You want to sell your mobile home, but you’re not certain how. That is understandable, because although mobile homes can give residents a good and safe place to live, usually at an affordable price, they can also be difficult to sell.
If you’re in a hurry and don’t want to deal with first time mobile home buyers then you should consider working with a CASH BUYER.
The first thing to do in order to sell your mobile home is treat it like anything else you would sell. This means you will need to:
- Clean your mobile home as well as possible. This means power-washing the outside, vacuuming and shampooing the carpeting, and doing all you can to remove odors. If you have pets inside, you need someone who does not live with pets to give you an honest assessment about whether they can smell your pets. If you smoke, you will need to go through the same steps to remove that odor.
- Fix what needs fixing. That slow water leak in the kitchen that you “fixed” by putting a bucket under it needs to really be fixed. The discolored paint from the time the roof leaked, but was fixed, now needs to be repainted. Buyers do not want to shell out their hard earned money on a place they then have to spend more time and money fixing.
- You now need to get people interested in purchasing your mobile home. Part of that process is to find out its real value the home is really worth, and that determination includes its value can change based on where it is parked. If your home is clean, odor free, and in great exterior condition, that won’t matter as much if all of your neighbors’ homes look terrible. Also determine the size of the cash down payment you want. You will need to pay off your own lien, and most banks are not interested in giving loans to people for used singlewides, so as a seller, you may finance the home yourself.
- If you are selling your home yourself, you will need to have documents prepared. You can do that yourself, or you can have an attorney represent you.
- If you’re taking monthly payments, you will need their name, date of birth, social security number, where they work, a copy of their last two W-2 forms, and their bank account information. Self-financing means you will be in trouble if they skip town, so you’ll need to ensure you have enough information to find them again.
- The bill of sale that will describe the terms of the sales agreement including the down payment amount, how much is still owed, what furniture or appliances are included, and the year, registration number, serial number and other information about the home.
- Promissory note for those who are receiving monthly payments from the buyer. If you are fortunate enough to have someone pay cash, which can happen with mobile home sales, this paper will not be required.
- The Agreement after Closing is used if you agree that you can stay in the home for a certain number of days after closing. This agreement will include the number of days you can remain, the condition that you’ll leave it, and if you’re remaining for a time will affect any payments.
- Proof of insurance if you’re taking payments. If a fire takes out the home and the buyers don’t have insurance, you’re the one who will pay and won’t get paid.
Selling a mobile home is a different process that many home buyers or sellers are used to. Follow the steps and things should work out fine. Keep your documentation at hand until the last payment is made, and good luck.