Many homeowners have nightmares about it. The dreaded situation where your house is on the market for months, you’ve already moved to another house, and now have two mortgages. And their fears aren’t unfounded. Hundreds of people find themselves in that position every year.
So the question is, how do you avoid the same pitfall? How do you put fear aside and move forward, confident that you can sell your home on your desired timeline? It’s time to find methods that actually work. You don’t want your home to become a money pit, and neither do we. That’s why we decided to sit down and let you in on all our tips for selling on a time crunch.
Previously in this series…
This is our third installment in a new series here on the US Mobile Home Pros blog. We call it our seller sit-down series. It’s just starting up, so let’s do a little overview of our previous articles. We kicked this series off by explaining what we want it to be: a relaxing chat about all things related to selling mobile homes. No pressure, just us sharing our observations and experience with you.
And in our second article, we talked about many of the reasons you don’t have to fear mobile home park owners when selling your mobile home. You don’t think you can handle your park’s management team? Well, you can! Check out our last post for the whole scoop.
Short on time?
Ultimately we want to take the fear out of selling your mobile home. We want to bring to light the entire process of selling because that fear isn’t helping you out. It’s just stopping you from achieving your goals!
Like we said before, one of the biggest fears mobile home sellers face is the fear of the time crunch. There could be a hundred different things that factor into that fear. You might be on a tight timeline because you are starting a new job in a month and need to move out of state. Or maybe you bought your new house sooner than you thought you would, and now you have payments to make on two homes.
Mobile home sellers vs. fear
Whatever your circumstances are, you’re feeling overwhelmed right now. You’re asking yourself questions like “What if I put all this work into selling, and there are no buyers?” and “What if I’m stuck with this mobile home for another six months?” If you’re on a particularly tight schedule, you may even start questioning your own sanity. How did I think I could pack up a house in a month, take care of my family, and house-hunt all at one time?
Why selling fast is your best option
Don’t worry, you’re not crazy for wanting to sell your home fast. Actually, you’re on the right track. Selling your mobile home fast is often the best option. Not every time, of course. (More on that later.) But for most homeowners looking to sell their mobile homes, selling as fast as possible can be a huge advantage.
Why? Simply because in real estate, often the time to act is now. Waiting to sell a mobile home is rarely a good idea. There are ways to get a good deal on your mobile home right now, which we’ll explore in depth in a moment. Beware of making hasty decisions, do your research, and find a buyer with integrity. But if you can get a good deal on your mobile home, we strongly encourage you to act now, not later.
Don’t fear the clock
A ticking clock is nerve-wracking. However, if you employ a few simple strategies you can improve your chances of selling your mobile home fast.
Stop problems before they start
Identifying trouble spots and addressing problems early on are some of the most important tools in your seller’s toolbox. Make sure your home can pass a house inspection when the time comes. A mobile home that doesn’t pass inspection can turn off a buyer like nothing else! There’s always the unknown, of course, but to the best of your ability, make sure your home is in tip-top shape.
Physical issues like the foundation, roof, plumbing, and electrical aren’t the only things to watch out for when getting your home ready to go on the market. Cosmetics is a trouble spot that sellers often overlook. Give your mobile home a boost with a little paint and some other improvements to increase curb appeal.
Not only will addressing these issues give you a better chance of selling your home fast, but they will also add value to your home. Your market value could go up significantly if your used mobile home is in the best possible condition, no matter how old it is. Buyers love finding a move-in-ready home and are willing to pay extra for it.
The price must be right
So much of the time, homes don’t sell because the owner has unrealistic expectations. That, paired with a buyer’s market and a not-so-great location, can spell disaster. Take a look at your local housing market and get some info on how mobile homes near you have been selling. Are they selling few and far between for low prices? Or does it seem like everyone in town wants to move into your park? Are prices skyrocketing during some months and bottoming out during others? These are the clues you can use to determine where to price your home to sell.
Don’t have unrealistic expectations. If your mobile home is twenty years old, the sad news is, it won’t sell for as much as the three-year-old home across the street. Accept that and don’t set your price too high. Potential buyers who know the market and value of your home won’t give your listing another glance.
Consider selling for cash
Since you’re looking to sell your home as fast as possible, you should seriously consider accepting all-cash offers. When a buyer pays all-cash, they’re paying the full price for the home. No financing. No down payment. Instead, they pay for the home here and now.
