The World is growing.
That’s no-brainier statement.
These days you can get your food delivered to your door step, you can do ALL your Christmas shopping online, you can learn about quantum physics without ever stepping into a classroom, you can trade stocks without a stockbroker, and create a will without an attorney… now more and more people are leaning towards the do-it-yourself mentality simply because, it’s so easy to learn how to do these things.
So, as self-sufficient as everyone is, why wouldn’t you want to look at the benefits of selling your mobile home without an agent in CA?
If you’re looking to Sell Your Mobile Home … then…
3 Reasons to Why You Might Consider Selling Your Hemet, CA Mobile Home Without An Agent
An agent is costly for mobile homes.
That’s because they don’t get the luxury of making a ton of money on commission for a high-priced item, because mobile homes aren’t priced very high.
They aren’t making the usual 3% on a $500,000 sale (which comes out to $15,000). Instead, a realtor selling a manufactured home will only charge $5,000-$10,000. That’s because 3% of a $80,000 is only $2,400!
So, for a manufactured home, it’s not worth it for an agent to charge based on a percentage of the sale, but rather a flat fee.
This is a pretty large amount that’s taken from the final sale price if your mobile home isn’t worth much.
Also, that doesn’t include the closing costs. But, no need to stress too much about that, closing costs for a mobile home is far less than a stick built house.
NOTE: one caveat to this, is if your home is valued anywhere from $50K-100K plus. At that price your dealing with buyers with more cash in their accounts and they most likely will use an agent them selves to find a home. So, using a an agent is sometimes recommended depending on the circumstances.
You’re Your Own Negotiator
With the swarm of agents these days, and it’s hard to believe that an agent is more qualified than you in negotiation just because they went through the necessary steps to get their license.
Don’t get me wrong now, a good agent is a God-sent. But a bad agent does nothing but shuffle documents for you. Don’t be forced to get an agent just because it’s the “typical” thing to do.
One of the duties of an agent is to negotiate with the buyers. But, here’s a secret… there’s not much negotiating happening with mobile homes.
Usually, there’s all but one bidder on your property, and usually we take the first bidder. And in mobile homes, there are no bidding wars. So the only negotiation that will take place is on things that need to be replaced/repaired. For instance, if the home is missing hand rails and screens and the park needs this to be done, then you and the buyer figure out who will pay for what.
Negotiation of price doesn’t happen much. More often, its negotiation of the other components like terms.
So, if you feel you’re qualified enough to do this by your self… then you can do it as good, or better than a realtor.
Beyond negotiating the sale price, sellers might feel they are more versed to sell and negotiate the transaction than an agent.
Sellers experienced in mobile home transactions might be comfortable walking through the process and negotiating items at different points in the escrow process.
When a mobile home seller feels comfortable dealing with a buyer and/or their agent, he can save a few thousand dollars of the commissions by representing himself.
In mobiles, the transaction is very straightforward… especially if you use an escrow company, they’ll do a lot of the work. Paperwork isn’t too much of a hassle. You can choose to not use an escrow, but you’ll have to deal with the annoyance of paperwork.
So, you wouldn’t need an agent, necessarily, for the paperwork if you use an escrow company… they can walk you through.
NOTE: not all escrow companies deal with mobile homes on leased lot. You’ll have to call around to find out. Usually agents know of them already.
A Quick and Personal Transaction
Sometimes, with mobile homes, you might end up just selling to someone you know personally (or another resident in the park); family members, friends, people in the park, etc.
In transactions like these, were someone well known would like buy it from you, and the price and the terms (cash of finance), there’s hardly a need for an agent.
All the agent is going to do is have all parties sign his/her purchase and sales agreements (which in CA, there’s no required contract, both parties can just go to the escrow company), and then coordinate the sale with escrow.
Of course, there needs to be a lot of trust among all parties in this type of transaction scenario. If things go South while in escrow, someone will waste their deposit.
Even when parties to a sale know each other, legal sale requirements must be followed. Adhere to all California codes for disclosures and timelines. The last thing you want as a seller representing himself is to find yourself in a legal battle down the road for a property you thought you no longer had connections to. Follow the rules to avoid legal ramifications and penalties, and you’ll be able to enjoy selling your Rialto, CA Mobile Home without agent like many others.