Posted by Marc Donovan on October 07, 2001 at 21:46:03:
First of all, do your research. Don’t take the word of some RE friend. Do your own looking. See if you can get what you think you can get. Its your money. If it works financially, there are many ways to control the property.
Once you have done your research, e-mail me with the specifics, and I can give you some alternatives.
How do I get this in my name? - Posted by Mary
Posted by Mary on October 06, 2001 at 21:43:43:
I have found 2 lots, side-by-side, 2 SW MH’s 1990 & 1991 5.3 acres total, in great area.
My RE friend says, buy because it is priced half what it’s worth. Can sell one lot & MH for what I will pay for both.
I have been promised mortgage money after I have owned the property for one year, but I must first “put them on permanent foundations” which is a simple matter in this county - basically take off tongues & wheels. The appraisor actually determines if they are “permanent” and thus Real Estate.
How can I get this property in my name without paying the owner all she wants? I can give her 10% down but she still owes nearly as much as she is selling for. I could ask her to finance it for one year but how do I get it put in my name immediately?
I’m not even sure what additional information I need to determine the right way to buy this.
Experts, please give me suggestions.
Thanks