Posted by Ernest Tew on November 15, 2001 at 06:19:35:
Steve, if you are confident the mobile home would sell for $9,000 to $10,000 on terms (which sounds reasonable), you could pay up to $5,000 cash and still make a handsome profit. Keep in mind that the interest you can earn over a period of time will be in addition to the markup in price and can be a major part of the profits.
Just make sure that you will be able to keep the home in the park. Moving and set-up can be expensive.
Need help for auction!! - Posted by Steve
Posted by Steve on November 14, 2001 at 20:45:48:
1994 Fleetwood 14x70 3br/2ba, stove, refrig, diswasher, small deck on front and back, new heat pump, storage building and underpinned. Absolute auction due to divorce. No back taxes or lot rent. I went with someone from auction firm today to inspect it, looks almost new. No leaks, all appliances clean and work.
Can stay in MH park if owner occupied.
Auction company showed me state appraisal form, MH 12,800
with improvements (deck, heat pump and storage building),
15,000.
They have advertised wrong auction date. Auction will still be this Saturday, not advertised date. They said only one other person have inquired about it and they expect a very low turnout.
Since this is an absolute auction what would be good maximum bid? I don’t want to go above 3500, but may go a little higher if I have to.
I am sure it would easily sell for 9,000 - 10,000.
Any advice appreciated.