Posted by Ed Copp (OH) on June 16, 2005 at 08:17:21:
very common with vacant land.
Slow pays, and no pays go to the “repo-depo” department, sooner rather than later. If they don’t pay then they can’t stay, simple ad that. Get a good sized down payment, so you will at least have funds on hand to give 'em the boot if they need to be booted.
Mobile homes left behind are considered to be something that is parked on my property so should be assessed a reasonable rental fee for parking, per day. Afret a few days and the proper notice to the owner, the next step would be to place a lein on the mobile home for parking fees, etc. At that point the mobile home could be sold for fees owed to you. In this process you might end up with the mobile home.
Then you could do the process again, only with a mobile home included in the deal.
owner finance land - Posted by Doug
Posted by Doug on June 15, 2005 at 21:05:15:
I have 6 acres trying to sell but most folks that call want owner finance. I know from experience that banks are hard to deal with on land purchases. What are the pitfalls, if any, with owner financing the property? What about slow pays or no pays? What if the buyer puts a mobile home on the property but doesn’t make the land payment? How do you get your money or the mobile home off the land? Any insight into the pitfalls of owner financing land would be appreciated.
Re: owner finance land - Posted by Diana
Posted by Diana on August 23, 2005 at 23:28:26:
Me and my husband is looking to invest in some land located in mississippi. It would be for investment, and hunting. Maybe someday when we retire it would be great to build there. But like you said most banks don’t lend money for just land investments. Do you have any suggestions? Are can you steer me in the right direction. Thanks