2001 Mobile Home repo wants $23,900
What price should I come back with? The lender is in another city and would have to pay to have the home moved and a lot fee of 185.00 per month. I have told him no way to 23,900. I am thinking of making a ridiculous low offer of some kind, any suggestions?[ Edited by Bigmagic on Date 03/29/2003 ]
Not enough info for me to advise you.
Forinstance... Lender is in another state, this is good, and in your favour.
But, How long has the home been sitting and they have been paying lot rent? IS the Lot rent behind?
Condition of the home!!! Has it been vadalized, or when it was foreclosed on did the people leave it in great condition or did they leave it a mess or even knock some holes in the walls.... any negatives at all you take pictures of to paint a worse picture of to the lender.
How about the homes around it, are any of them close by been serious vandalized? IF so take a picture of them too to get the picture they dont want to leave that home vacant very ...get the picture?
Then make your bid...... forinstance, did one here that was a 27k home... I bid 8000 they laughed and turned me down quickly..... I told them well there is over 1k in back lot rent...
but even with that in mind I will go 8600..... they returned and said 9500 Ireturned and said at the most 9000.
We settled at 9k.
Dont hurt to shoot low as long as you are serious and can close fast, if they smell the money they will act.
Mark
I agree, I just put a bid on a mobile home park appraised at 928k. They took my offer of 465k just recently. I kept calling on it over a period of almost 8 months now just to see if they had sold it yet. You never know how low to go. I dont know about youre area but here in florida as soon as it is used the buying price falls to a little over half of what its worth. The market here is flooded and you can name your price. You can also have them pay to move it or at least meet you half way with the cost to move it.
Hey Kyle,
I live in FL also (Tallahassee) and I was learning how I would go about learning more about MH's. I had an oppurtunity to purchase a 1997 Jacobsen on 5 acres of land, but the owner never called me back
. My point is that he wanted me to take over payments at $86k. Hearing that mobile homes in your area are going for so cheap, maybe it was a good thing that I didnt take over payments ? Thanks, Tim