Dirty Rotten Scoundrels - Posted by Steve-WA

Posted by Steve-WA on June 03, 2004 at 15:10:22:

and the color associated with it - there’s a hint.

I left out the name on purpose, because I do not think it is just one company doing it.

Re: MotML

Doc sicked out, but I met with a fellow named Wai Chung who lives in SanDiego, and we spent a lot of time talking - most of a day! And we had sushi instead of Big Macs!

Dirty Rotten Scoundrels - Posted by Steve-WA

Posted by Steve-WA on June 03, 2004 at 13:13:33:

I put in a 62% bid on a repo the other day, and the snotty remarketing person (who I’ll call Pat) calls me back and says that there is a higher bid than mine, so I’ll have to bid higher. Unless, of course, I jumped right ahead and paid them their asking price.

So I bit; submitted another bid, a little higher at 75% of ask. Pat calls me and says that the other bidder and I were tied; if I wanted to attempt to outbid, Pat would accept bid submissions in no less than $500 increments. Unless, of course, I jumped right ahead and paid them their asking price.

So I bid another $500 (81% of ask), and that is my final submission. It’s too much, but even at that price, I’ll sell for triple. Pat calls, and guess what? We’re tied again! I can bid again, or, remember, we’re asking $X.

Somthing stinks like November’s spawning coho.

I was relating this saga to a board-mate, and he says that the “imaginary competing bidder” ploy had been used on him - different region of the country, different company -

So I’m done; bidding no more - we’ll see what happens next . . .

Be warned.

Re: Dirty Rotten Scoundrels - Posted by Jeff Morelock

Posted by Jeff Morelock on June 10, 2004 at 21:02:39:

He’s full of it. My partner and I were looking at a business last month and were in the seller’s office for a meeting at 8:00 PM. At 8:10 PM the seller’s personal cell phone rang, he picks it up, listens for a second and says, “Yes - it’s still for sale.” Yeah sure buddy. We declined and left.

they are really trying to make up… - Posted by Greg Meade

Posted by Greg Meade on June 03, 2004 at 18:48:31:

lost ground. For the last 2 years they were selling homes for 12-15% of pay off and it has killed them. Now they will do anything to recoup some dough.

Greentree here accepts bids on units the 5th and releases results on the 20th each month. So, an investor is supposed to say bid 63k for 9 nice homes and hold that money in escrow for three qweeks while they decide if they accept or counter. NOT, i refused to bid 2 months ago and last friday my rep called and asked if i wqanted a current list…i said no!!
Another rep went on vacation a week ago and while she was gone, her boss added 2k to EVERY singlewide and 3 K to each d/w. Was working with an investor in panama city and mid stream in the middle of a multiple deal, they did this…wierd, huh?

The good news there is still plenty of homes out there…the bad news is 60% of payoff!! And tons of games with phantom bidders!!
Regards Steve,

Re: Dirty Rotten Scoundrels - Posted by Rod - Mo

Posted by Rod - Mo on June 03, 2004 at 18:43:12:

Could be the old game, but it could be you are up against someone with right of first refusal. Sun and ARC have this type of deal with most of the financers, so I don’t even bid on homes in these parks.


Sounds familiar - Posted by Philip

Posted by Philip on June 03, 2004 at 15:01:29:

And their “house bidder” is still a dishonest way of upping the bid.

Re: Dirty Rotten Scoundrels - Posted by Skip (CA)

Posted by Skip (CA) on June 03, 2004 at 14:58:26:


I noticed that you didn’t name the company. Was that on purpose, are they only regional or would you care to share? Take care!


PS Did our telecon while you were in SoCal constitute all or a portion of the “Meeting of the Mindless”?

Re: Dirty Rotten Scoundrels - Posted by Leon

Posted by Leon on June 24, 2004 at 16:15:05:

Uh…S’cuse me. That’s the second set of postings with (essentially) the same complaint.

If this is not promoted as an auction (including schills), it shouldn’t be one. Why not treat this like a business deal (since that’s what it is). Submit your bid with an expiration date. If they want more money, let them make a (FIRM) counter offer which you can accept, reject, or counter. If they want to play games, dial another number. After a couple efforts with the same bank, they might understand that you don’t have the word “STUPID” tattooed across your forhead.