Have you considered selling your mobile home in the Lincoln area? There are two general routes you can take. There’s listing your mobile home and there’s selling your mobile home to an investor. What’s more, when listing your mobile home you can use an agent for help or you can list by yourself (“for sale by owner”). Each approach has pros and cons to consider. In our latest post, we will take a look at what listing your mobile home vs. selling to an investor in Lincoln will mean for you and your current situation!
When its time to sell your mobile home, you should have a clear understanding of what that will entail. Listing your mobile home can take months. And listings that sit on the market for months will drop in value fast, and the buyer gets much more negotiating leverage. Plus you still have to pay expenses for the mobile home. Long listings can completely negate the profits a listing might bring in over a direct sale. Below, we will take a look at some of the pros and cons of listing your mobile home vs. selling to an investor in Lincoln.
Listing Your Mobile Home
The Pros
An Agents Help – If you engage an agent, you will receive assistance with marketing and showing the property. They will get your property on the MLS, which requires the use of an agent. Keep in mind, an agent may not always show as much dedication to helping you sell your mobile home as they would a single-family property as their commission will be considerably less.
Broader Audience – By getting your mobile home listed on the MLS, it will quickly be seen by a broad audience, including other agents who are looking for properties for their clients. The presentation will also be very professional and the marketing will ensure good engagement.
The Cons
Wasted Time – As with listing any property, there are no guarantees when it comes to listing your Lincoln mobile home. You may be waiting for months before you find a buyer and the sale goes through. Also, there is no guarantee you will get your listing price. You may have to lower your asking price, so be sure to take that into consideration. And while you are waiting during those months you will still have the fixed expenses associated with your mobile home.
The Costs – When you list your mobile home, it is inevitable that there will be some repairs needed. What may seem at first glance to be tiny repairs can reveal deeper structural issues, especially if it’s an older home. These costs can add up quickly and will need to be paid upfront. It costs money to own the home, so if the property is on the market awhile, the holding costs can add up. You will also need to consider agent commissions and administrative fees. Other hidden costs include marketing expenses and hiring a photographer for professional pictures.
Showings – When your property is on the MLS, prospective buyers are going to want to see it. This means you will need to keep it clean and showing ready for those last minute people who want to drop by and see it. So this means you cannot keep your personal items out because buyers don’t want to be in your personal space. It can be difficult to pick up and leave when someone wants to see the house, but you don’t want to make it difficult for people to see the property either. Last minute showings will be stressful to deal with.
Sales Falling Through – When your buyer is obtaining financing to buy the mobile home, it will be subject to appraisal. If it does not appraise high enough, the sale can fall through. This can be very frustrating for owners who have been waiting months to sell. This means that even after months and months of hard work and patience everything can collapse and you will be left with nothing to show.
Selling Your Mobile Home To A Direct Buyer
The Pros
Zero Wasted Time – When you sell your mobile home directly to Sell Lincoln Mobile Homes, you won’t have to worry about any wasted time. We can make an all cash offer and close within only a matter of days if you need us to.
Zero Cost – You won’t have to worry about making repairs, paying expensive commissions, or spending money to market the property. We buy mobile homes as is, so you can just take what you want and go. In addition, you can say goodbye to lot rent, utilities, insurance, and all the other ownership costs you face each month.
No Property Showings – There is no need to open the property up for showings. In fact, you won’t even be asked to clean up. We want to make the process easy for you. We will handle everything.
Guaranteed Sale – When you sell your mobile home directly to Sell Lincoln Mobile Homes, you won’t have to worry about things falling through. We have the money to buy your house right away and are not reliant on bank financing in order to purchase your property. We pay all cash so that you walk away with cash in your pocket for your next home.
Know Your Closing Date – When you agree to sell to us, we will be able to provide you with your exact closing date and sale price so you can plan ahead. We will also close on the day that is best for you.
The Cons
Lower Final Sale Price – Many people are leery of selling to an investor because they are worried about a low price. It is true that investors need to make a profit so the final sale price will be a discount to market price. However, once you think about all you save (not just money but time and stress), the price difference is negligible. Remember, we take on all repairs while saving you a ton of time and energy. Our offers are always fair!
Overall, a direct sale offers guarantees on things such as the price and the closing date, while a traditional listing does not. A traditional listing may achieve a higher final sale price, but the repair costs, agent fees, commissions, closing costs, and marketing expenses can easily negate the higher final sale price you may achieve. All of that, plus the cost of your time. For some mobile home sellers in the Lincoln area, listing simply isn’t worth it.
Before you decide how you are going to sell your mobile home in Lincoln, run the numbers to determine which way of selling will be right for you. At the end of the day, we want you to make a smart and well-informed decision about what you want to do. Explore your options and let us know how we can help! We are happy to make you a no-obligation offer for your Lincoln area mobile home at any time!