All Forum Posts by: Tom M.

Copied and pasted from the Ohio Manufactured Homes Commission website.

**PHYSICAL CHARACERISTICS REQUIRED OF “USED†MANUFACTURED HOME DEALERS**
WHO NEEDS A “USED†LICENSE?
Any person engaged in the business of offering for sale, displaying for sale, or selling used manufactured homes at retail
or wholesale is required to obtain an Ohio manufactured home dealer’s license. Individuals disposing of their personal
manufactured homes may make up to five casual sales of manufactured homes in a twelve-month period, without a
dealer’s license

I'm no lawyer but I take "personal manufactured home" to mean any home the seller owns. So as long as the homes are your personal property you can sell 5 or less homes in a 12 month period and should not have to be licensed as a dealer.

The entire form can be found here:
http://www.omhc.ohio.gov/LinkClick.aspx?fileticket=4gpU8Xd4VKY%3d&tabid=70&mid=959

We just had a couple move a new home into our park financed with 21st so they are still making some loans.

Originally posted by William Walsh:

Originally posted by Marc Faulkner:

21st isn't financing anyone at the moment.

Is this still the case? I called them this week about a home and the person I spoke to gave me some of their guidelines for MH financing.

I probably should have raised my offer more but at the time I was worried we were coming on too eager and the list agent was trying to take advantage. I was told all final and best offers had to be on the table by Tuesday 5pm. Here it is Thursday night and I have still not heard anything on my offer. Is this a pretty common thing on a deal like this? My realtor says she does not want to hassle the listing agent and she knows we are eager and will let us know as soon as she hears. I get the feeling at this point no news is bad news although a return phone call would be nice.

If there still has not been a decision made tomorrow would the seller let me increase my offer one last time? My realtor seems to think the list agent already had her investor buyer lined up when she listed the home and wants to make sure they get it.

I really want this home and as a first time homebuyer tomorrows deadline is my moment of truth so I am starting to get pretty anxious about this deal. Could the lender who owns the property be taking it down to the wire to see if I will crack and offer more money? I can see why REO buying is not for the faint of heart but I am more emotionally invested in this home than any others we have looked into since we see it as a possible lifelong home.

Thanks for all the input guys. I really appreciate the insight.

Thanks for the help. I do feel better after increasing my offer I feel its more than fair and if I lose out now I will know at least I didn't get bested because someone came in just a couple hundred above asking when I really would have paid more. Just wanted to make sure this kind of thing was normal and not they were just trying to milk me for a little extra.

Buying a foreclosure as a possible life long personal residence has been an extremely frustrating process due to our strict standards and my insistence on finding a bargain. I am finding those big bargains are generally reserved for those in the loop. We have only made a couple serious offers but I have seen several money making opportunities watching these REO listings over the last year. I would be making offers all over if I could.

Originally posted by Realtyman:

Driving through other peopl'e MHPs allowed me to find deals to fill my MHP up. Carrying business cards with info on the back that you pay a $200 referral fee to anyone who recommends someone to buy a home from you or to bird dog a home for sale that you buy! Word of mout advertising is the cheapest source and having other eyes and ears open for deals helps you grow faster!

How did the management of the parks you bought homes out of respond to you? Or did you even talk to the managers. I manage my family owned park and have been searching for deals to fill our vacancies but was hesitant to approach the manager. Not sure how they would respond to a possible competitor offering to buy their homes up. I know how valuable a full lot is these days.

We could always bond over park manager stories or I could be told to get lost. Not sure how to play the situation.

I am a first time homebuyer and have been looking for about a year now for a good foreclosure to buy low and finally found the right one in our price range. I saw it the morning it came on MLS and called my realtor to look at it the next day (Saturday) and write an offer. The home seems to be a steal, only 9 years old over 2k square foot 2 story home on 3 wooded acres in rural ohio, sweet modern floor plan, 2 car attached garage, poured foundation and full basement....full of water that has ruined the furnace and hot water heater. From what I can tell this is more a result of our wet spring and having the electric off and sump pump not kicking on than any structural problem. Yard needs better drainage to get water away from home but I can get this done easily. Home sold for 170k back in 02 asking price 97,700 plus 3% buyer credit. As is must have proof of funds and 1k EM.

I offered full price with 20% down, declined the buyer credit, and offered to pay all closing costs. Offer contingent on inspection. I felt like this was a slam dunk at the time on Saturday. On Monday while I was getting my proof of funds letter my realtor called the listing agent and was told there were 5 other offers. Seller faxed my agent a form for me to sign with offer saying I knew there were multiple offers and chose to keep my offer the same. I signed and returned.

I talk to my realtor this afternoon and she tells me they must have all offers on the table by 5pm and will decide tomorrow. She says my offer is strong but if someone comes in a bit over asking price I could lose it, she thinks the list agent has already passed the property around to her investor friends and wants to sell to them. I told her to increase my offer to 99.
Did I get hustled for an extra 1300 bucks being too eager or did I make a possible good move? I figured a little extra if it could be the difference maker would be worth it for a home I could spend a lot of years in.