Author Topic: Need help selling a mobile home  (Read 3160 times)

Kevin S.

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Need help selling a mobile home
« on: September 20, 2016, 09:08:26 AM »
Never sold any property before without a realtor. The mobile home is currently in a park. We don't own the land. Trailer was built in 96. Single wide. It's in relatively good condition. Everything works, new windows, paint and porches (courtesy of me).

I'm thinking of posting it online on a couple different websites. Posting a for sale sign in the window.

What else can I do ?

I've heard mobile homes can be hard to move.

What advice, help can you guys/gals of mustachiaiananananan'dom offer?

Thanks !

Miss Piggy

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Re: Need help selling a mobile home
« Reply #1 on: September 20, 2016, 09:28:13 AM »
I got nothin. Mobile homes are an entirely different "animal" than I'm used to buying & selling. I hope you get some good advice.

Kevin S.

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Re: Need help selling a mobile home
« Reply #2 on: September 20, 2016, 10:18:27 AM »
I got nothin. Mobile homes are an entirely different "animal" than I'm used to buying & selling. I hope you get some good advice.

That's ok. Thanks for trying "Miss Piggy"

I really don't want to rent it out if it doesn't sell. Hoping it sells quick. Might just have to sell it below market value for a quick sale...

iris lily

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Re: Need help selling a mobile home
« Reply #3 on: September 20, 2016, 10:23:50 AM »
Are your in a warm climate where mobile hmes are ubiquitous

shadowmoss

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Re: Need help selling a mobile home
« Reply #4 on: September 20, 2016, 10:30:02 AM »
I sold my older mobile home on Craigslist in Phoenix this past summer.  It was an interesting experience.  Just know that it is basically impossible to get a loan to buy a mobile home now, so your price may need to be low enough that someone will have access to the cash.  I was 1 for 2, I couldn't sell my Mom's mobile in the same park, she had to sign it over to the park.  It was nicer than mine, and she wanted less.  The fates can be fickle.  I was more patient than she was.  It took about 3 months, and the first few iterations of the ad didn't get me much.  Once folks started looking, I had a steady stream (ok, a couple a week) looking.  I reduced the price a couple of times.

Not sure what your market is where you are.  Mine was the +55 snowbird area.  The prospective buyers also had to pass the requirements to live in the park, which included a background check and net worth minimum (which was new with this new manager).  The manager scared off at least one buyer with her attitude.

Just things to think about.  I ended up getting the reduced price I wanted, because these buyers scoped out the manager and told her that they wanted one of the mobiles she had for sale.  At the last minute after they were approved to live in the park they 'changed their mind' and bought mine.  Hopefully you do not have the Wicked Witch of the West as a park manager

Miss Piggy

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Re: Need help selling a mobile home
« Reply #5 on: September 20, 2016, 10:43:41 AM »
The prospective buyers also had to pass the requirements to live in the park, which included a background check and net worth minimum (which was new with this new manager). 

Please don't take this the wrong way, but I find it fascinating that there's a net worth minimum required to buy a mobile home. Something doesn't quite jive there.

shadowmoss

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Re: Need help selling a mobile home
« Reply #6 on: September 20, 2016, 11:20:08 AM »
This manager is trying to make a mobile home park in Mesa look like an upscale resort +55 park in Scottsdale.  She is running the older residents out that don't fit the new image, and only letting in folks who meet her idea of who should live there.  I'm glad I'm out.  It used to be a nice, relaxed park with a strong community.  Over the past couple of years the snowbirds who were the backbone of the community events have died off, sold out (Canadians who decided it isn't worth it with the current exchange rate), or generally change over as some of the older mobiles get damaged in storms or fire and aren't worth fixing.  I hear about it from friends who still live there.

Fishindude

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Re: Need help selling a mobile home
« Reply #7 on: September 20, 2016, 11:26:01 AM »
Sometimes the owners of mobile home parks are the best source to find you a buyer.   Talk to the park manager about it and they might have some ideas.   After that, the usual advertising places like Craigslist.   I purchased a piece of property with a modular home I wanted removed several years ago.  Placed an add and a buyer bought and removed it.

Kevin S.

