My 1st Motivated MH Seller....please Help! (TX)
I got a call from one of my bandit signs. They have a land/home package with a 1993 redmond trailer (DW 3/2) They bought it in 93 for 41K, they owe btwn 15 and 18K, $1200 behind in pmts. I can't pull comps, but others are listed on the MLS for 55K asking (I know this means little, but its the only info I can find). How or would you make an offer on this? Are these OK spreads? One thing that concernes me is he said they never had the flexable plumbing fixed. Thanks for the help, they are hoping that I give them an offer tomorrow.
CR
You need to do more due www.diligence.Call the bank or finance company and get the payoff on the loan including the back payments and www.penalties.On the surface it looks like a potentially very profitable www.deal.If you can get it for under $20,000.00 , you may want to offer the owners $2,000.00-$3,000.00 to start over.