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Real Estate Investment
by Gerald R. Brown and George A. Matysiak (London, 1999)
Mobile Home Selling
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A mobile home selling takes just as much work as any home selling. But you’ll be happy to know that the price of mobile home has increased in the last year. A mobile home with two bedrooms can be worth as much as $2.7 million! It’s an especially staggering number because even in that price, the homebuyers don’t own the land of the home. Because of this, buyers still need to pay rent to the land owner, and faces little possibility in getting a mortgage. But fear not, mobile home owners – people chose to pay the price should have a picture of what they’re paying.
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Mobile home selling is actually not that different from any other home selling. There are some legal requirements you have to finish, though. The seller must be sure that all property taxes have been paid. You must also transfer the title to the new owner, applying a document stating that all personal property taxes have been paid. Most importantly, don’t forget to report to authorizing offices that you have transferred the title, otherwise the office will still charge the tax to you. Some areas would also require anyone engaged in the business of selling mobile homes to obtain a mobile home retailer's license.
Marketing a mobile home is the one that’s relatively similar to others. You can get the help of a realtor to make it even easier. Talk to your agent and put out advertisements – it’s always an essential process in mobile home selling. Expect people to call and come over to observe your house. During home showings, you might want to explain the ownership status of your mobile home (do you own the land? Whom should you pay the rent to?). The age of a mobile house is more important than other houses, so expect a lot of questions about this.
When you’ve accepted an offer by a buyer, take time in considering the price offered. Selling a home usually means buying another shortly after – whether you’re willing to invest in another mobile home or move to other types of homes, think about the overall cost and how it will be covered.
Mobile home selling requires a little bit of extra work in legal needs. But with the high price, this should not stop the sellers. There will always be people with different needs, one of which is for a mobile home, and the mobile home market will never run out of potential buyers. Remember that you can always hire a mobile home selling agent to help you get through the process!
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