Posted by ryneed@aol.com on September 11, 2011 at 12:27:27:
Just a ghost… a figment of your imagination… Why are you responding to imaginary post Steve??? =P
Later me amigo got imaginary taxes to finish lol
can u tie up mobile homes like other real estate? - Posted by Paul
Posted by Paul on September 08, 2011 at 18:36:34:
is it possible to tie up a mobile home for say 30-90 days so i can show it to potential buyers and renters to see if i can make money on it. then back out if there is not.
Re: can u tie up mobile homes - Posted by Tony Colella
Posted by Tony Colella on September 08, 2011 at 19:19:32:
Yes and no.
You can use an option to buy and detail the agreement for you to show the home. Maybe even put a sign in the window.
This usually works but yes, a seller could back out and you would not necessarily have the “clouded” title like you would a stick built property.
Bear in mind if you are doing these deals like Lonnie or Ernest then the seller really isn’t likely to be able to sell out from under you since they don’t have the cash they need to do this.
Tony
Way I’ll do next one - Posted by John Merchant
Posted by John Merchant on September 09, 2011 at 09:57:16:
I’ve done it w just an option agreement but almost immediately
regretted my inadequate security.
On one I did with an older woman and where I obtained a written
option agreement I had to remind her two days later of our
agreement as she called me and excitedly informed me that she’d
“found a buyer”.
If I ever do this again I"ll demand and hold the title or have a trusted
pvt* escrow co hold it for me.
*big T&E Cos won’t work here as their national guidelines are too
restrictive so pvt escrow or lawyer is needed.
Re: Way I’ll do next one - Posted by Tony Colella
Posted by Tony Colella on September 09, 2011 at 21:19:30:
Back in my Lonnie deal days I received a title when I bought the home (could have been an option) and when I went to register the title the next day I was informed that this title had been reported as “lost” and the seller received a new title.
I found the seller (I just happend to be in my police cruiser) and she kindly returned my money.
I guess if they want to get around you on the title they will. Other than this one case though I never had any problems. Most of these sellers have no other option than the lonnier dealer. If they really do find a buyer… in that one odd case I would probably just get back any option money and move on.
Tony
Re: Way I’ll do next one - Posted by Ryan NC
Posted by Ryan NC on September 10, 2011 at 20:38:24:
Just FYI in NC the org title has precedence for 14 days after which a lost title claim would stand… never been challenged on it so don’t know the true legalities or mess it could create.
It?s all smoke and mirrors. It’s rare I use options on mobiles w/o land but I?ve always used open-ended options if I’m not using out right cash. A $20 option fee with them retaining the right to sell IF they can find a cash buyer… I gain rights to show, the title, and a key. Never had a problem… not saying I won’t next time around tho, most folks simply stop trying to sell it themselves in my experiences.
Hey! Are you new here? - Posted by Steve-WA
Posted by Steve-WA on September 10, 2011 at 21:43:19:
Can’t recall seeing a Ryan-NC before . . .