Posted by Todd (AZ) on May 11, 2006 at 12:07:44:
Once again, I have to agree with Anne. This is YOUR business, not hers. Why are you letting her call the shots after only one month? In fact, I’d almost bet she had this planned from the very beginning (call me cynical?). I say no deal. Period. But, that’s just me. Todd (AZ)
what to do?? - Posted by Adam (IN)
Posted by Adam (IN) on May 10, 2006 at 21:26:59:
I just talked with a buyer of mine who moved into a home i had about a month ago. She had land but planned on selling it and staying in the park but today she informed me she had changed her mind and decided to move the home that used to be on her land out and move mine in. I said “oh, well ok, just make sure you talk with the park manager” and left.
When she first told me I thought oh well, if you want to pay the moving costs so be it but as the day has gone on I’ve done nothing but wonder what I will now need to do and most importantly how to protect myself!! I’ve had a million questions going through my head.
What changes with the home being moved from a park to private land? Is there no longer a title? How do I protect myself with the home on HER land? What happens if she stops paying considering its not just in a park where i can get it back and re-sell it? Plus my contact states the home being located at so and so address, which of course is the park location and would change with the move. I’m assuming i can make her sign a new contract with the address changing and all but nowhere in my contract does it say they can’t move the home, just figured the contract is only good for the address stated and if they move I could change things then…can I do that??
Any thoughts on protecting my #@! would be great…TIA
Re: what to do?? - Posted by JP (in PC)
Posted by JP (in PC) on May 11, 2006 at 21:12:53:
I’ve had this come up in the past when I first got started and luckily I didn’t know anything other than I didn’t know how to make the papwerwork ‘fit’ for my buyer to do this so I said no. Now with some experience I wouldn’t even think of it, once they get it on their land I can only imagine how much hassle it could be trying to get the home back if you had to. Now I tell them they can move it when it’s paid for, until then it stays put.
Just my thoughts…
John
Re: what to do?? - Posted by Bruce
Posted by Bruce on May 11, 2006 at 08:23:12:
If the home is moved to her property make sure you get a signed landlord/tenant waiver that would allow you to access her property in the event of default. Never allow this scenario to happen again. It is critical to keep physical control of the unit during the term of the contract. Good luck.
Tell her to pay it off first - Posted by Anne_ND
Posted by Anne_ND on May 11, 2006 at 07:09:42:
Adam,
Tell her you spoke with your attorney/financial partner/insurer, and they came back and said she has to have the home paid off before she can move it.
Moving it will be a huge headache for you (even though it would be 100% her project and cost, still you have to worry about it and should be concerned with who she uses to tear down, move and set up- at least I would be). You’re not getting any more money for this, just tell her no. Too many things could go wrong. And your relationship with the PM will be damaged by letting the home go.
Anne
Re: what to do?? - Posted by Briton (IN)
Posted by Briton (IN) on May 10, 2006 at 23:29:36:
I dont have any answers as far as legal stuff goes, but it sure seems like you need to have a better line of communication with your buyer. Keep in touch, dont sit around and guess/worry about what she is thinking!
Good luck, Briton (IN)
Re: what to do?? - Posted by Steve-WA
Posted by Steve-WA on May 10, 2006 at 22:06:08:
IF you had started with Lonnie’s template for a promissory note, then you would have a defauylt point that says moving the home gives you the option to declare default, and she must pay it off before moving it if you choose. OR you could place a lien on the LAND until the mh is paid off.
I wouldnt sweat it - it can be worked around, but then again, I tell people, if you want to pay for a move, then you have to pay it off forst - possible discounted.
Re: what to do?? - Posted by adam
Posted by adam on May 11, 2006 at 08:11:33:
i originally did start with Lonnie’s template but ive done a number of deals so i tweaked the contract to solve a few of the recurring problems that i noticed but somehow left out the clause stating the home can’t be moved (figures!)…i’ll likely tell her she needs to pay for legal council to discuss the move so EVERYONE can be protected but in the mean time i’d love to hear anymore suggestions (a lein on the land seems to be a pretty good idea!)