How to Sell A Mobile Home By Owner

How to Sell a Mobile Home By Owner

There are hundreds if not thousands of new and used mobile homes up for sale everyday. While it’s fairly common for the housing market to be packed with options, mobile homes offer a unique selling point as well as benefits for potential buyers.

When selling your mobile home, it is important to determine what these unique selling points are, how they can drive up the value of your property, and how they can help get your listing sold.

In this article, we talk about the steps needed to sell your manufactured home, the legal considerations, and marketing tips to get you ahead of the game.

How to Sell a Mobile Home By Owner: Selling Process

The minute you decide to sell your mobile home, you want to start gathering as much information as you can and get requirements sorted out. This way, you not only fast track the sale, but you can also move on to your next investment.

Understanding the Market Value of Your Mobile Home

Your home’s total market value takes a lot of factors into consideration. Not only are your property’s features and advantages important, but the market conditions and current supply and demand in your area also play a role.

The reason why understanding your mobile home’s market value is crucial is because you get a better picture of how to competitively price it. You not only know how much you can get from it, but you also know the minimum asking price to settle for.

Lastly, if you are planning to renovate areas, you can better allocate your budget to improving parts of your space that can increase the value further.

Listing Your Mobile Home for Sale

Listing Your Mobile Home for Sale

Opting to sell through a local agent or broker who specializes in manufactured homes can fast track your listing. They can efficiently secure your property on a variety of sites through the Multiple Listing Service (MLS), which is a massive database of home listings.

On the other hand, selling the mobile home without professional help will require more legwork. You will have to manually list it on sites, do all your advertising online and offline, figure out the financing you accept, and all other information needed to close that sale.

Steps to Sell Your Mobile Home

Step 1: Determine whether or not your home is a personal or real property

More often than not, manufactured homes are categorized as personal property or chattel. However, if you own the land it sits on and has a permanent foundation attached, it can be considered real property.

The reason why it is important to determine what category it fits under is because the two types of properties are sold differently.

With personal property, you will only need a notarized transfer of title, bill of sale, proof of taxes, and certificate of occupancy. It takes less paperwork and once it’s sold, all you need to do is transfer the title in their name and they can transport the structure from your land.

However, with real property, both the land and mobile home will be sold together and the requirements are similar to when selling a traditional house.

Step 2: Get pre-listing appraisal

Get pre-listing appraisal for your mobile home

Before listing the home for sale, get it appraised to confirm the home’s total value. This step also helps you identify areas that need repair or replacement such as wiring, plumbing, pests, and the like. This not only helps you resolve issues and bring up the value, but it can also help prevent voiding a contract clause on the buyer’s end.

Step 3: Price competitively

Once you have a number on your home’s value, research the demand for mobile homes in your area. If supply is low and demand is steady, you can price a little higher. It would also be good to understand the demographic of those purchasing so you can make more informed marketing decisions.

Step 4: Consider offering financing options

You can further expand your target market by offering more financing options such as FHA Loans, VA Loans, Owner Financing, or Chattel Loans. The first two can finance mobile homes classified as real property while the rest can qualify for chattel loans instead.

Step 5: Partner with a local agent or broker who specializes in mobile homes

sell your mobile home with a local agent or broker

Mobile homeowners can benefit from partnering with a local agent or broker as they can help facilitate the sale. From contracts and marketing to closing, you will have support from experts within the industry that have a proven track record of selling similar types of properties.

Step 6: Stage efficiently

In this digital age, we guarantee most if not all homebuyers are initially searching online. This is why it is important to present your home in its most desirable state even in photos and videos you post. The little details can make a huge difference in how well your first impression goes, too. Be sure to repair any driveway cracks, replace damaged sidings, and keep it neat!

Moreover, you want your buyer to visualize the space as their own, which is why it is a good idea to depersonalize the property. You can do this by removing pictures on display, keeping the certificates on the wall, hiding your personal collections, and so on.

Step 7: List it as furnished (Bonus: Increase the value with more features)

Mobile homes are often viewed as an affordable way into real estate. This generally narrows down your market to retirees, low-income families, or those looking to purchase a secondary home, among others. The target market is not necessarily looking for a space they need to decorate from scratch, which is why listing it as furnished can increase its value. Moreover, upgrading certain features can also help you earn a nicer profit.

