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All Forum Posts by: Adam Haywood

Adam Haywood has started 3 posts and replied 5 times.

@Rachel H.

Thanks !!!!

Does anyone know the latest and greatest on this subject ?

I am currently in the process of selling single wide mobile homes that are twice moved. No bank will finance a buyer on them, and so I am offering owner financing. It is my understanding that the big “enterprise” lenders have a moratorium on foreclosures and there is no new legislation affecting me or altering my rights to foreclose. By about July I am hoping to have a solid note or two but I’m concerned about the changing legal environment

Can someone advise or point me to the information ??

I am currently involved in a project in which we place used mobiles on vacant land and sell them. After the mobile is moved it is generally not possible to get financing on it, sometimes some people can get a VA loan, but we are not counting on that. We are planning on selling these units and offering financing to buyers.

I am currently familiarizing myself with the Dod Frank legislation...

Does anyone know about any Covid related anti foreclosure legislation ? Are there any new proposed regulations on the horizon ? What is the best source to find this info ?

And any other advice on the seller financing aspects of this situation ?

Thanks everybody !

@Bryan Burgett

Hey Brian,

You absolutely can go to an attorney....

If you are close with an attorney, or have an inside line to talk to one, do it.... not to begin immediate legal action but just to see where things stand and your options. You would indeed go to mediation first and if a conclusion that both parties feel good about Is not reached they it goes to the next level

He is a licensed professional, he is not allowed to perform to a non professional standards, and doing the work that he did with out ever pulling a permit or having anything inspected is ultra questionable, and depending on city specific codes and state specific laws, most likely totally illegal. Just because he did not pull permits does not mean he was trying to do something wrong, he can be a solid knowledgeable builder and have the knowledge and experience to do his duties well with no over site. I absolutely hate dealing with inspectors personally and in my own projects and at times, I would rather roll the dice and just go for it without out a permit ... but it is a dice roll .... you can potentially run into very sticky situations with disclosures were you to sell that place

We’re you to call the board of contractors and tell them about the situation, he would most likely be dead meat.. they would most likely decide he absolutely did not perform in a workman like manner, and if it progressed to legal suit, the judge would see his board found him guilty of wrong doing and rule in your favor

That being said.... I would make a serious attempt to communicate with him, try and get both of you on the same page, he miss bid your job and got it over his head it sounds like... and sounds like he really really wished he had told you 120k at the beginning ..... buuuut he did not. You guys signed the docs you signed and it is what it is now. Allowances can be made, and it sounds like you are making them. I would not threaten him or be hostile but communicate as transparently as you can what your upset about. See where that gets you. In my opinion the last thing you ever want is to involve someone else.... a mediator, a judge.... but if he is not willing to play ball and perform to the standards of the contract, and the no permit thing is absolutely not performing to the standards or his licensing.... you have no other recourse. See if you and him can reach a conclusion and if there can be amicable communication, if not, it’s time to begin mediation.

I am in the process of getting a killer deal on a used 1000 sq. ft., 3 bed 2 bath single wide built in 1990. I own a piece of property and am planning on setting it up there and flipping it. It’s tough for new buyers to get financing on mobiles and from what I am hearing it is not possible for a buyer to get financing at all if the mobile was moved from its original location. I’m having trouble finding solid facts on this, any one have any experience??