Home Sales Done Right
Help Buying or Selling a Mobile Home
The Biggest Financial Decision You'll Make
Integrity is Here To Make it Easy
You’re probably at the point where you’ve bought and sold a few homes, but that was real estate. Mobile homes are a great option for retirement living, whether it is your main home or a seasonal destination. Millions of people live in a mobile home and the market is worth billions.
A mobile home is fundamentally different from normal real estate in a few ways, which often confuses those new to the market. For a hassle-free and secure transaction, it’s always best to go with a mobile home brokerage.
Buying Your Home
The Basics
The mobile home industry is regulated in a different manner from the world of real estate. Many people, mainly sellers, try to work on their own because it’s technically legal. The problem with working alone is that it’s very easy to walk into a large purchase with little more than a handshake and trip to the DMV. Have you had the home inspected? What is the difference between usual age and severe underlying damage in a mobile home? Do you have a contract that protects you and your money? How will you even pay?
Buying a mobile home has nearly all the same risk and complexity of buying a regular home but it’s all on you. That’s where a broker comes in!
A mobile home broker is like a real estate agent for the world of mobile homes. For a commission, an agent will help handle the sale. They’ll provide contracts, give you connections to lenders if you need them, and most importantly they’ll give you a world of options to pick from. Buyer’s remorse and settling on a bad home are common when you buy on your own. With an agent, this is rarely the case because you’ll have the help you need to make the best decision.
Home Searching Out-of-State
A good mobile home brokerage also provides you with protections, inspections, and the knowledge to go from a novice to a pro no matter where you are. If you live out of state, you can work with an agent remotely and schedule walk-through appointments for when you make a trip. Unlike dealing with dozens of private sellers, an agent will have access to lock boxes so that there’s no last-minute cancellations. Your time matters and so does your safety.
Many people use a mobile home as a winter getaway from freezing temperatures. This strategy is actually statistically correlated with a longer life expectancy as the cold puts stress on the cardiovascular system – there’s always a spike in heart issues after the first snow. However, staying away from your property for so many months can put stress on your heart as well. With a good brokerage, you’ll be given resources to help manage the mobile home lifestyle as well. You can remotely manage services like lawn care and maintenance, and if you want a checkup on your home while you’re away we’re here to help.
Financing A Mobile Home
Nothing is free, and that’s especially the case with something as big as a home. Most normal mortgage lenders won’t finance a mobile home, leaving the unprepared to pay out of pocket.
Financing is an option with the right connections! As a leader in the mobile home industry, Integrity has built a working relationship with a number of established, respected lenders that have experience in this market.
Borrowing to buy a mobile home financially smart. Suddenly, that dream of moving to the land of sunshine becomes an attainable reality. Many people plan on selling their family home in another state to move to Florida, but with financing they can keep their home and live in the best weather seasonally. The social opportunities are doubled when you migrate seasonally.
It is always worthwhile to look into financing as it might be a major part of your retirement financial planning. Financing a part of your mobile home or the whole may let you keep certain investments that work for you. Often, it is best to keep retirement savings and investments in your account and let monthly payments and Social Security pay off the mortgage. Every case is different, but it is important to consider every option that’s available.
Thinking of Selling?
Your Options
Many mobile home owners try selling on their own. The phrase “for sale by owner” (often shortened to FSBO, pronounced fizbo) does not inspire confidence in a potential buyer. For all the reasons listed above, a buyer would desire to work through a brokerage.
A brokerage offers you security and ease in the selling process, as well as (most importantly) far more visibility. With an agent, you stand above the sea of listings and have someone working to actively bring buyers to your home.
In addition to this, important steps such as home inspections and legal/financial requirements are ensured to be followed. A brokerage will provide contracts and the legal framework that protects the buyer and you, the seller.
A brokerage charges a fee as a small percent of the final home sale value, but even with this fee it is common for a seller to make more money on a sale, as a brokerage can usually achieve a higher sale price. A mobile home sales agent will know the market and know how to strategically sell a home. Some buyers have an inflated sense of their home’s value, but many under-value their home or do not understand the impact of recent market trends on home value. An agent will perform market research and adjust the price to achieve the greatest return for each specific case.
How to Sell Your Home
The first step in selling your home is to have a plan in order. Where will you be living after you sell? Do you have the move sorted out? You don’t need to have a finalized plan, but it helps to have everything in order so that you can put the next step in motion.
Contacting an agent and having them look at the property and discuss listing details will be the next and most important step. Your home will need to be staged for listing photos and it helps to have some key information handy.
An agent will perform a walk-through and take down notes for the creation of a listing. When the home is ready, they will also take listing photos which will go up on the brokerage’s website.
You can start the process any time and you can talk over the details before committing to selling. We love to hear people’s thoughts and questions regarding sales, as it helps us better serve the community when it’s time to move.
Want to talk to an agent right now?
We’re open Monday to Friday, 9 A.M. to 5 P.M. excluding major holidays. However, you may get a response via the contact form sooner than expected because behind the scenes someone is almost always working. Integrity puts the most into selling your home, so contact us today!