Looking or need to sell your mobile home fast? Or did you inherit one you don’t want? Or do you need to relocate out of state? There are a couple options when selling your mobile home. There are private buyers and investors like us, and then there is the traditional open market. Selling your mobile home to a direct buyer has many benefits over a traditional listing. Learn more about the best ways to sell your Lincoln mobile home in our latest post!
As a mobile home owner, it is important to compare your options when it’s time to sell. Does it make sense to spend money to hire an agent? Do you have the time to sell it on your own? Keep in mind that the time commitment involved in selling on your own can be more costly than hiring an agent. Time is money. Ask yourself these important questions before deciding how to sell. In many cases, a direct sale of your Lincoln mobile home can be the most cost-effective and low-stress solution.
Value of your mobile home
About 50% of mobile home owners own the land their mobile home is sitting on, while the other 50% do not. If the manufactured home comes with the land, it is considered real property but if it is being sold without the land, it is considered personal property. This will obviously make a difference when you are determining the value of the sale, so do some research and find out your exact situation. If the mobile home is on leased land, the park manager will have some say in who is allowed to buy and live in the park. Be upfront about this criteria with potential buyers. Also, keep in mind, your mobile home depreciates over time, while the land under it will likely increase in value. So that’s just another good reason to sell your mobile home fast to an investor.
To determine the value of your mobile home , there are a few things to take into consideration. How old is the property? What is the current condition? What is the demand like in your neighborhood? Many owners will choose to have a professional appraisal done as mobile home prices can vary widely across the board. To avoid the cost of an appraisal, you can also check out the mobile home value reports from J.D. Power. They have reports at different price points, so you can pay for only the information you need.
Should you use an agent when selling your mobile home for cash?
Can you sell your mobile home using an agent? Yes, of course. But should you use an agent when selling your mobile home? And what are the pros vs cons between listing your mobile home vs selling to an investor?
Selling your mobile home for cash on the MLS with a Lincoln real estate agent can severely cut into your profits. You won’t have much left to keep in your pocket for moving expenses or to use for your next down payment. As such, many people opt to sell their properties on their own or to a professional mobile home buyer. Listing with an agent can mean months before your mobile home sells, which doesn’t work for many people. The longer your home sits on the listing, the more you will have to discount it. Potential buyers will think something is wrong with the home. In addition, when you avoid selling your manufactured home with a real estate agent and choose instead to sell to a local investor, you won’t have to worry about repairs, commissions, fees, or marketing costs.
Many agents shy away from these sorts of properties anyhow as the commissions are low as compared to single-family real estate. Some mobile home owners will enlist the help of their park manager when selling. Since park managers typically get inquiries from prospective residents, they probably know someone eager to move in. But before doing this, make sure they are well-versed in the process.
Selling directly to a private buyer
By skipping the MLS and the traditional process of selling, you will be able to save time and money, not to mention the stress. Consider selling directly to a private buyer in your area.
Here are a few benefits to selling your house directly to Sell Lincoln Mobile Homes. Keep in mind, not all buyers are the same.
- No Listing – You will not need to hire an agent to put your property on the MLS, or worry about commissions, agent fees, and administrative costs.
- Repairs – Don’t worry about any repairs or rehab work. Don’t stress about hidden expenses. Investors like us are happy to buy your home as is. Just be sure to let us know of any known or suspected issues.
- Marketing – There is no need to photograph, market, or pay for advertising. You won’t have to worry about marketing your mobile home or showing it to potential buyers.
- Cleaning – When you list any property, it needs to be kept clean for potential buyers in order to make the best impression. You will also have to do showings. These showings can come all of a sudden and at awkward and inconvenient times. With a direct sale, you won’t have to worry about the continuous cleaning that a listing requires.
- Time – There is no guarantee when listing any kind of real estate. Your property could sell in days or the process could take months and months. And when it takes that long, oftentimes buyers will request more and more discounts. With a direct sale of your mobile home to Sell Lincoln Mobile Homes, you will receive your money right away. You will also receive it in cash, and sometimes in as little as one week. You’ll know the exact amount you’re getting and on what day, so you can plan ahead accordingly.
Sell your mobile home fast on your own
Selling your mobile home on your own can take some legwork, but it will help you avoid the costs of hiring an agent. But be forewarned that selling on your own is not a passive process. Here’s a post we did outlining 5 ways to sell your mobile home fast in your area.
This is the general idea. First, you’ll need to make repairs and get the place cleaned up. This first step is often very daunting and will scare off many. When you choose to create a for sale by owner listing, or FSBO, you will be responsible for the entire process, which can turn into a lot of work, especially if you aren’t familiar with the process. You should expect to make many mistakes, and you should set aside some money for those expenses. You will need to pay for marketing costs such as online ads, print listings, printed items such as flyers, and signage to place out front. You will also need to take calls, answer questions, and show the property as needed. Once you find a buyer, you’ll have to create and process the contracts as well as the escrow process. If you are committed to selling, doing it on your own can save thousands.
However, there are some drawbacks as compared to selling to an investor. Because you will be selling on the open market and not to an investor, just like when hiring an agent, you will not have any guarantee on if or when the mobile home will sell. It could take days, weeks, or even months. If you have the time and money to wait, this might be ok with you, however, if you are looking for a way to sell your manufactured home fast, working with an investor like Sell Lincoln Mobile Homes will likely be the better way for you to sell.