Does anyone have any experience with a Receivership sale? I have not come across this before and I am curious how this may differ from a traditional sale on a MHP. Does a receivership sale pose any added challenges or benefits to a potential buyer?
Usually you get a less knowledgeable seller. That can be a plus or a minus as a buyer. You’ll want to due your due diligence before hand - if it looks real good on paper, get Steve Edel and his company to come out and look at it for you. They are thorough and they buyers I work with have reported nothing but good things to me about his company.
Correct–AS IS-- limited disclosures. Tenant issues/evictions? You could also get outbid before it closes