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Many mobile home deals are delayed or derailed because the lender does not know the specifics of financing a manufactured home loan in California. |
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Mobile home selling often require less work than a regular home, but the selling process can still be complicated. In order to get the highest return for your investment it's important to follow a few steps that can make things go more smoothly, and to keep in mind the financing differences between these and traditional homes. It is always recommended to use a Realty professional, so you can be assured that nothing is missed.
Many mobile home sellers try to recoup as much of their investment as possible by selling "for sale by owner," without the assistance of a real estate agent. This method allows the seller to keep all the profits from the sale, instead of spending five per cent or more on a Realtor's commission, but it includes several risks. It is difficult to find financing for your buyer (much more difficult than with a site-built home) without the help of a mobile home real estate agent. It will also take much longer to price the unit correctly, because a real estate agent has the industry experience to offer your home at the optimal price. If you do decide to sell FSBO it's best to give yourself 12 - 24 months before the manufactured home must be sold, so there's still time to work with a real estate agent if necessary.
Preparing a manufactured home for sale is less difficult than a regular home, since these homes are much smaller and easier to maintain. Your main concern when selling a manufactured home should be presenting the home as is, so buyers can easily see its condition. Buyers don't invest in mobile homes for the upgrade potential - in general, they want to be able to use the manufactured home as quickly as possible, without having to worry about structural problems.
My Great Home - Selling your manufactured home is easier than you may think, although it does require more effort than just putting a "For Sale" sign in the window. Proper planning and preparation for the sale, choosing a sales agent, determining the price and marketing your home should all be carefully taken into consideration.
Stretcher.com: Selling a Mobile Home - Things to Think About When You're Selling a Mobile Home: Make sure the manufactured home is considered "permanently attached", research a lender online who handles manufactured housing, do not neglect to advertise in Thrifty Nickel or Dandy Dime-type publications, be prepared to assist in creative financing options if you are able.
About.com: Home Buying/Selling - Facts About Modular, Manufactured & Site Built Homes with links to related articles.
Yahoo Answers: Selling a Mobile Home - Answers to a large group of manufactured home selling questions.
Mobile Home Selling Secrets - What's the problem with people today? This mobile home has been a great home for me over the years. What gives? I am sick of trying to sell my mobile home!
Mobile Home Selling Article - When a person is selling a mobile home they soon will know that it is just as hard as selling any home. There are some legal requirements that need to be taken care of prior to the sale being completed.
