Selling a mobile home is not as easy as selling a mobile phone due do many legal as well as technical reasons. When selling your home, it is not just the selling part that is exhausting there are other tasks such as packing, moving to a new place, and getting your things in order. Simply put, there is a lot on your plate and diving into the process unprepared and uneducated is a mistake.
If you talk to people who have sold their Texas built mobile homes, they’ll tell you that scoring a profitable deal is not the only thing that one wants. In fact, there are other factors in the process that matter equally, if not more:
- Proper guidance (legal or otherwise)
- Avoiding being scammed
There are three different paths you can take while selling your mobile home viz. yourself, through an agent, or to a mobile home park. Discussing all three will give you enough knowledge to decide which path is best suited for you.
This path to selling your mobile home is obviously the most difficult path but often the most profitable. If you choose to sell the house yourself you will not only have to do market research and advertising but also get all the essential paperwork in order. However, doing all the things on your own means that you don’t owe anyone dues; which means you save a lot of cash. You can also get the price of your liking if you are a great negotiator.
Hiring an agent who has experience in selling mobile homes can be a great load off your check but finding a good and realizable agent is important.
Many agencies avoid selling mobile homes since they are not like selling conventional homes and need extra effort. Therefore, you will have to do your research and find the most trusted and experienced agent that will sell your mobile home for at a reasonable price.
Make sure you check the fee of the agent beforehand or you’ll end up getting overcharged. Normally the fee should not exceed 10% of the profit as it is for real estate.
Mobile Home Parks
Mobile Home Parks sometimes buy mobile homes to fill vacant spaces. However, if your mobile home is not already situated in the park it can cause major inconvenience. First of all, there will be the trouble of moving the mobile house to the park. Secondly, the price of a mobile home falls drastically after dislocation and the process of transportation is also costly.
On the other hand, if your mobile home is already situated in the park then it is quite convenient to sell it to the park. Moreover, you will not have to advertise for the home.
A good choice out of the three would be the agent. An agent is an experienced professional that knows the ins and outs of the selling and purchasing aspects.
There would be a minimum hassle as he/she would already have a protocol to follow due to years of experience of selling Texas built mobile homes. Lastly, your chance of being conned by the agent is also negligible as no agent would want to risk his/her reputation at the stake of earing a few more bucks from a single client.
Make sure that you are fully aware of your contract with your park. Sometimes in the signed contract the park has the first right to buy, or you are bound to pay rent for a certain period after removal of the house, or you need prior permission from the park authorities.
The point being, the park authorities can become a hindrance in the process, therefore, it is important to keep them on your side by keeping a friendly relationship.
You will need to have all the documentation you can get regarding the model, purchase date, manufacturing, maintenance, etc. of the house. Documentation is significant to get the most accurate quote of the house e.g. you will need to know the dimensions of the mobile house to get a quote.
Moreover, any papers that prove that the house was regularly maintained, painted, etc. will be added in your favor.
Next, you will need to find a reputable wholesaler with a stellar track record. You can visit websites of different wholesalers and see testimonials and choose the best among them. Beware not to solely trust testimonials. It would not hurt to dig a bit deeper and find if what they claim is actually true or not. It can be done by talking to some of their previous clients.
After this, the process gets quite simple. The wholesalers already know what to do as they have already sold several Texas built mobile homes. Normally, you’ll need to perform the following steps:
- Share information about your mobile home
- Get an offer
- Sign a purchase agreement
- Close the deal