Mobile Homes

[Sheena Prattis]

What is the best way to buy a mobile home and sell it BEFORE having to pay the lot rent?

Is it possible to negotiate a sales agreement with the seller, place a small deposit, and before the final date to purchase, find a buyer? If so, how will I be able to show the home to any potential buyers if I only have a deposit placed on the home- I will not have access to show it.

[Sean Brooks]

@Sheena Prattis Let me answer your questions specifically... YES YOU CAN.

The park never even has to know about your agreement with the seller.

I create an Option Contract or a Bill of Sale with the seller which lays out all the terms of the deal. Typically I put very little down, I mean literally next to nothing (sometimes nothing but shush don't tell ;-).

They key is to get them to agree on 2 things. 

1. Amount of days before you have to close

2. ACCESS TO THE PROPERTY!

**You also want to have a liquidated damages clause in the contract too, this way, if you market the home for 2 months and can't find a buyer, chances are, you didn't get a good deal, or you don't know how to market. Either way, you can back out of the deal and the sellers will keep your deposit.

The key is in the negotiation. I tell my sellers I will need access to the property to show some of my partners, clients, contractors... i.e. basically anyone I think needs to see the property in order for me to close the deal.

So once they agree to that, BOOM! You are golden.

THEN, market your butt off to find a buyer. If 10 people want to see the house, you basically treat it like an open house.

Schedule ONE time for all them to show up to. Make sure to get there early and get your sellers out.

Then you accept an offer. And now the END BUYER, goes to deal with the park and getting approved and what not so you can make sure the deal closes out and everyone gets paid and every one is HAPPY HAPPY HAPPY.