I had a verbal agreement with a seller to buy a park near Akron. I got an attorney and drew up a Land Sales Contract per the Sellers Terms. When He returned from His long weekend he indicated that he had 2 other buyers interested. He had my contract in hand and saod he would rather sell for cash and be done with it. This morning I get an email saying he signed a Letter of Intent for another buyer, but said He that his priority is still to sell to a cash buyer. The broker said he was more comfortable sellinhpg to a local rather than me being in California, even though I had an onsite Manager ready to move into the park.
The park is 315k, 32 Lots plus a cottage, and has great upside.
This park has been extremely mismanaged due to a poor property management company.
I am looking for a short term private lender, to allow me time to fix up the park or I am looking for a partner to cash him out..this partner can be short term or long term. Within a year, this park will be worth 500k. If interested, please contact me. Thank you, Sandy