OfflineHI EVERYONE...I HAVE A FRIEND THAT IS HAVING A REAL HARD TIME GETTING RID OF HIS PROPERTY. HE IS GETTING TO THE POINT OF NOT BEING ABLE TO AFFORD THE CURRENT PROPERTY HE PURCHASED IN CONJUNCTION WITH HIS PREVIOUS MOBILE HOME. HE CAN'T GET ANYONE TO PURCHASE THE MOBILE HOME..HE SAYS HE HAS 65,000 LEFT ON THE PROPERTY. THE MOBILE HOME AUTHORITIES WILL NOT BUDGE ON ALLOWING HIM TO RENT THE PLACE OUT. SO, HE OFFERED TO GIVE ME THE PROPERTY...NOT GIVE BUT NO DOWN PAYMENT, AND I'LL JUST TAKE OVER PAYMENT OF THE BALANCE, TRANSFER OWNERSHIP. MY QUESTION IS WITH MY CREDIT NOT REALLY UP TO PARE BUT STEADY EMPLOYMENT..CAN THIS HAPPEN FOR ME? WOULD THIS BE A GOOD STARTER BUY (BEING A MOBILE HOME)? IF HE IS HAVING TROUBLE SELLING WILL THAT BE THE CASE IN ABOUT THREE YEARS? THANK YOU ALL!!
TAKING OVER PROPERTY PAYMENT...CREDIT ISSUE...
Posted on: Sat, 05/10/2008 - 08:33
TAKING OVER PROPERTY PAYMENT...CREDIT ISSUE...
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- by SUNSHINENURSING
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this program seems to be hard for me to keep track of what to syudy first and how to get web sites and 800 numbers,pre qualified letters,good credit scores and so on.i need details on how to find out if there is a lien or back taxes owed on a property i am in the process of buying. what is the best thing to do without spending money on a title search?
First off it is kind hard to read in ALL CAPS.
Now you say the mobile home can not be rented, so this would not be an investment. Moblie homes do not appreciate, they are like a car. Its the land that would appreciate, and most all parks own the land not the owner of the mobile.
Unless you are buying this to live in yourself, or the owner of the moblie will also own the land, I would stear clear...theres no mone to be made.
D
Don't Wish the Past, Create the Future! - DH
Well first I agree with D - leave it alone. It has no benefit for you. Your friend should try and find a buyer asap (you could earn an assignment fee there or a referral fee) If you cannot rent it and don't live in it then it has no value. THINK A MILLION, BUY A MILLION, OWN A MILLION, RECEIVE A MILLION!
Anita
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"FAILURE IS NOT AN OPTION"
sorry about being cap happy....smile
thank you so very much..i see why he is having so much trouble selling it. Definetly will try to help him so i can make a a fee...big smile
65K is A LOT for a mobile home. I think your friend has a huge problem. I wouldnt want it to be MY problem.
Mobile home prices have more than doubled in the last 10 years. What is missing here? Sunshine how old is the mobilehome? What size is it? Is it on a permanent foundation? Does he own the lot? Or is he just renting space? If he can not rent it can it even be assigned to another buyer? What is included in the price? Where is it located? Lots of things to consider. If he is renting the lot and it is the mobile home park that disallows him to rent it would he be willing to assist in paying to move it to another location? If so and that is the case, he can always do a contract for deed and set any terms he wishes. But Hazco was right mobile homes themselves do not appricate unless they are on a permanant foundation. Where we live 65K for a newer mobile would sell in about 30 minutes. (Single Wide). Heck doublewides on a pier system with 2 acres are selling for 200K on up and you would be hard pressed to find one aday after it was listed. Just wanted to put that out there.
Thanks
Donna
also I think mobilehomes can only "live" in a park a det amount of years.
jrgnsn
ok thank you won't be putting myself in a situation to be messed over.
Thank you all so much for your input so glad to have my Graziosi family to back me up when the world is just on a scam free for all, now, that the real estate market it kind of shacky