Forum Discussion

GlampinLife's avatar
GlampinLife
Explorer
Oct 26, 2015

For Sale by Owner that is financed - Advice Needed

So we are selling our MH that currently has a $50,000 balance on the loan. We are going to try and sell ourselves if we can to make the extra money that we'll lose by trading it in on the new 5th whee...
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msmith1199's avatar
msmith1199
Explorer II
Oct 26, 2015
If I was a buyer, no way in heck would I ever give somebody $50k and trust they will pay off the loan. So you have to look at it from their end too. If I write you a check and it clears and you give me the motorhome, you can now take my money and head to Vegas. Eventually the lender is going to come after me and take their motorhome back and I'm left to try and get my money back from you.

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