Posted by Chuck (AZ) on July 26, 2001 at 02:27:16:
Strange deal… makes me wonder why he put 50% down… people that chunk out money like that should be risk-free.
All he can do at this point is run the legal gambit to get it back… “default of contract to purchase” obviously.
For “Lonnie-deals”, I suggest (use) a clause that specifically states that if the lot rent or payments are in default that the T/B has 7 days (after written notice) to vacate, and make them sign or initial it.
Fortunately, I pre-screen out the wazoo (credit, criminal and employment checks), and have never had a problem.
If your only going to do a couple of deals a year, I wouldn’t worry about the license. However, if you even think it’s going to be more than that… call the Office of Manufactured Housing at 602-255-4072, and tell them you want to get a D-8 (their terminology for the proper license). It costs $540 and takes about three weeks. You have to take a test, but if you purchase a copy of the Statutes & Rules (about $2.00 as I recall), they’ll tell you what they’ll test you on.