Do you own a mobile home in the Houston area and need to sell it quickly? Or maybe you inherited a manufactured home, and are just ready to get rid of it? Selling a house is never easy regardless if it’s a stand-alone home or a mobile home. Though, when it comes to selling your mobile home, it is quite a different process compared to a traditional house. Finding all the tips and tricks to sell your house fast are pretty easy to find online, but what about a mobile home? Not to mention how do you even figure out what your mobile home is worth? To better understand the process and how to sell a mobile home in Houston, our guide walks you through the process of selling a mobile home.
Selling Your Mobile Home Under Different Conditions
Selling a mobile home is no more difficult than selling a traditional house as long as you own the land it sits on. But if you don’t own the property your trailer home resides on, selling it can be a bit harder to navigate. Not impossible; just more involved. Here is a closer look at why that is.
Selling your mobile home when you own the land it sits on
When you own a trailer home as well as the land it sits on, the selling process is similar to a traditional home sale. If you plan to sell it yourself, you will handle the advertising, showings, negotiations, contract, and closing arrangements with the title company. Another alternative to selling your home is to hire a realtor to handle most of the work, but just remember that you will be paying 6% in agent’s commissions for their services.
Selling your mobile home when you don’t own the land it sits on
When you don’t technically own the land the manufactured home sits on, the selling process is a bit different. Your home isn’t classified as real estate but instead personal property, which impacts how you can sell the house.
Many trailer owners live in mobile home parks and lease their lot from the owner of the park. They don’t own the land but are in a “lot lease.” If this is you, to sell your mobile home, you need to involve the park owner to proceed. The park has rules and regulations, and the new owner needs to abide by the rules, as you have to live there. The park owner usually requires documentation stating that the new owner will be compliant to park regulations and the lot lease. Also, the park owner has the right to approve or disapprove of your potential buyer, which makes the sale process more complicated.
Before you start marketing that you’re selling a mobile home, check with the park owner if he or she has the “right to first refusal” or “first right of refusal.” Both terms are interchangeable and mean the park owner has the right to buy your trailer home if he or she matches the offer of a buyer, allowing the park owner to control who lives in the park.
Now that you know how to sell a mobile home with and without land, you are probably wondering what other steps are involved in selling my mobile home?
Other Steps To Sell A Mobile Home In Houston
- Clean inside and out
- Do repairs
- Determine how much it’s worth
Cleaning inside and out
Try to clean your mobile home as well as possible. Powerwash the exterior to remove dirt and debris. Vacuum and shampoo the carpets to help get rid of odors from pets or smoking. And tidy up as best you can. Showing potential buyers a clean home gives the impression it is well maintained. Plus, would you buy a dirty house?
Make sure to fix anything around the house that needs fixing. That slow leak under the bathroom sink that you “fixed” by putting a bucket under it, really needs to be fixed. Potential buyers don’t want to shell out more hard-earned cash on a place that they have to spend money and time fixing.
Determine How Much It’s Worth
Several factors go into the value of a mobile home. It is important to know how to price your trailer home just right to attract buyers and sell your mobile home fast. Here is what to consider when determining what your mobile home is worth.
- If it has moved
- Current market conditions
- Special features
Let’s take a closer look, one by one.
Age has the most significant impact on the value of your manufactured home. Just like cars and trucks, trailers depreciate over time. The reason being they are not thought of as real estate but considered personal property. But, depreciation may offset if you own the land your trailer is sitting on. Meaning you may still come out ahead if the land your mobile home is sitting on is increasing in value. For reference, depreciation percentages are around 3 to 3.5 a year.
Manufactured homes that have been moved sell for far less than those that haven’t been moved (initial delivery does not count as a move). Moving a mobile home is risky since the chassis and structure can be easily damaged and get twisted. Also, if the home has been moved two or three times, financing can be tough for potential buyers to line up. Lenders tend to stay away from relocated manufactured homes.
Just like traditional houses, a bigger trailer is worth more than a smaller trailer. There are three standard widths manufactured homes come in: single, double, and triple. Typically, there is a higher demand for double and triple wide trailers than single wides. And usually, this translates into a higher square footage value giving you the ability to ask for more than your single wide neighbor.
The location of your mobile home plays a significant role in determining its value. Is your home in a region where people want to live? Is it by a lake or ocean? You will be able to ask more for the trailer than if located in a ghost town, a depressed area, or by a sewage plant.
What about if your trailer resides in a mobile home park? The condition of the park, amenities offered, lot rent, and fees may impact your asking price and property value.
Current market conditions
If the current housing market is in a bubble or depression, both could impact your property’s blue book value. Remember, though, that regions or states can experience different housing conditions. So focus on your area to get an accurate idea of what your trailer is worth.
Don’t forget to account for special features or upgrades you have made to your property that would add to its value. Some amenities that may add value include
- Hot tubs
- Enclosed porches
- Upgrades like a kitchen or bathroom
- Energy-efficient appliances
- Solar panels
If you decide to add any special features, just make sure to comply with the HUD requirements. An addition out of compliance can hurt, not help your property’s value. Keep in mind too, that for a buyer to get standard financing, your trailer must be HUD code compliant.
Determining The Value Of Your Mobile Home
There are a few ways you can put together a property evaluation for your mobile home. You can get an in-person assessment done by a property appraiser or pay for an online appraisal.
A reputable source for an online appraisal is the National Automobile Dealers Association (NADA). They offer free guides and estimators that can give you an idea of the value of your used trailer home.
Another Option: Sell To An Investor
Some trailer owners don’t want to deal with the hassle of selling their mobile homes. If this is you, you should consider selling to an investor like Very Fast Home Buyers.
Very Fast Home Buyers help homeowners all over the Houston, Texas area sell their home on their terms.
They offer hassle-free, fast purchases, and require no repairs or renovations. The only inspection they do is to assess your home and determine its as-is value. They will make you a fair cash offer, and, if you accept, close in as few as 7 days or on your schedule.
A title company handles the paperwork; everything is done in a smooth and easy process.
As you explore the value of your mobile home value and the possibility of selling it, contact them to learn how they can help.