Selling a mobile can bring its own set of challenges just like selling a residential home, but with an added caveat. First and foremost, selling a mobile home is tough because most are located on rented land. A property owner likely owns the land a mobile park is sitting on.
If you wish to sell your mobile home and invest in a new property, travel the world, or open a business, here’s how to go about it.
Understand the Mobile Home Market
First, it’s important that you understand the current used mobile home market. The reality is, you won’t have a line out your door for a used mobile home – no matter where you’re located. If you take some time to spruce up the mobile home and reduce the price, then sure, you’ll find a seller.
However, a cash buyer will be in the minority. It’s far more likely that you’ll find a buyer who will put a down payment and then pay monthly payments. You’re essentially going to the rent-to-own route but on the other end of the process.
Understand Your Options
When selling a mobile home, you’ll fall into one of two categories: you need to sell in under 90 days or you have between 90 days and 6 months to sell. You can consider yourself lucky to be in the latter.
If you have less than 90 days, it’s likely you’re being evicted or leaving the area quickly for work, family, etc. If you have time, then you can market your property on the MLS.
Sell to an Investor
Like with a residential property, selling a mobile home to a real estate investor is an option. In fact, it’s the fastest option available to you. With one quick phone call, you can arrange a meeting with an investor who will, within 24 hours, offer you cash for your mobile home.