stick-built MH trade? (long) - Posted by brad
Posted by brad on September 21, 2003 at 21:28:57:
Here is a strange deal. A lady called, has a 3/2 stick-built in poor condition, wants to trade for a MH on private land. She has 11 dogs and the city is busting her chops.
I go see the house. Tax appraisal is 60k, neighborhood average is 80k, per tax appraisal, no comps. She wants out! She took and hour showing me everything wrong with her house. bad sheetrock, fence, etc. About 10k in remodel, I figure. I offer her 19k, looking to flip the house to a rehabber for 30-35k, and find her a land/MH package with the cash.
Her neighbor has the deed, which was given to him to hold by her father, he owns almost the whole block and rents them out. He wants her house, but will not pay for it. I think he is waiting till she is even more down on her luck, to pick it up for a song.
She told me today that if I could get her a 3/2, good quality, on private land with fence, she would trade me straight across for her house.
I have several different options, but I am unwilling to spend anything until she signs my contract for 19K. her neighbor came over while I was looking at the house, and proceeded to lambaste her in the middle of the street for having so many people look at the house, said he was not even going to give her an offer. Needless to say, this ex-car salesman is starting to annoy me.
Anyway, she is going to try to get the deed tomorrow from him, her cousin and the person who has the power of attorney over her affairs both told her to take my offer, since the other guy has not even made an offer yet. BTW, he also had an appraiser come out and appraise her house, at his expense. He will not let her see the appraisal!
Obviously this guy is trying to snake her, is there anything else I can do to get her to sign? I know this post is disjointed, but this deal has so many different facets DeBeers would turn over in his grave.
Any help is sincerely appreciated (a diamond in the rough, with a spinning head)