Used manufactured homes are some of the hardest to sell, especially if they do not include land as part of the deal. They can be a headache from the start, so you need to be ready to jump through several hoops to find an eager buyer. Not many people are looking to buy an old manufactured home and for good reasons. You see, mobile homes are not exactly mobile, so learning how to sell a mobile home takes some careful thought.
Moving them is expensive, and in some states impossible, due to laws and regulations. If the land and the mobile home both belong to you, then you have a better chance at finding a reasonable deal. However, if you are leasing the land, the chances are unlikely. Here are a few tips on how to sell a used mobile home before it’s too late.
What makes selling a used mobile home so hard?
Financing for mobile homes is hard to get
It is tough for buyers to get financing for mobile homes, especially old ones. If your manufactured home is 15 years or older, it will be next to impossible to get financing. Banks are simply not willing to offer loans for old mobile homes, regardless of their condition. Lack of financing is usually the biggest hindrance to any prospective buyers interested in purchasing your home.
Not meeting the park requirements
Meeting your park’s standards is another obstacle to selling your old manufactured homes. You can have numerous buyers who are willing to take your old home, and may even have cash on hand but could fail to meet the park requirements. Different parks have different rules and regulations to fulfill, and even when a buyer has the full amount, you cannot close a deal if they do not meet those requirements.
One of the things you need to be ready for is the number of people who will come to view your home. The sheer number may overwhelm you, and most of them will claim they want to buy the home. In the end, many of them will run into various problems with the purchase. And even more will just disappear without a word. Don’t feel disappointed when you don’t get feedback from them; it happens a lot.
Realtors refuse to sell mobile homes
For traditional homes, the first thing you’d do is get a broker. It’s important to get a broker because agents can list the property through multiple services that attract numerous buyers. However, finding a real estate agent who is willing to sell your manufactured house can be tough. If this is the case, then selling your mobile home can become a huge problem because you have to do all the advertising and paperwork on your own.
Mobile home parks and dealerships won’t give you a good deal
In the case that you decide to sell your home to the park or a dealership, they will likely low-ball you to the lowest price possible. It is tempting to settle for such an offer, as they will probably be ready-cash buyers, but you will have to give them a great deal, or else they won’t bother. A great deal for them means a bad deal for you.
How to sell a used mobile home by yourself
Of course, this is not a hopeless cause, and there are things you can do to improve your chances of getting a buyer. Here are a few things you can do.
Clean your home thoroughly
Before you start showing your mobile home to potential buyers or even listing it, make sure you clean everything thoroughly. Remove all the unwanted clutter and move any stuff you do not use to an on-site storage unit. A clean and well-cared-for home will have a higher chance of selling than a home that looks like it needs care. Try to place yourself in the position of a prospective buyer and decide if you would buy your home. Vacuum, clean and deodorize your carpets and ensure that your bathrooms, windows, and kitchens are spotless so you can get a decent price for the house.
Make necessary repairs
If your old mobile home is in disrepair and needs some TLC, do it. Pay attention to plumbing, electrical and cosmetic issues that will turn potential buyers away. You might think that you don’t need to fix a house you are moving out of, but you will have a higher chance of closing a good sale this way.
Determine the value of the house
Before you start listing, hire an appraiser who will tell you the value of your home. An appraiser can recommend an asking price based on the condition of your old home and its location.
Advertise on the Internet
You can easily promote your mobile home online. Include pictures of the home (inside and out) with your ad so that more people have access to your property’s selling information. You should explore advertising avenues like Craigslist, online newspaper classifieds and local social media groups.
Consider hosting an open house
Hosting an open house gives more people the opportunity to view your home. At the event, it’s a good idea to hand out flyers about your home. Make sure to include your contact information. According to statistics, buyers who have something in hand have a higher chance of calling you than those don’t.
What will you need to close a sale?
A clear title
If you have a clear title that is free of liens or other problems, you will have a better chance of closing a deal. If you have any liens, try to remove them before selling your manufactured home.
Bill of sale
A bill of sale is what describes the terms of the deal. It states if your home is warranted, the appliances and fixtures included in the sale, and the price, among other things.
A closing location
You and the buyer can close the deal in your home, but the best place to do it is at a notary (your bank may offer this service for free). You’ll need one present to witness the closing of the sale.
Now you’re ready to sell your used mobile home!
These are the things you need to keep in mind if you are looking to sell a used mobile home. Old manufactured homes are harder to sell, but if you follow the tips above, you can find a willing buyer.