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Re: Need help selling a mobile home
« Reply #8 on: September 20, 2016, 11:29:09 AM »
Are your in a warm climate where mobile hmes are ubiquitous

No unfortunately I don't. I'm in Colorado. It's September...I'm scared I might be stuck with this dang thing until spring time.



Kevin S.

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Re: Need help selling a mobile home
« Reply #9 on: September 20, 2016, 11:37:40 AM »
I sold my older mobile home on Craigslist in Phoenix this past summer.  It was an interesting experience.  Just know that it is basically impossible to get a loan to buy a mobile home now, so your price may need to be low enough that someone will have access to the cash.  I was 1 for 2, I couldn't sell my Mom's mobile in the same park, she had to sign it over to the park.  It was nicer than mine, and she wanted less.  The fates can be fickle.  I was more patient than she was.  It took about 3 months, and the first few iterations of the ad didn't get me much.  Once folks started looking, I had a steady stream (ok, a couple a week) looking.  I reduced the price a couple of times.

Not sure what your market is where you are.  Mine was the +55 snowbird area.  The prospective buyers also had to pass the requirements to live in the park, which included a background check and net worth minimum (which was new with this new manager).  The manager scared off at least one buyer with her attitude.

Just things to think about.  I ended up getting the reduced price I wanted, because these buyers scoped out the manager and told her that they wanted one of the mobiles she had for sale.  At the last minute after they were approved to live in the park they 'changed their mind' and bought mine.  Hopefully you do not have the Wicked Witch of the West as a park manager


Ugh...this is what I'm scared of. The manager is not exactly a peach to work with. She has told me that she will need to sit down and interview the perspective buyers, run a background / credit check and then approve them herself after all her requirements are met. What the f bomb those requirements are I have no idea? The park is mostly middle to lower class working folk. Lots of latin people. Hopefully she is not huge road block in the selling process.

If you don't mind can you send a pm with the details of your sale. How much was it sold for? You said you sold your moms to the park? I'm guessing at a loss but just how much of a loss? I'm also selling this for my mom. My dad passed away and I'm in charge of all the financial crap that she or he did not take care of in a will. I have been making the lot payment for the last couple months and now that she is in a senior living apartment (thankfully) I'm ready to move this think quick(I don't have to though).

Ensign1999

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Re: Need help selling a mobile home
« Reply #10 on: September 20, 2016, 11:37:59 AM »
What do the rental possibilities look like?  Does the park allow for renters?  It could be a lot of wear and tear on a home that is prone to showing wear and tear faster than a traditional house, but it could be worth it if the numbers are right.

Kevin S.

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Re: Need help selling a mobile home
« Reply #11 on: September 20, 2016, 11:44:14 AM »
What do the rental possibilities look like?  Does the park allow for renters?  It could be a lot of wear and tear on a home that is prone to showing wear and tear faster than a traditional house, but it could be worth it if the numbers are right.


I'm not sure I want to rent it out. Sounds like a big headache. I can see the furnace blowing up. It's some weird electronic furnace. Too many variables for me...

Last resort I will probably just sell it to the park for a huge loss most likely.

shadowmoss

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Re: Need help selling a mobile home
« Reply #12 on: September 20, 2016, 12:52:16 PM »
I sent you a PM where I went into the dirty details.  I didn't see that I need to check a box to have a copy, so if you don't get it let me know and I'll try to recreate it.  I sometimes think I send messages when I forget some extra step, so it is a possibility this time as well.

Kevin S.

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Re: Need help selling a mobile home
« Reply #13 on: September 20, 2016, 03:42:27 PM »
I got it. thanks. Sounds like a tough situation. Possible even tougher than I thought trying to sell a mobile home...ugh.


okobrien

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Re: Need help selling a mobile home
« Reply #14 on: September 21, 2016, 10:57:17 AM »
Have you looked into seller financing it, since mortgages on mobile homes are pretty much non existent?  It could open up the pool of potential buyers.

Kevin S.

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Re: Need help selling a mobile home
« Reply #15 on: September 21, 2016, 02:43:41 PM »
Have you looked into seller financing it, since mortgages on mobile homes are pretty much non existent?  It could open up the pool of potential buyers.

