Hello, We are in the process of closing on a new home in San Antonio. We currently have a 1993 Palm Harbor 4/3 lots of room located in a park. We bought it for over $53,000 and only owe less than $20,000. We DO NOT have to sell the current home to close our new home…but don’t want double payments and lot rent.
I have a lady who states interest and wants to pay $10,000 down and “owner finance” with a payoff in 5 years for her daughter and grandchild. She wants to move it to her property in Poteet, which already has hook-ups, etc. How do I close this deal and what contracts need to be signed…
As a second option I have a couple here in the park who are currently renting a single-wide from the park that were promised the first double-wide, but management has changed and now the new management won’t transfer them. They want to do a lease, option but only have $1,500 down and another $1,500 in 8 weeks. I don’t even know if the park will allow them to move…My current payments on mortgage are 283.00 and lot rent is $270.00 per month, plus insurance and taxes…
Any advise on just how I need to pursue the lady with $10,000 down. What contracts to prepare, etc. We just want out of this house with a little equity.
How can I make option 2 work if Option 1 does not work out… Any suggestions would be appreciated.