MN on May 17, 2006 at 08:18:43:

I used a realtor until I got a limited broker’s license in MN which allowed me to buy and sell when acting as principal. I was able to work out a deal with an agent I knew for one and a half percent of the sale. Don’t let them charge you six percent since they will likely not be doing any marketing or work to sell it anyways.

Selling MH with a RE agent - Posted by SteveB (SoCal)

Posted by SteveB (SoCal) on May 16, 2006 at 22:34:31:

Hi Everybody,

I was curious if I can not get a dealer license can I list a MH with a licensed real estate agent, offer seller financing and still be able to do a Lonnie deal? Does anybody have any experience doing it that way? Thank for your replies.


Re: Selling MH with a RE agent - Posted by John Merchant

Posted by John Merchant on May 19, 2006 at 12:55:41:

In WA State, lots of MHs are listed and sold by RE Agents as well as non-RE agents.

It’s always been my feeling that these sellers don’t really know the Lonnie method, or else their asking prices are ridiculously high and they all want all cash.

I’ve bought a number of MH notes on deals like this on MHPs here.

I work with the seller and buyer and help the S take a note from the B, then I’ll buy that note from S at a good discount, but get the S all or most of the price he was asking for the MH.

e.g., let’s say the S was asking $35,000 and the B had only $10,000 cash. I met with both of them, then I had S take a new note from B for $28,000, and then I bought that note from S for $25,000.

So S got all his $35,000, B got his MH, and I got a good note at a good yield.