There are many benefits to selling your mobile home to a direct buyer over a traditional listing. Learn more about our latest post about the best ways to sell your Denver, CO mobile home!
As a mobile home owner, when it’s time to sell it’s important to compare your options. Is hiring an agent making money? Have you got the time to sell it alone? Before deciding how to sell, ask yourself these important questions. In many cases, the most cost-effective solution can be a direct sale of your Colorado Springs mobile home.
Determining Value
Approximately 50% of mobile home owners own the land on which their mobile home sits, while the other 50% do not own the land. If the manufactured home comes with the land, if it is sold without the land, it is considered to be real property. Obviously, this will make a difference when you determine the sale value. If the mobile home is on leased land, the manager of the park will have some say in who can buy it. Also, keep in mind that your mobile home will depreciate over time, while the value of the land below it is likely to increase.
Selling Your Colorado Springs Mobile Home
There are a few things to consider to determine the value of your Colorado Springs mobile home area. How old is the estate? What’s the current state? What’s your neighborhood demand like? Many owners will choose to have a professional assessment done as prices for mobile homes 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
With a Colorado Springs real estate agent, selling your mobile home on the MLS can severely cut your profits. As such, many people choose to sell their properties to a professional mobile home buyer on their own. Listing with an agent can mean months before selling your mobile home, which for many people does not work. Furthermore, if you avoid selling your manufactured home to a real estate agent and instead choose to sell to a local investor, you will not have to worry about repairs, commissions, fees or marketing costs.
In any case, many agents shy away from these kinds of properties as commissions are low compared to single – family real estate. Some owners of mobile homes will enlist their park manager’s help when they sell. Make sure they are well versed in the process before doing this.
Selling On Your Own
It may take some legwork to sell your own mobile home, but it will help you avoid hiring an agent. First, you’ll have to repair it and clean it up. If you choose to create an owner listing for sale, or FSBO, you will be responsible for the entire process, which can turn into a lot of work, especially if you don’t know the process. You will have to pay for marketing costs such as online advertisements, print listings, printed items such as flyers, and signage in order to put them forward. You must also make calls, answer questions, and display the property as needed. Once you find a buyer, it will be necessary to create and process both the contracts and the escrow process. If you are committed to selling, by doing so on your own, you can save thousands.
Compared to selling to an investor, however, there are some drawbacks. Just like hiring an agent, you have no guarantee if or when the mobile home is going to sell. It may take days, weeks or months to complete. But if you’re looking for a way to quickly sell your manufactured home, working with an investor like[ company] is likely to be the best way you can sell it.