We have had 3-4 mobile home residents who have handed their keys back to their chattel lenders recently. Depending on the bank, the home is repo’d, then auctioned off either as highest first offer wins, or mhp owner (me) gets first right of refusal. The latter one is not the issue, rather it is the former method that causes concern.
We have a regional re-marketing manager who seems to have an agenda, and never awards us the home, despite placing competitive bids. Truthfully, he must be getting a kickback from the other more seasoned repo poachers/bidders.
Ordinarily, I wouldn’t be upset if someone else purchased a home in my mhp (saves me a ton of $$, and restores the home to productive use), however I am starting to feel that the buyers are prepping to pull the homes. How should one address this situation? I am debating giving free rent til the homes are resold (if these people do as they say) provided that I get a right of first refusal, vs. playing hard ball and securing the homes to make sure they don’t escape at night.
This isn’t the first time in this industry it’s happened - I am surprised others haven’t been posting about this issue.
What do I do?
Thanks in advance. jkmhp