People come from different paths in life. While most of us have similar needs and goals, our resources and personal preferences vary to a great extent. As such, some of us rent a place, some take loans in order to be able to afford a house, and others buy a mobile home.
In life, however, all things come and go. If you’re a manufactured homeowner and you’re reading this article, chances are you want to sell it – rather sooner than later. Still, despite the many advantages of owning and living in a mobile home, you may have some issues with finding a buyer for it. If you want the sales process to go smoothly, you need to adopt the right approach from the beginning. That’s why we prepared a list of frequent mistakes made by first-time mobile home sellers. If you want to find out more, keep on reading!
Mistake #1: Little to No Advertising
The most common aspect overlooked by people who want to sell their mobile home is advertising. The entire sales process can be a bit problematic – you probably won’t find many people or parties who openly say “we buy mobile homes” or “we need a mobile home ASAP,” unless you’re very lucky. Buyers with cash are an equally rare occurrence. Don’t get discouraged, though! With the right tool, we guarantee that you can find qualified buyers for your mobile home.
Sometimes all you need to do is to help your luck a bit. First, ensure that your mobile home is well-maintained and looks nice. Come up with an attractive price, and we bet you’ll find people who would be interested in your offer. Then, let people know what you have for sale. You can put signs in your yard and windows to attract the attention of passers-by. Don’t forget about advertising online, on bulletin boards, and in your local newspapers. If you don’t get the word around, you won’t sell your mobile home as fast as you’d like.
Mistake #2: Assuming a Sale
A good rule of thumb is to remember that you don’t have a deal unless it’s officially closed. Some buyers can be tire-kickers: they give you the impression that they’re ready to finalize the purchase only to change their minds last minute, leaving you with the problem all over again.
If you want to sell your mobile home quickly, consider reasonable offers only, and never assume that you sold your property unless you receive cash or money transfer, hand over your keys, transfer the ownership, and pay all the necessary legal fees. Before that happens, keep advertising your home and be on the lookout for prospective buyers.
Mistake #3: Rushing With the Sale Process
Another mistake that people who want to sell a mobile home make every so often is to rush with the sale process. A mobile home is a significant purchase. Living in it is more than fun, but it’s not cheap, and you need to put time and effort into proper maintenance in order to keep it in pristine condition. Maybe you bought a mobile home on a whim, tempted by all the wonderful stories and pictures, fed up with paying rent yet wanting a place you can call your own? However, if reality failed to meet your expectations, don’t try to get rid of it as fast as possible.
The chances are that sooner or later, you will find a buyer. However, don’t settle for less than your property is worth. You may be in a hurry to sell it and get some money for it, but waiting for a reasonable offer is always better than selling something quickly. More often than not, you’ll end up regretting it.
Mistake # 4: Not Getting Liens Recorded
As we said before, finding a buyer willing to pay cash is possible, yet not very likely. Sometimes people can’t find buyers who are able to transfer the whole amount right away. In this case, the best solution is to agree on monthly payments and come up with a payment plan.
The following step would be to get a lien recorded. It’s your financial claim on a property – in this case, a mobile home. It’s going to bind the buyer to the property and release them when your sales deal gets closed. You’ll have to make a court filing in the county where your mobile home is located, which means that legal regulations may differ depending on the state. However, it’s your best bet to ensure the payments go as planned, and that the entire transaction will ultimately be successful.
Mistake #5: Failing to Ensure the Transfer of Ownership
As a property owner, you should be receiving tax information and corresponding mail. After you close your deal and successfully sell your mobile home, you should proceed with after-sales legal steps, including the transfer of ownership. If you fail to do so, you’ll still be responsible for the property that’s no longer yours, including taxes and any legal issues that concern it.
Both sellers and buyers may not be fully aware of the after-sale processes and legal regulations. Sometimes they may even consciously avoid them, for example, for fear of disclosing illegal residency, or because they want to avoid paying taxes and transfer fees to local authorities. However, as a seller, you should learn about the proceedings following the sale of your mobile home to avoid any legal trouble later on.
The Bottom Line
The entire process of purchasing and then selling a mobile home can be quite challenging. Don’t get discouraged, though! Now you know the most common mistakes made by people who want to sell a mobile home. It may be a bit challenging, but it’s not impossible. There are many people who would like to purchase one, just like there are companies and websites dedicated to buying and selling mobile homes.
Even though finding a buyer quickly won’t be an easy task, keep in mind that people choose to live in mobile homes due to their numerous benefits. They’re easier to set up and move than stick-built homes, not to mention they’re a great, cost-effective alternative option. Try to avoid the mistakes we discussed above, and you’ll likely sell your mobile home faster than you think. Good luck!