Have you considered selling your mobile home in the Hemet area? In our latest post, we will take a look at what listing your mobile home vs. selling to an investor in Hemet will mean for you and your current situation!
When its time to sell your mobile home, you should have a clear understanding of what that will entail. Listing your mobile home with a real estate agent can take months, which can completely negate the profits a listing might bring in over a direct sale. Below, we will take a look at some of the pros and cons of listing your mobile home with a realtor vs. selling fast for cash in Hemet.
Listing Your Mobile Home
The Pros
An Agents Help – you will receive assistance with marketing and showing the property. They will get your property on the MLS, which requires the use of an agent. Keep in mind, an agent may not always show as much dedication to helping you sell your mobile home as they would a single-family property as their commission will be considerably less. In fact, most real estate agents avoid selling mobiles in parks because they believe it is not worth their time.
Broader Audience – By getting your mobile home listed on the MLS, it will quickly be seen by a broad audience, including other agents who are looking for properties for their clients.
The Cons
Wasted Time – As with listing any property, there are no guarantees when it comes to listing your Hemet mobile home. You may be waiting for months before you find a buyer and the sale goes through. Also, there is no guarantee you will get your listing price. You may have to lower your asking price, so be sure to take that into consideration. Never forget: each month your mobile home sits you are paying space rent and losing money. Always factor the space rent when deciding what you want to do with your manufactured home.
The Costs – When you list your mobile home, it is inevitable that there will be some repairs needed. These costs can add up quickly and will need to be paid upfront. It costs money to own the mobile home, so if the property is on the market awhile, the holding costs can add up. Each day the home sits you are losing money on space rent. You will also need to consider agent commissions and administrative fees. Always be careful when making repairs. Often, people spend thousands of dollars repairing their mobile homes and the sales price does not increase at all.
Showings – When your property is on the MLS, prospective buyers are going to want to see it. This means you will need to keep it clean and showing ready for those last minute people who want to drop by and see it. It can be difficult to pick up and leave when someone wants to see the mobile home, but you don’t want to make it difficult for people to see the mobile home either. Make sure you are very careful. If you do not have insurance on your mobile home and a potential buyer gets hurt when they walk through your mobile home, they can try and get into a lawsuit with you.
Sales Falling Through – When your buyer is obtaining financing to buy the mobile home, it will be subject to appraisal. If it does not appraise high enough, the sale can fall through. This can be very frustrating for owners who have been waiting months to sell. Also, financing on mobile homes can be extremely difficult to get. If you have a mobile home built before 1977 and it’s not on private land, I can almost guarantee you a lender will not finance the manufactured home. Make sure you don’t waste time with people saying they need to speak with their lender. Often times, they are confused and think mobile home financing is the same as single-family home financing.
Selling Your Mobile Home To A Direct Buyer
The Pros
Zero Wasted Time – When you sell your mobile home directly to Mobile Home Dreamin, you won’t have to worry about any wasted time. We close within a matter of days if you need us to. We can always stretch out closing to fit whatever timeline you are on.
Zero Cost – You won’t have to worry about making repairs, paying expensive commissions, or spending money to market the property. In addition, you can say goodbye to lot rent, utilities, insurance, and all the other ownership costs you face each month.
No Property Showings – There is no need to open the property up for showings. In fact, you won’t even be asked to clean up. We want to make the process easy for you. We will handle everything.
Guaranteed Sale – When you sell your mobile home directly to Mobile Home Dreamin, you won’t have to worry about things falling through. We have the money to buy your house right away and are not reliant on bank financing in order to purchase your property. Also, the price you agree upon to sell your manufactured home will be the price you walk away with. There are no hidden fees.
Know Your Closing Date – When you agree to sell to us, we will be able to provide you with your exact closing date and sale price so you can plan ahead. We will also close on the day that is best for you.
The Cons
Lower Final Sale Price – Many people are leery of selling to an investor because they are worried about a low price. However, once you think about all you save, the price difference is negligible. Remember, we take on all repairs while saving you a ton of time and energy. Our offers are always fair! The price we quote you for your mobile home is the price you will walk away with in your pocket.
Overall, a direct sale offers guarantees on things such as the price and the closing date, while a traditional listing does not. A traditional listing may achieve a higher final sale price, but the repair costs, agent fees, commissions, closing costs, and marketing expenses can easily negate the higher final sale price you may achieve. All of that, plus the cost of your time. For some mobile home sellers in the Hemet area, listing simply isn’t worth it.
Before you decide how you are going to sell your mobile home in Hemet, run the numbers to determine which way of selling will be right for you. At the end of the day, we want you to make a smart and well-informed decision about what you want to do. Explore your options and let us know how we can help! We are happy to make you a no-obligation offer for your Hemet area mobile home at any time!