Items you will need
- Listing contract
- Marketing materials
- Sales contract
While the marketing methods for selling a mobile home aren't much different from selling a traditional stick-built home, there are additional issues to consider. Real estate laws vary from state to state. This determines what legal documents you will need to sell the home. In states that treat mobile homes as real property, required documents include a sales contract and deed of conveyance. If a mobile home is considered personal property, a certificate of title is evidence of ownership. Financing requirements for mobile homes can also be an issue for potential buyers.
List your mobile home with a local sales agent. Choose an agent who either specializes in selling mobile homes or has experience selling mobile homes in your area, according to a recommendation from Realtor.com. Knowledge about state and local real estate law is essential, as in some states, mobile homes are titled similar to a motor vehicle but taxed as real property.
Talk to the park manager if your home is located in a mobile home community, suggests Foremost Insurance Company. Ask if the mobile home can remain on the leased lot if you sell it. Inquire whether there will be an increase in the lot rent when the new owner renews the lease. You should also find out if the park has specific rules about where you can place a “For Sale” sign.
Clarify the mobile home park's tenant requirements. You may need to screen prospective buyers, as they may need a certain credit score not only to qualify for financing, but also to be accepted into the mobile home community.
Set a sales price. If you've contracted with a sales agent, she will provide you with the prices that comparative mobile homes in the area have recently sold for. Additional key factors to consider include the home's manufacturer, the total number of square feet, the home's interior and exterior condition, and its age. The overall condition of other homes in the mobile home park also can affect the value of your home.
Advertise the home. If you go with a sales agent, he will market the home for you. If you sell the home yourself, you can use many of the same marketing techniques a real estate agent would use. Besides putting up a “For Sale” sign, place advertisements in the classified sections of newspapers. Advertise online using sites that specialize in selling and buying mobile homes. Plan an open house where you can pass out flyers listing the home's key features.
If the home is located on a private lot you own, you can sell the land and mobile home together.
Whether you've hired a listing agent or are selling it yourself, you need to be realistic in pricing the home.
Keep in mind that for homebuyers to qualify for a loan, a mobile home and the site where it is located need to comply with federal, state and local safety standards.
Make certain the home is insurable, especially if it's an older mobile home. Otherwise, you may have a hard time selling it. An uninsurable home usually doesn't qualify for a mortgage loan. Some insurance companies won't issue homeowners policies for older mobile homes unless wiring and plumbing are up to code.
Unless a mobile home is located on a private lot and sits on a permanent foundation, the home -- like a vehicle -- depreciates in value each year regardless of its condition. Another potential drawback is that lenders usually finance older mobile homes at higher interest rates, according to Realtor.com. This may bring you fewer buyers.
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