For many homeowners, when they think about selling their mobile home, the first thing they will do is look around for a local realtor.
Agents can be a wonderful asset when selling your manufactured home, however, it is not the only option you should consider. By doing a little homework, you can successfully sell your mobile home on your own, saving you time and money overall. In our latest blog post, we will cover some of the most common costs of a traditional listing, so you can determine if hiring an agent is the optimal choice for you!
The Pre-Listing Costs
Before you consider putting your property on the market, take a look at other homes on the MLS. Check out what people are asking for comparable properties and more importantly, look at what comparable properties are actually selling for, in your park. How does your mobile home stack up? Will people opt for your home over the one next door? You will need to look t it from a buyers point of view. They will want to get the most for their money. This means you will likely have to make some repairs, touch-ups and even upgrades to the home in order to be competitive. Mobile homes that sit on the market lose interest among prospective buyers over time. If the property doesn’t sell, people will likely believe there is something wrong with it. You need to come out of the gate with a house that wows potential buyers and proves to be an amazing value for the money.
Agents don’t work for free. Many realtors work incredibly hard and deserve every penny you pay them. That said, be skeptical of those who don’t. While every agreement is different, when you commit to listing with an agent, you also commit to paying their commission which typically runs about 6% of the final sale price. You will own the agent this amount, even if you sell the property yourself to someone you know. In addition, some agents will charge you for administrative costs, listing fees, marketing, listing sites, photography, and more. Make sure you know exactly what’s included in your listing contract as no two agents are the same.
At The Closing Table
Once the closing date comes around, in addition to paying your agent, you will also have to come up with the closing costs. You can usually estimate this to be about 2% of the final sale price. The closing costs include things like appraisal fees, taxes, HCD Fees, title search, transaction coordinator, credit checks and more. With a direct sale to HRG Home Buyers, all of these costs are covered for you.
Time Is Of The Essence
When you list your mobile home, you are in a sense, gambling. You aren’t promised any guarantees such as how much you will get or when the mobile home will close by. This can make it difficult to plan ahead and move on with your life. In addition, you will have to continue paying the monthly costs for the home such as insurance, taxes, space rent and monthly utilities. An agent can list your home for any price they want, however, that doesn’t mean you will get it. With a direct sale to HRG Home Buyers, you will be able to know the exact amount you will receive as well as the closing date before signing anything. We aim to make the process as easy and simple as possible.