Rushing to get your mobile home on the market? Not sure if you’re going to meet your moving deadline? It could be that you’re headed straight for delays and frustration. If you’re worried about moving on a tight schedule, the answer might be to forget traditional selling tactics and sell instead to a company that buys mobile homes.
You might be thinking, But wait! That’s not how it’s normally done. You’re right. Many mobile home owners are convinced that they must hire a real estate agent, list their home on the market, and wait for buyers. But what if there’s an alternative that can help you sell your home many times faster? Would you take it?
That’s where mobile home buying companies come in. And today in our seller sit-down, we’re going to be discussing what you need to know about selling to a company.
In brief: What a buying company does
Selling the “normal” way is what we call “selling retail” in the real estate industry. Because that’s exactly what it is. You’re selling your home to another individual for their personal use. On the other hand, there’s also an approach that’s called selling a home “wholesale.”
That’s what a buying company does: it purchases homes for a good price in order to resell them. A company isn’t interested in purchasing a mobile home to live in, but rather to sell for a profit. Of course that’s great for them, but how does this help you? Let’s take a look at the biggest benefit when selling your mobile home to a buying company.
Out of time?
The biggest benefit is time. There are other benefits, but we’ll get to those later. What you need to know about selling to a buying company is that it can literally shave months off of your selling timeline. What often takes weeks and weeks can happen in as little as 24 hours! And if you’re on a tight schedule for your move, this is great news.
Your situation could be a hundred different things. Moving for a job or school. Relocating to be near a loved one who needs support or moving after someone has passed away. Whatever it is, there’s time pressure. The stress of having to move quickly is difficult to ignore. It keeps you up at night. No one wants to be forced to move before their house has sold then be required to juggle payments on two homes while attempting to sell a home they don’t want anymore.
If you’re facing a crisis like this, then selling to a buying company can save your sanity!
Is selling retail an option?
Before we move on, let’s put in a word about selling retail. There’s nothing wrong with selling your mobile home the traditional way. Actually, if you have time, it’s far better to sell your home retail. You’ll make more money, plus selling when you don’t have the pressure of moving out right away is ideal.
So just because we’re praising buying companies a lot today doesn’t mean they’re necessarily the answer. You’ll have to make that decision based on your own circumstances. If you can sell retail, then do it! But if you can’t, just know that there are other options, and selling to a buying company is a good one.
The process of selling to a company
Since selling to a mobile home buying company is a little different than the home selling method you may be used to, let us clue you in. Don’t worry, the process is simple and quick. And most buying companies will follow a similar process to the one we’re outlining today, so you’ll know what to expect no matter who you work with.
Naturally, the first step is to find a buying company. A quick Google search can turn up any in your area, or you may find a company via the newspaper or an online classifieds site. On the company’s website, you should find some frequently asked questions, additional info, and contact information. Check out the company’s reviews, as well.
When you find a company that seems to fit the bill it’s time to contact them! Our company has an easy contact form you can fill out right on our website where we collect info about you and the value of your mobile home. But if the company you’re contacting doesn’t have a contact form, go ahead and give them a call.
Talking with a representative of the company on the phone is an important step. The rep will be able to answer any questions you have, as well as give a pre-assessment of the condition and value of your home.
Meeting with a buying company representative
Next, it’s time to meet with the buying company at your house for an inspection. After you’ve shown the owner or representative around, he’ll be able to let you know if he’s willing to purchase it or not. Sometimes, if a home is in particularly bad condition, a buying company will pass it by. Although this is unfortunate, that could be a clue that your mobile home won’t sell retail either. There are a few options for what you can do with mobile homes that won’t sell, so don’t despair!
More often, however, the buying company will make you a cash offer, sometimes in as little as a day. And it’s up to you to take it, leave it, or negotiate.
Sealing the deal
After you’ve come to a price agreement with a buying company, it’s time to sign papers. That’s right, no long, drawn-out closing rituals! After you agree on the price, all that’s left to do is sign a contract or purchase agreement as soon as possible. It’s that simple. Instead of a closing date that takes months to arrive, the mobile home changes hands almost immediately. We weren’t kidding when we said this selling method was quick!
Time to move!
