Accept motorcoach as a payment on my for sale house?

[Spdracr39]

Originally Posted by Bigriver123

we'd like to sell it fast because we need the money for medical expenses.

This is your answer. You will not get money fast in any situation involving a trade.

[baloo]

We have bought and sold five motorhomes, and bought and sold 16, yes 16, houses. A house is 100 times easier to sell than a motorhome. Motor homes depreciate faster than automobiles. Furthermore, everything, everything, goes wrong on a motorhome even if it is just sitting in your driveway.
If you insist on the motorhome, then ask for $10,000 cash in addition to the coach. Believe me, you will use that $10,000 within a year or two.
Lastly, do not get sappy about commiserating with his living situation. Once the deal is done, you are forgotten and you are left holding a bucket of slop, with no recourse, and stuck with taking a large loss.
Even selling your house for $30,000 will, in the long run, be a better deal for you.

[SSCowgirl]

Agree 1000%

[3xbear]

RUN. AWAY.
You would be foolish to think you can get money out of a 1973 bus conversion. The clientele for something like that is extremely limited.

Cash is cash.

[MD Prince]

Originally Posted by baloo

We have bought and sold five motorhomes, and bought and sold 16, yes 16, houses. A house is 100 times easier to sell than a motorhome. Motor homes depreciate faster than automobiles. Furthermore, everything, everything, goes wrong on a motorhome even if it is just sitting in your driveway.
If you insist on the motorhome, then ask for $10,000 cash in addition to the coach. Believe me, you will use that $10,000 within a year or two.
Lastly, do not get sappy about commiserating with his living situation. Once the deal is done, you are forgotten and you are left holding a bucket of slop, with no recourse, and stuck with taking a large loss.
Even selling your house for $30,000 will, in the long run, be a better deal for you.

Originally Posted by SSCowgirl

Agree 1000%

Originally Posted by 3xbear

RUN. AWAY.
You would be foolish to think you can get money out of a 1973 bus conversion. The clientele for something like that is extremely limited.

Cash is cash.

The Short Answer is NO - You need cash and not a 45 year old coach that YOU will have to sell (and first get it into selling shape). There is more to consider, but almost every important point has been brought up in previous posts. JMHO

[Kraken]

Originally Posted by 3xbear

RUN. AWAY.
You would be foolish to think you can get money out of a 1973 bus conversion. The clientele for something like that is extremely limited.

Cash is cash.

x2 Your trading a stable asset for a depreciating asset.

[StageCoachDr]

Originally Posted by Bigriver123

[moderator edit] The motorcoach's owner values it at 40,000, but says he's heard anywhere from 30,000 to 58,000. Here are the details along with photos:

Year: 1973
Maker: MCI Charter (MC-7)
Engine: 66,000 miles on a rebuilt Detroit 8v diesel.
Overall condition: Seems very good to excellent. Well maintained with well made interior. A few dings on the body.
Amenities: See photo #1, from the owner's ad.Attachment 220248

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Nice looking unit, but I endorse a previous comment "Really, really bad idea. You will be left with a bigger headache than selling your existing home. Wait for someone who can actually afford to buy your home."


Talk to the folks at 'We Buy Ugly Houses' before you take that unit in trade.

[winniman]

A friend had his heart set on an older Bluebird Wanderlodge rv. He traveled 2000 miles to buy one like he wanted for almost 20 grand cdn. Coming home, he blew the motor, and had to fork out close to 20 grand cdn to have a new motor put in. He got it home, and proceeded to fix all the small stuff that needed repaired. So now he has over 40,000 invested in this old bus. Unfortunately, my friend took sick, and past away a few months later. His widow put the bus up for sale. After months of holding out for more money, she sold it for 8000 cdn just to get it out of the yard. The bus in question here is very similar in story. It is a very rare person who wants a bus that old. They have no slides, and it can cost a fortune for almost anything that goes wrong. If someone has 40k to spend, they will buy a year 2000 and newer rv with slides, and more up to date interiors. Sorry, but my take on this deal is forget about it. I dont think any dealer would touch this bus with a ten foot pole. They might do the same as my friends widow, offer you eight thousand on the hope that that one person comes along who will pay 20. Good luck. Sorry to hear of your troubles.

