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Updated about 6 years ago on . Most recent reply

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Billy P Whyde
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6
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A deal without worry?

Billy P Whyde
Posted

I am isting a bank property on a manufactured home on 6 acres it is 20 years old will need a new roof, about every wall has been punched through, carpet will need to be replaced, possibly no HUD plate as I didn't see it. Bank says sell as is, list for $68K I know personally the adjoining property owner wants to add to his property and will pay the $68K pronto, he already had precertification of the loan done. I took the offer from a flipper friend of about $70K and shut the offer off early thereby rejecting the offer of $72,000 by the adjoining property owner.

  So my acquaintance who I have sold properties met the adjoining land owner as he thought the property might be being stolen from.  In the discussion the adjoining land owner said he was very upset over the matter and my flipper advised him he was the owner. The adjoining land owner was about to part when my flipper offered to sell it him and asked for a offer and he offered $85K but was rejected as my flipper wants $95 K as is with no repair. Do you think we can pull this off and split the $25K between us? Or do you think the adjacent owner may back off,start a war by placing wrecked autos in his field, clear cut the woods to destroy the properties view or maybe get stuck with it as we would have to put at least $20K into t to sell it if we could. The adjacent property owner has already reported me for not having workers comp for my maintenance crews,

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