Posted by Tony-VA on December 16, 2002 at 14:42:48:
The past tense was merely an indication that I try to no longer stick to that single negotiating approach so sternly.
Tony-VA
Am I responsable for this lot rent? - Posted by Brian, WI
Posted by Brian, WI on December 14, 2002 at 16:29:41:
Well, I’ve done my 1st Lonnie Deal, at least 1/2 of it, I bought the darn MH now I just need to sell it!
The home itself is a 1981 Patroit 12x60 2bd 1bth. It’s in good condition and they were selling for $3000 OBO(not a bad price since people try to sell these for at least $13,000). I offered $2200 and they accepted(darn too high) and am selling for $8000.
O.K. so now I have this MH and seller has moved on. The lot rent is $395 and I paid Decembers. I’m not getting a lot of action from the sign in the MH or ads I’m running and don’t like it when they always ask “How much is it?”. I thought they were just suppose to ask “How much down and what are the payments?”. Yeah it’s early but I’m still getting uneasy about “owning” this thing and paying lot rent.
So here’s my question…I took possession of the MH from the seller(I have the signed title) and he has moved on. I’ve never filled out any paperwork with the park for lot rent, so what happens if I don’t pay it? Can they come after me? Can they go after the former owner? Not saying I’m just going to walk away, just curious what others think/do with something like this.
Thanks
Brian,WI
Re: Am I responsable for this lot rent? - Posted by Tony-VA
Posted by Tony-VA on December 15, 2002 at 12:37:49:
Brian,
Your home is on their property correct? Then you are going to be liable for paying the rent.
Even if you have not signed anything, they can proceed to solve the non-payment issue. Laws vary by state and procedures will vary by local. But for example, if you don’t pay, they may file for an abandonment title and end up owning your home. Again, how this occurs will vary.
As for the callers asking what the price is. Review how Lonnie handles this. I was one who NEVER, EVER gave a price. I probably was too strict about it but it worked for me.
Create a circular argument and get the caller back to reality. The reality is that they probably don’t have much cash and could not buy it at any price about $1,000 if they had to. So price means nothing.
When they ask the price, go with something like, “The price is negotiable, how much can you comfortably afford to pay each month?”
“How much can you afford to put down?”
If they continue to hammer me on the phone about price, I usually know I have a shopper on the line and waste little time with them. I may loose a few cash buyer’s this way but I think not. Most of the time I will already have picked up that they have no money. (Little questions like, “will you need financing” go along way).
If they demand a price, I tell them that we require all offers to be made in writing. This ends the dream for those who have no cash and are wasting my time. If they have cash, then I meet them that day and we put it in writing (on my mobile home sales agreement).
Hope this helps,
Tony-VA
Re: Am I responsable for this lot rent? - Posted by Tony
Posted by Tony on December 14, 2002 at 21:12:59:
Yes ,They will hold you responsable.
In your adds say,“Owner will carry” or “No Banks”
“E Z Qualify” etc. This should bring you a buyer.
Do not sit on your hands get moving and sell that home ASAP !
This is a cheap lesson for you and what ever you spend in order to sell make sure you get it back when you sell. Welcome to the real world. Next time find your buyer before you commit to the old owner.
Good Luck !
Was that a slip? - Posted by Steve W (WA)
Posted by Steve W (WA) on December 16, 2002 at 13:48:30:
Tony, I caught you saying “I was” twice.
" . . . I was one who NEVER, EVER gave a price. I probably was too strict . . ."
Are you no longer in this biz? Moved on to bigger and better, perhaps?
Just nosy, I guess. It doesn’t really matter - in or out, you still give good advice, even at the price of often repeating what you have told others before. I admire your caring attitude and patience.
steve