Sometimes, you can find an individual buyer who wants to pay cash for a mobile home. But more often, you’re looking in the wrong place if you’re advertising with private individuals in mind. Instead, to garner a cash offer, expand your horizons. Why? Because mobile home investors are always on the lookout for good deals on mobile homes.
You may not have considered selling to an investor or company. But if your priority is to sell your home fast, there’s no better place to look. Cash offers mean faster closings, and that’s always a plus when you’re facing a ticking clock.
And the best part? Mobile home investors aren’t as picky as a typical buyer would be. They aren’t going to be living in the home. In fact, some investors may be more interested in your home if it’s a fixer-upper. That gives them a chance to do a few renovations and flip the home for a profit. But we’re getting ahead of ourselves! More on selling to investors and buying companies in a minute.
To stage or not to stage?
Many home sellers have questions about staging. Staging decor and furniture in your home is supposed to help sell it, right? All the experts say so.
And they’d be right. Well, part of the time. We suggest deciding how you’re going to be selling your home before you decide whether to stage it or not. Are you hiring a real estate agent to show the home to potential buyers? Then you should definitely consider making that mobile home as beautiful as you can.
On the other hand, maybe you want to get a mobile home investor interested in your mobile home. In this scenario, don’t bother staging your home. In fact, investors and buying companies like to buy empty mobile homes. That way, they can quickly make a deal with you and move or flip the home just as quickly.
So clear out of your home as quickly as you want! Because sometimes it’s better to do the opposite of staging your home.
Hiring the experts
Although selling your home yourself can be a great option for some sellers, it takes longer than the other options we’ve been discussing. And since selling your home fast is what we’re talking about today, we’d advise you to strongly consider these alternative selling methods before deciding to sell your home FSBO (or For Sale By Owner).
As a mobile home owner, you have a unique opportunity when you sell your home. There are a lot of investors and buying companies out there looking for mobile homes to purchase. That’s something stick-built homeowners can’t tap into as well as you can. They’re pretty much stuck in the system of hiring a real estate agent or, occasionally, selling FSBO.
But what if you’ve been told that you should hire a real estate agent to help sell your mobile home? Is there a time when that could help you sell your home faster?
When you should hire a real estate agent
Although our favorite method for selling your mobile home, as you can guess, is selling to a buying company, we shouldn’t write off real estate agents completely. There are several scenarios when hiring a real estate agent can be a very good decision. Take a look at a few below.
- You need to move quickly, but other mobile homes in your park are selling like hotcakes. Plus, you think your mobile home will sell in a day or two for a good price.
- There’s a successful real estate agent in your area who specializes in mobile homes.
- Your home is in like-new condition. Let’s say you bought your mobile home new and have only been living in it for a year or two. You want to get as much money as you can for it, so working with a real estate agent is your best option.
- You have time. And you’d rather have the extra money than move quickly and miss out on a good deal from a private buyer.
Our buying process
Selling to a buying company is like selling to a wholesaler. Buying companies like us buy hundreds of mobile homes a year. Like a traditional retail company, we buy a lot of mobile homes for comparatively low prices. Then we flip those homes and sell them retail.
Why is this applicable to you? Because we sell mobile homes retail so you don’t have to. Even though you might get a lower offer from us than from an individual buyer, the benefits you’ll get outweigh that additional money in most cases.
We often make all-cash offers on mobile homes within 24 hours. That means that you can close on your mobile home in record time and be free to move on with your life. We know how difficult selling a mobile home can be, and we want to take all of the fear and uncertainty out of it for you. That’s why we strive to make deals with our clients fast, because that takes the worry off you. Then we’re free to handle the hard parts for you!
Next week we’re going to be discussing what your selling process will look like if you have some time on your hands before you need to sell and move out. Actually, that scenario could present a good opportunity to sell your mobile home retail (traditional home selling – to a general pool of interested buyers). Don’t forget to come back next time for all the details on selling retail.
If you’re moving soon and feel like you’re carrying a lot of stress and worry on your shoulders, take a deep breath. It doesn’t have to be that hard. Use the tips and strategies we discussed today and sell your home confidently and quickly.
And don’t forget, we have a lot more expert advice in store for you in the coming weeks. If you want to know more about the Seller Sit-Down Series, check out our introduction to the series here.