Posted by Karl (OH) on November 07, 2000 at 08:16:40:
I wasn’t really up that early. I was dreaming about posting a message, and I accidently hit the SUBMIT button.
I am however now officially at my day job, got here at the crack of 9:05am, I can go back to sleep now.
Karl Kleiner
$100 AND LOOK IN HIS EYES! - Posted by Robert (MI)
Posted by Robert (MI) on November 06, 2000 at 23:44:22:
thought i had bought my first home when i made a very low offer to this guy. we agreed on price i said i would give him $100 down and the rest when i got the title and the keys(plus he had to leave the place in far condition in two weeks). then the look in his eyes said NEVER GOING TO HAPPEN! i went to park manager asks a couple of ??? and found out that he is being thrown out himself because he took $2400 from a young couple and won’t give them the home.
what is the right way to put money down ?
i almost got cought.
thanks
ROBERT F.
You did the right thing - Posted by Blane (MI)
Posted by Blane (MI) on November 07, 2000 at 19:59:24:
Hey Robert,
$100 down is plenty with a contract. If they can’t work with that, they ain’t motivated enough. And in that scenario the worst you lose is $100. As you’re discovering, you’re going to run in to some shysters. Keep in touch with the PM and run away from that guy!!
Blane
Re: $100 AND LOOK IN HIS EYES! - Posted by Tony-VA
Posted by Tony-VA on November 07, 2000 at 03:05:50:
Robert,
I think you did things the right way. Usually we do try and talk with the park manager first if possible in order to learn a bit more about the seller’s motivation level. Are they behind on lot rent? Are they about to be evicted? Etc.
Now this is not always possible but you are still in the driver’s seat.
Lonnie has done a good job of protecting us. I use $50 down but $100 is fine. I view the title to make sure that I am dealing with the titled owner. I then get a signed purchase agreement, move out date and give them $50 to seal the deal.
I also ask to put my sign in their window to try and drum up buyers in the meantime.
Now if this guy wants to play games, I have a signed contract from him and only $50 (or $100) at risk in the deal. If he gets froggy, he can either give me the money back or see me in court.
The risk that people take by not educating themselves and protecting themselves is well documented in your post. Plunking down $2400 to someone who I don’t know who is still living in the mobile home is not a safe investment. Let your education, professionalism and experience protect you.
Best Wishes,
Tony-VA
Posting at 3AM? - Posted by Karl (Oh)
Posted by Karl (Oh) on November 07, 2000 at 03:11:49:
Tony,
Did your alarm clock go off a little too early today?
Karl
The JOB starts early - Posted by Tony-VA
Posted by Tony-VA on November 07, 2000 at 04:24:53:
It should be noted that you too are up this early!
The JOB gets me up bright an early. 3:30 am is wakeup time. That alone is motivation to do enough Lonnie deals to work myself out of that JOB sooooooon!
So what the heck are you up so early for???
Tony-VA