[vineyardmh]

The '8V' engine is probably a Detroit Diesel 8V74 or 8V92. (some versions have turbochargers, others do not. You didn't specify engine size OR if it was turbocharged or naturally aspirated.) These engines are 'two-stroke' ....consume lots of oil...and can be maintenance nightmares. Many buyers would steer clear of any RV that had one of these Detroit Diesel Engines...even one with a claim of a recent re-build.

BTW - these engine designs were circa 1940's - and saw lots of service in WWII craft, trucks, etc....and the original 'builder' was General Motors (GM) - and these engines are called 'Screaming Jimmies'. This engine started getting minor upgrades in the 1980's...but went out of regular production in the late 1980's. They need some serious routine maintenance.

Mike



[QUOTE=StageCoachDr;4434168]Nice looking unit, but I endorse a previous comment "Really, really bad idea. You will be left with a bigger headache than selling your existing home. Wait for someone who can actually afford to buy your home."

[maryinred]

It's a very nice coach but old. I don't think I would do it....

[tinstar 1114]

Sorry about your medical problems BUT you may die from old age before selling that bus. I also agree with others; if they have $40k, they are going to buy something a lot newer.

[kenharris911]

Being new to IRV2 and having purchased an Older Class A RV, I with my minimal experience agree with all of the advice in this thread. I have been working to fix a long list of issues with my Older RV since purchasing my it and every time I think my list is about to close I add a few more to it. I love working on it and learning how everything works, someone said it is quite a bit more maintenance than a house, they have it right. The way I think of it you now have a house on wheels if it has a motor you now have a car and home to maintain all in one. If you do the deal be ready for a fix it list that will likely grow with age and miles. Someone also noted this will not address the medical bills, I would agree my RV has not been cash flow positive and I have done almost all of the work myself. Find a good realtor and sell the house seems to be the sound thing to do, based on your current situation. Good Luck

[Bradical]

I agree with all the previous comments, in that this does not appear to be a favorable deal for you. The first thing I recommend is to interview 3 Realtors in your area to get an idea of the actual market value of your home and how they will market it for you. Then hire the one you feel most comfortable with (not the one who tells you they can sell your home for more.) Indeed, the market values quoted by the 3 Realtors should all be within 10% of each other. A Realtor will be able to get you more money for the home (even after paying commission), has a vastly larger market of qualified potential buyers than you could ever hope to reach, will sell it much quicker than you could by yourself, is a trained negotiator that will work on your behalf, and will ensure the transaction is handled properly and meets all legal requirements. It is risky and difficult attempting to sell real estate on your own, and most FSBOs eventually hire a professional. Yes, some do successfully sell on their own, but it is a minority and I do not want to get into a discussion about it as this is an RV site and not about real estate. (Full disclosure, I am a licensed Realtor in Florida.)

Another point has to do with something my Father taught me years ago - "If there is any doubt, there is no doubt." In this case, that means that the bus will sell for much less than you hope. Otherwise, the owner would sell the bus and give you the cash. His inability or unwillingness to do so should speak volumes to you. Walk away from this deal. Good luck with the sale.

[Birdhunr2]