Now that you’ve sold your mobile home, you’re free to move out. Let the company know your moving date so they can take possession of the home as soon as possible. This is important. In fact, if you can move out before you even sell the home, do it. Buying companies like to purchase empty homes because that’s easier for them and you.
If moving out immediately and before you contact a buying company doesn’t work for you, that’s fine. Discuss move-out dates with your buying company and get their take on it. How soon (or late) is convenient for them?
How selling to a company can benefit you
We’ve already discussed this in brief, but let’s deep-dive into it this time. What’s in it for you? How can selling to a buying company benefit you? And can it take some of the stress off you?
The answer to the last question is yes. Selling to a buying company can take the fear out of selling your mobile home. And since that’s what this sit-down series is about, we’re all for that! When you sell to a buying company, you have experienced investors and buyers working directly with you to close the deal. They’ll walk you through each step. There’s nothing to be nervous about and no pressure.
And this is only one of the benefits. Let’s outline a few more.
One of the great things about selling to a buying company is the cash you’ll be paid after you close on the deal. No closing costs, no realtor fee, no hassle. You’ll have that cash available to you to spend on your next home, home renovations, or any complication that comes with relocating.
Getting cash for your mobile home is great, but remember that there are drawbacks. For one, you won’t get as high an offer as you would on the open market. You’re selling wholesale, not retail, remember? Although sometimes you have to take what you get when you’re under time pressures, it’s something to think about. Are you okay with selling your mobile home for a lower cash offer if it means the process will move fast? Or would you rather wait and make more money?
Secondly, be wary of scams. It’s easier for a person or company to pull one over on a client if it’s a cash deal. For your own safety, make thorough checks on the buying companies you’re considering. Read reviews, get opinions from others, and make sure the company is legit. Also, be sure you have a realistic idea of what your home would be worth to a buying company. That way, you won’t get ripped off. Be cautious, but confident.
Not only does getting a cash payment on your house speed up the process, but there are also other time benefits. Like we mentioned earlier, when you sell your mobile home to a company you can move on. When the deal is done, it’s actually done. None of the back and forth of selling on the open market. And definitely no one backing out on the deal before the closing date!
The best part of all of this is that buying companies help you move on. You have a life to live. Having to hang onto your mobile home and try to sell it is nothing more than a hindrance. Maybe it’s even holding you back from having financial security. Maybe you have a new house payment and your unsold mobile home is making it difficult to make ends meet. Or maybe you want to move to a new state and a new job, but you can’t without selling your mobile home first.
Whatever your situation, selling to a buying company can quickly take the pressure off you and free you to move on with life.
Taking the fear out of selling
The quick and easy process of selling your mobile home to a buying company is perfect for inexperienced sellers or people who are simply nervous about selling. Selling a house can be intimidating, and there are so many things that could go wrong. Who wouldn’t be a little stressed?
But when you’re selling to a buying company, there’s not a ton of pressure. You’re not making repairs to your home just because it’s not “move-in ready.” And you’re not worrying about fees and closing dates and attracting buyers. Selling to a buying company, in many ways, takes the fear out of selling your mobile home.
And remember, a good selling company will be dedicated to giving you the knowledge and help you need to overcome that fear. Look for a company whose owners and representatives are excited to work with you. Find people who will be transparent about their process rather than try to scam you. Communicating, asking questions, and sharing knowledge are key when selling to a buying company.
Worried about selling your mobile home?
Just like purchasing your mobile home can be nerve-wracking, selling it can give you butterflies. It can make the most confident of us a little nervous. And that’s natural, especially if you’ve never sold a home before. Selling is not easy, but there are ways you can make it easier on yourself and your family. There are hundreds of moving hacks out there, yes. But sometimes all you need is a change of perspective.
Selling to a mobile home buying company may not be the first thing that comes to mind when you’re moving. But, as we’ve seen today, it can be a way to make the ordeal of selling easier on yourself. It can relieve a lot of stress because the process is simple. Call up a buying company, get a cash offer, make the deal within a short amount of time, and move out. The deal is sealed quickly and you walk away with cash in hand. That’s an option worth looking into if you’re nervous or just short on time.
Now that you know everything about selling to a company, be sure to check out the other installments in our seller sit-down series. We’ve got tips on how to sell when you’re out of time, everything you need to know about park owners, and more.