What problems to expect when paying cash for a bank repo?
Posted: Sat Apr 21, 2007 4:38 am
My property in Houston is under contract and I am planning on moving to the Alamogordo-Tularosa area of NM. (83 miles from El Paso) However, in this area, due to recent consolidation of air bases to Holloman, there is currently a housing shortage in the under $100k price range. I have an older horse that I would like to take with me, so would need 1+ to 2+ acres. There are lots with city utilities available other than septic systems. I have rehabbed lots of homes and moved a site built house (Sawed in half and married on site) before, as well as having many septic systems installed. Consequently, my thinking is that I can save money by doing the contracting myself. I have been following several of the dealers who advertise very reasonable repos on this site. What problems should I expect? (Excluding the lot, inspections, local rules and regs, permits, etc, which I will have no problems doing.) Are movers prepared to offer insurance for home while in transit? Where would I check out the dealers that advertise here? Do you think that I can accomplish this in 30 days from the closing on my property? Can always rent a motel room and board my animals, but give me an approximate time frame to complete the moving and set up on a permanent foundation. Thanks much! At 76 years old, this will be my last move, and I DO WANT TO GET IT RIGHT! xlm