I'm not sure what you mean? Are you saying I finance the loan - like via a personal loan backed by a piece of property? Sounds risky and possibly stupid on my end.


okobrien

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Re: Need help selling a mobile home
« Reply #16 on: September 21, 2016, 02:57:30 PM »
Have you looked into seller financing it, since mortgages on mobile homes are pretty much non existent?  It could open up the pool of potential buyers.

I'm not sure what you mean? Are you saying I finance the loan - like via a personal loan backed by a piece of property? Sounds risky and possibly stupid on my end.

Yes, so letís say Joe Schmo wants to buy it but doesnít have the $20K, or whatever it costs.  A bank wonít put a mortgage on it, but you could ask him to put down $5k and finance the rest yourself at whatever rate and term makes sense for something like that.  If Joe stops paying a few months into the deal, you foreclose on him and try with another tenant.  It may be a complete PIA and not worth your time, but it might work out well for you and Mr. Schmo.

Jeremy E.

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Re: Need help selling a mobile home
« Reply #17 on: September 21, 2016, 02:57:38 PM »
Never sold any property before without a realtor. The mobile home is currently in a park. We don't own the land. Trailer was built in 96. Single wide. It's in relatively good condition. Everything works, new windows, paint and porches (courtesy of me).

I'm thinking of posting it online on a couple different websites. Posting a for sale sign in the window.

What else can I do ?

I've heard mobile homes can be hard to move.

What advice, help can you guys/gals of mustachiaiananananan'dom offer?

Thanks !
I would do a craigslist ad, it can also help to try and get it in MLS if possible. Be sure to put how much lot rent is in ad and the name of the lot. Be sure to also tell them if you still have the axles, if they'd be easy to put back on, etc. as they might want to move it. If you allow buyer to use a long term escrow to buy house over time, it makes it a lot easier to sell as well.

Goldielocks

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Re: Need help selling a mobile home
« Reply #18 on: September 21, 2016, 04:08:37 PM »
I would make up a flyer and hand deliver it to every door in the mobile park I am at, and if there are others within 5 miles, to those doors too...   especially if you have a nice location, or someone would possibly think it was a "move up".

I would also look at seller financing options for  a portion of it, or "lease to own" -- where you rent it out at a good rate plus $200/month, and if they do not complete the sale in the time required, you keep the $200/mo for your trouble... Lease to own tend to keep the property nice, as they expect to have it for a long while.   It is also the only option available to young newlywed couples and such who can't afford a home any other way.

fishnfool

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Re: Need help selling a mobile home
« Reply #19 on: September 22, 2016, 06:34:50 PM »
We have my mom's mobile back in escrow again. 1st buyer had a couple hundred grand but no monthly income. The HOA requires a minimum mo. income, background check , credit check etc etc. Our new buyer is already a member/owner in the park. Is downsizing from a huge double wide to our single wide. So a sign on your mobile might be a good idea. Someone in the park might want it or know someone looking. Craigslist can also be a good place to advertise affordable housing. We're in a very HCOL area and mobiles are very popular, especially in a co-op with rent control like ours.
Good luck!

PS ...we did use a realtor.

Kevin S.

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Re: Need help selling a mobile home
« Reply #20 on: September 23, 2016, 12:13:50 PM »
We have my mom's mobile back in escrow again. 1st buyer had a couple hundred grand but no monthly income. The HOA requires a minimum mo. income, background check , credit check etc etc. Our new buyer is already a member/owner in the park. Is downsizing from a huge double wide to our single wide. So a sign on your mobile might be a good idea. Someone in the park might want it or know someone looking. Craigslist can also be a good place to advertise affordable housing. We're in a very HCOL area and mobiles are very popular, especially in a co-op with rent control like ours.
Good luck!

PS ...we did use a realtor.


Yeah the mobile home park / HOA  I believe is the same here. You have to be approved to buy a trailer first. I have heard from neighbors though that it's not a big deal. Basically no felony, recent bankruptcy, foreclosures, etc.

We are also in  HCOL area and I'm hoping that someone will buy it before winter hits here. Hard to move stuff in the winter time here (well at least when it comes to selling my cars previously it has been)

I'm thinking a realtor might be a good idea as well ! Possibly more exposure, less risk on my end?