Thanks for the info. Not really what I want to hear but good to know.
We actually pay up to $5k in costs for anyone to bring a home into the park and that’s about what it costs to move and set a home here. In this case, the buyer was supposed to get enough to pay the home in full and then we just pay the moving costs. Now it looks like the buyer didn’t get enough to buy the home outright - only $7K instead of $10K. We are looking at loaning him the difference but then this matter with Greentree came up. If I understand you correctly, we’d have to buy the home for $10K, pay Greentree in full and insure a home to which we don’t have “clear” title. Then we’d move and set the home after requiring the buyer to put $7K in an escrow account with our attorney. Once we get the title from GT, we’d transfer it into our names and then turn around and sell it to the actual buyer for $10K, $7K cash and $3K loan. Back to the title department we’d have to go in order to transfer it again and then the buyer’s insurance would take over from ours. We wind up with a filled lot, a lien for $3K, and spending $5K to fill the lot.
Does the above sound right or have I missed something.
We’re OK with spending the $5K as we make it back in 22 months. Had we not spent it and got a home in, the lot could easily sit there vacant for that time period.
Starting to wonder if this is all worth it given the risks involved.