Legal Considerations

As with selling any other type of property, there are legal considerations to keep in mind. These are in place to protect both you and the buyer throughout the entire process.

Bill of Sale Requirements for Selling a Mobile Home

Bill of Sale Requirements for Selling a Mobile Home

The bill of sale is a document meant to outline every detail of your transaction to ensure both parties mutually agree through each step. The information to include are:

  • Complete mobile home description, which includes VIN, serial number, make, model, and yes.
  • Buyer’s name, address, and contact information
  • Seller’s name, address, and contact information
  • Sale date
  • Sale price, inclusive of taxes
  • Terms and conditions of the sale

Difference Between Selling Personal Property and Real Property

The main difference with selling personal and real property is that the latter is attached to land. Selling a mobile home classified as real property would include selling the land with it, while homes considered personal property can be sold on its own.

Moreover, selling personal property requires much less documentation compared to selling real property. More often than, all you will need when selling personal property is a notarized transfer of title, bill of sale, proof of taxes, and certificate of occupancy. With real property, you will also need homeowners insurance documents, manuals and warranties, mortgage payoff statement, home appraisal report, and much more.

How to Transfer Ownership of a Mobile Home

How to Transfer Ownership of a Mobile Home

If your mobile home is classified as real property, you will need to visit the Department of Housing. However, those considered personal property or chattel will need to go to the Department of Motor Vehicles. Once you determine which office can assist in transferring ownership, you’ll need to undergo the following steps:

Step 1: Lay out the terms and conditions of the sale including the price.

Step 2: Get the list of required documents which may include your tax certificate, title application, bill of sale, lien release, warranty, and others.

Step 3: Have the documents signed, notarized, and finalized.

Step 4: Secure the sale and make copies of all relevant documents for your own records. Once done, file the transfer of ownership at the Department.

Marketing Strategies

Now that we’ve covered the legal aspects of it all, let’s discuss how to effectively market your mobile home for sale to get a good deal in a shorter period of time.

Effective Ways to Find Potential Buyers

It’s not secret that mobile homes offer a unique selling point compared to traditional housing. They are not only flexible, but also more affordable and just as customizable. One of the best ways to find potential buyers is by leveraging on the lifestyle advantage your home can offer and communicate that with your target audience.

Once you have your message set, market your home on social media, through traditional marketing, use word-of-mouth, and list it on property sites.

Working with Real Estate Agents for Selling Manufactured Homes

Working with Real Estate Agents for Selling Manufactured Homes

Another way to get your mobile home purchased quick is through working with real estate agents and brokers who specialize in manufactured homes. They not only have the tools and resources to fast track the sale, but they are also backed with enough experience to assist you with all the legalities.

Location Matters

When it comes to real estate, location has been and always will be king. This is just as relevant with mobile homes, considering the added advantage of having flexible placements depending on the homeowner. Manufactured homes can be moved from state to state, on owned or rented land, or even to a mobile home park. These options matter when putting it up for sale as it can either limit or widen the possibilities.

Regulations and Guidelines

Every state has their own laws and regulations when it comes to selling or even transporting manufactured homes. Some may require more legal papers than others, and still some have varying tax rates. It is important to consider these when putting your property up for sale.

Considerations When Selling Mobile Homes Inside a Mobile Home Park

In addition to the laws of the state where a mobile home park is located, the park itself can also have its set of regulations. For one, the buyer must also rent a lot within the park and pay move-in costs, such as a security deposit.

Moreover, most parks have qualifications which every homeowner must be eligible for before moving in.

Selling a Mobile Home Without Land: Things to Keep in Mind

Selling a Mobile Home Without Land

If the mobile home for sale is currently on your property or on a rented lot, there are a few things to keep in mind when selling a mobile home without land.

For instance, if the structure is on leased land, both the seller and buyer must consider the terms of the landlord. If the contract is not yet over, will the buyer have to continue? If the landlord is mobile home park, the buyer will also need to meet certain qualifications.

You’re All Set!

The process of how to sell a mobile home by owner is fairly straightforward. However, partnering with a local agent or selling your mobile home through Mobile Home Sell not only helps you get a better price, but you no longer have to worry about the negotiating aspect. Moreover, all legalities such as preparing of documents and filing them in relevant departments will also be covered for. If a smooth and easy transaction is what you’re after, contact us today!

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