That RV looks really nice for the age. But, with age can also come unseen problems. I'm not an expert but, I do have a '92 Foretravel U225 in really good inside condition but paint that needs some TLC to remove Polyglow and a coating over the rubber roof is coming off. So, I do like older RVs. I paid $15.5K for mine a few years ago which I think was a decently low price for a diesel pusher with about 120K miles. It is already 26 yrs old. Yours would be another 19 yrs on top of that. (I know you said the diesel was rebuilt) But many other items probably were not. So, the age of many items could be a concern such as ACs, Generator, water heater, Starter, Alternator, heaters, Range, Oven, Refrigerator etc. RV Repairs are not cheap and will be a lot more expensive if you have to pay someone else to make the repair. I've done a lot myself. If you can't DIY then you may want to stay away from an RV 45 yrs old. Also, consider does dash AC work well, top ACs may be using older Freon that is getting expensive. Then there are the other items that should be considered in any RV over 4 or 5 yrs old. Tires, (not just tread left but tires age out at 8 yrs old), Battery age & condition. 10 new tires can cost from $2500 for Toyo to $5K or $6K for top brands. Batteries, can also be expensive. Also, the popularity of slide outs I think has significantly lowered the resale value of older RVs like the one you are considering. Another concern is the engine HP in many older RVs is typically a lot less than newer RVs today. It is a heavy rig so will it have the power to tow a toad? My 5.9B Cummings with Turbo stinger has about 280HP and does OK but, it can't keep up with the newer RVs with 350 or 450HP. But I also get about 10mpg. Also, Fuel mileage has improved a lot since 1973. The RV you are looking at is probably a lot heavier than most RVs today and may get 5 mpg. So, you need to consider how many miles you will be driving. Will it be used locally or are you going cross country and to Alaska and Canada. It doesn't really matter how far you drive. What matters is how long will you be staying after you arrive. An RV with a low MPG can be more expensive to use for a weekend trip than staying in a hotel. So, you need to consider will you be going to Florida for the Winter and parking in one place. Then Mileage doesn't matter too much. Or will you hopscotching around the US and Canada and staying only a short time in each spot before moving on. Then low fuel mileage is a consideration. Yours may have a metal roof which would be a big plus but if not then that needs to be checked. I know many people are asking 40K for really nice early and mid 1990 40' Foretravels and I've some nice Newell RVs that are probably mid to late 80s. Also some excellent restored Bluebirds from the mid to late 80's that I'm assuming folks probably wouldn't sell for $40K. and even unrestored ones people paid 20K+ for. But, as nice as your's looks, $40K for a 1973 seems like a pretty high price for something so old. If you really like it, and if you can do minor repair work like a new water heater, starter, Alternator, Microwave, etc yourself, and if the tires are less than 3 yrs old and Batteries seem good, then IMO $30K might be OK to pay. But if tires are old and batteries need replacing and Generator is original, I'd suggest you negotiate down from $30K. A new Refrigerator with dual mode can cost you $1100 to $1500 uninstalled. Just keep reminding the seller and yourself it is 45 yrs old some things will break. But let me also say there are brand new RVs that can be worse than buying one 45 yrs old. I met a guy that bought a new one one and it was a nightmare with leaking roof. mold & bacteria that sat on the RV lot for 8 months of the first year he owned it negotiating to get it repaired. Finally after returning to the MFG 3 times it got repaired but, if I was him I'd still be concerned about how good are the repairs. He is now so under water with a 1 yr old RV (front engine on Freightliner chasses) built by a company with such a bad reputation that he can't sell it and plans to keep it a few years before it gets unloaded on somebody else. At least you can bet yours wouldn't be as bad as that new one. Oh, check the Awning condition too. You really need to do a lot of "inspection" on an RV. Someone (if they were not honest) could n make a bad Fridge look like it is working properly for a short time even when it isn't. You need to park it in your drive (Level) and check it out for a couple of days. I do think it looks really nice and if you don't make a deal on it, I might be interested in buying it in the $30K or less price range. Or less depends on the tire & battery, Refrig etc working condition and age if not too far from NC to go look at. Oh, and if it doesn't already have a Jake brake or Exhaust brake to assist with braking you will probably want to add one because I suspect the RV is really heavy and you will probably want to improve the stopping distance. This is just my guess on the value. The suggestion to get a cash price from an RV dealer is a good one but, I'd keep in mind the dealer is also going to give you a really lowball offer because he also wants to make a profit for his troubles. You probably have no chance of actually buying an RV like that one at the cash price a dealer gives you. So, if you really plan to keep it and use it you could justify to value it at a higher value than the cash price a dealer will pay you for it. Also, to fill up Diesel and Propane can cost several hundred dollars or more depending on the size of the tanks so , you may also want to consider what amount of fuel is coming with the rig vs. what will you need to add.