Selling your mobile home to a direct buyer has many benefits over a traditional listing. Learn more about the best ways to sell your Fort Myers 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 money to hire an agent? Do you have the time to sell it on your own? Ask yourself these important questions before deciding how to sell. In many cases, a direct sale of your Fort Myers mobile home can be the most cost-effective solution.
Determining Value
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 if it is being sold without the land, it is considered [ersonal property. This will obviously make a difference when you are determining the value of the sale. If the mobile home is on leased land, the park manager will have some say in who is allowed to buy. Also, keep in mind, your mobile home depreciates over time, while the land under it will likely increase in value.
To determine the value of your Fort Myers area 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.
Benefits of Avoiding The MLS
Selling your mobile home on the MLS with a Fort Myers real estate agent can severely cut into your profits. 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. 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.
There are a few reasons why many real estate agents avoid mobile homes. Firstly, the commission structure for mobile homes is typically much lower than for traditional single-family homes. This means that an agent would have to sell a significantly higher number of mobile homes to earn the same amount of money they could make from selling just a few houses. Secondly, the mobile home market itself can be more complex. There are additional factors to consider, such as park approval for the buyer and the value of the land the mobile home sits on (which the buyer doesn’t own). All of this can lead to a longer sales process and more potential roadblocks.
Given these challenges, some mobile home owners will naturally turn to their park manager for help in selling their property. This can be a good option, but it’s important to ensure the park manager has a good understanding of the mobile home sales process. They should be familiar with the local market for mobile homes, the park’s approval process for new residents, and the legalities involved in transferring ownership. If the park manager isn’t well-versed in these areas, it could lead to delays or even complications in the sale.
Selling To An Investor
Bypassing the traditional Multiple Listing Service (MLS) route with a realtor can offer significant advantages, especially if speed and convenience are your top priorities. You’ll eliminate the weeks or even months of waiting for a buyer to materialize through open houses and showings. The process itself can be quite stressful, with negotiations, inspections, and potential fall-throughs adding to the anxiety. Selling directly to a company like Core Real Estate Properties streamlines the entire experience. They typically present a cash offer within a short timeframe, often within days of seeing your property. This allows you to plan your move more effectively and avoid the uncertainty of the traditional market. The convenience factor is undeniable – you won’t have to worry about keeping your house spotless for showings or accommodating a realtor’s schedule. However, it’s important to remember that not all cash buyers are created equal. Doing your research on Core Real Estate Properties‘s reputation and their typical offers is crucial before entering into any agreement.
- 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.
- 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. 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. With a direct sale of your mobile home to Core Real Estate Properties, you will receive your money right away. You’ll know the exact amount you’re getting and on what day, so you can plan ahead accordingly.
Selling 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. First, you’ll need to make repairs and get the place cleaned up. 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 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.
While selling your manufactured home on the open market offers the potential for a higher selling price, it does come with its own set of challenges. Unlike working with an investor, you’ll be responsible for the entire selling process, from setting the listing price and marketing the property to conducting showings and negotiating with potential buyers. This can be a time-consuming and sometimes stressful endeavor, especially if you’ve never sold a home before. There’s also the element of uncertainty – there’s no guarantee of how long it will take to find a buyer. It could be a quick turnaround, but it could also take weeks or even months depending on market conditions and the overall desirability of your home. This can be a gamble if you’re facing a tight deadline or need to access the cash from the sale quickly.