Posted by Philip on February 02, 2004 at 19:32:05:
I can deal with these things…I just don’t like too!
I knew buyers would skip. I knew pipes would freeze.
(Grew up on a farm with a crummy wellhouse, and it was my hobby fixing the plumbing or preventing a freeze up.)
Thankfully the park owner was cool about it, because I called soon after I didn’t receive the payment and he knew I was going to follow up.
I am getting lazy and don’t want to jack around with it!
Philip
buyer vacated, a little advice please - Posted by Philip
Posted by Philip on February 02, 2004 at 13:09:20:
When a buyer vacates do I still have to go back to court to get the mh title put back in my name?
I have had my first buyer skip and leave me with frozen pipes.
I know this is a local issue, but a little general advice about skippers and titles would be helpfull.
I can’t find this issue in the archives, I must not be using the correct search terms.
Philip
Re: buyer vacated, a little advice please - Posted by Tim
Posted by Tim on February 02, 2004 at 14:28:05:
Depends on what you did when you sold it. If you transferred the title to them with you as a lienholder (and you have the title) you can goto motor vehicles and do an affidavit to get the title back. If you just signed it over you will have to go to court and enforce your contract, since you dont have title. If the title is still in your name you would just evict them like you would renters.
here’s what I had to do - Posted by Anne_ND
Posted by Anne_ND on February 02, 2004 at 13:49:56:
Philip,
My experience is this: when the buyer leaves owing, an abandonment title can be issued by the DMV so that whoever is owed (park, lender, etc.) can get title in lieu of payments.
When I did this, I called the State Attorney General to get my state’s law on this. They said to send a registered letter to the previous owner (to the MH address). Give them 30 days to respond, even if the letter comes back undeliverable. At the end of 30 days I went to the DMV and they issued a new title. The contents of the registered letter was a demand for payment.
This will vary state to state.
The park I’ve been dealing in has changed hands and the new owners require that if I sell with financing, I must put the title into the names of the buyers (before it was in my company name). To avoid hunting down those who skipped out, I will from now on have the title in the buyer’s name, but I will hold the title physically. I will also have the buyer sign a power of attorney form to me so that if they skip, I can get the title into my name right away. This may not be legal, I haven’t passed it by my attorney yet.
good luck, I’ve got three frozen trailers myself (one had new plumbing in it). grrrr.
Anne
Re: here’s what I had to do - Posted by Philip
Posted by Philip on February 02, 2004 at 14:27:45:
Anne,
I will go ask at the DMV and call the state. I will also use Doc’s donut method and talk to the park owner.
I think your POA idea sounds great, but might be considered self dealing, even though it shouldn’t. It should give the benefit of the doubt to the lender, not the skipper.
I always hold the title, which has the buyer as owner and me as leinholder. Our state mails it directly to me and it is the most common practice.
As for the frozen pipes, this was a 30 year old mobile that had NEVER frozen before. I wish the gas company had to notify everyone involved before they just let your house freeze up by shutting off the gas!
With the age of this home, I don’t know how long I want to deal with it. I had a man intereseted for 3k cash last summer, and I might do it for 2k as is, make a little cash and let him deal with this aging unit.
Thanks very much,
Philip
Self-dealing is not illegal per se. - Posted by Dr. Craig Whisler
Posted by Dr. Craig Whisler on February 02, 2004 at 18:19:27:
It just isn’t permited by the IRS for many pension plans and IRAs.
E.g. you own two corps. and you have one corp. do business with the other. Self-dealing? You bet. Illegal? Not at all.
I get some of my best deals that way. :~)
Regards, doc
Self-dealing is not illegal per se. - Posted by Dr. Craig Whisler
Posted by Dr. Craig Whisler on February 02, 2004 at 18:18:12:
It just isn’t permited by the IRS for many pension plans and IRAs.
E.g. you own two corps. and you have one corp. do business with the other. Self-dealing? You bet. Illegal? Not at all. Nothing improper.
I get some of my best deals that way. :~)
Regards, doc
Re: here’s what I had to do - Posted by Rod - Mo
Posted by Rod - Mo on February 02, 2004 at 18:14:40:
Philip,
Sounds like you are having quite a time, lately.
As for the utility company, go in and talk to them. I don’t know if it would produce results, but I have had utility companies ask me if a property was a rental, so I suppose there is some policy to cover the situation. If they do have such a policy, I would also ask how you protect yourself from the ‘tenants’ ordering a shutoff (presumably triggering the utilities to automatically revert to you) when they are in fact still living in the home.
Also, maybe if the ‘tenant’ orders a shutoff and the utility noftifies you, it is safe to shut off the water and drain the lines. Perhaps some of our peers with a better understanding of the legalities can comment on that.
Regards
Rod