In the last two months we have had two residents get offers for outrageous cash sales on their homes and both homes will be moved out. One was a 1990 16X80 for cash price of $32,000 and we decided we could buy a new Legacy for that and let it go out of park. But this is getting serious. Just this week we have a resident on a lease option who has received a cash offer of $22,000 on a 2000 Cavco, 27X48 and the buyer wants to pull it out. We paid $20,000 for the home in 2003 and they are asking us if we want to match the offer. OMG. Questions: how do we know this is just not a scam that the buyer is fake, or is the brother posing as a buyer? im afraid to call their bluff cause of the other ones above that were legitimate. I mean how do u really know this offer is for real? Since it is a 2000 Cavco and they owe us about $4000 we would pay $18000 for the home and think maybe that is worth it to keep the home in the park. These deals are in Colorado and make me wonder what is going on when now two residents are able to get over the market prices in cash for their homes in our park.So how do we prove the buyer is for real as posed above? thanks
Crazy that you’ve lost homes like that. I’ve never heard of such a thing happening.I’d ask them to show the offer to you in writing.Let us know how it turns out, and good luck,-jl-
This is a reality that I deal with, have cash at the ready to buy homes from residents or buy transport set,refill the lot…and no in house financing ( violates safe/doddfrank) then rent MH. This is a pretty big wrinkle in MHP operation gameplan.
I’ve never seen what you’re describing either. I would have to think that those offers are a bluff, as any idiot can buy a new single-wide home for less money, so why would they want to buy a used home at that pricing? On the doublewide, however, the price seems reasonable. Still, the whole concept is new to me. Traditionally, it’s the cheap homes that other park owners try to buy, and you better buy those or lose the home. But $32,000 for a 1990 16’x80’? That’s absurd.
Since your are carrying the note of $4,000 how come your contract to own allowed it to be moved until you were paid off. Since you have a secured note on it??? you needed to indicate if moved you had to paid off BEFORE it is moved. Since we have new homes for sale we have two prices one if it stayed and two if it is moved–that is your option, getting into a bidding war is nonsense and try to do follow up to get to the bottom of the situation–we would all like to know.
when the buyer for the home at $32,000 called the manager to get details she told him casually that “well when you move that house out we will fill it with a brand new 2014 for base price of $20,000.” later we found out the deal blew up so that one is still in the park and for sale.but, we could not get the 2000 doublewide to prove that they had a legitimate offer so we were forced to buy it for $22,000 less loans. The buyer was going to pay off the home with his buyers money and the new buyer was going to move it out. We figured we would lose months of lot rent and with buying new used doublewide and moving it in figured our cost could be close to $18.000 anyway so we are going to buy that home at end of this month. Oh by the way we have already sold it for $25,000 and new resident moving in on Sept. 1st. with higher lot rent and higher monthly payment.
Not sure of your location in Colorado, but this might be happening as a result of the floods that wiped out some significant areas of housing in the state. Folks should be starting to finalize their recovery by now with all the red tape, EPA, etc.