Single-wide mobile homes make good starter homes for some people, good hunting camps for others, and good investments for landlords and mobile-home park owners, but if you don't know how to sell one, doing so is a frustrating venture. It's not like selling a house with land, and many real estate agents won't or can't help you. You need to be resourceful and try marketing to more than one group of prospective buyers.
Get the VIN (vehicle identification number) and the title, which the state will have on file if you've lost your copy. The VIN is often posted inside a kitchen cupboard, or you may find it in your purchase documents or on your copy of the title. You cannot get or assign the title to someone else without the VIN.
Call a real estate brokerage, if the single-wide will be sold with deeded land. Mobile homes without land are personal property, just as an RV or car is, and real estate agents cannot represent them as real estate. A real estate agent can market the property for you, mainly by placing it in the multiple listing service, but of course you will have to pay the agent a commission.
Sell it on your own whether it has land or not, if you do not want to or cannot work with a real estate agent.
Research how a prospective buyer will pay for the single-wide. This will help facilitate the sale. Many buyers will not know how to get financing, which they will need unless they intend to pay in cash. Peer-to-peer lending groups, such as Prosper and LendingClub, give personal loans for many reasons, and trailer-park owners and mobile-home sales offices often know who will finance single-wides. It's risky, but you, too, could hold a note, with a hefty down payment and a credit check.
Market the single-wide to three different groups: People who might buy it to live in or use as a camp, mobile-home park owners and investor landlords. Reach home buyers through the classifieds and Craigslist; reach mobile-home park owners by calling them or mailing them a flyer; and reach investor landlords through classifieds, Craigslist or visiting a local real estate investment club and handing out flyers.
Tell any prospective buyer to call the county or town zoning office and make sure that the single-wide can be placed in the buyer's desired location. Many towns and counties have zoning restrictions regarding mobile homes and you do not want the deal to fall apart at the last minute because the buyer discovers he can't put the single wide on his lot. This is not only disappointing but will result in lost market time for you.
Follow your state's requirements to transfer the title to the new owner. If you are transferring the mobile home without land, the requirements will be available on your state's official website in the Department of Motor Vehicles. If you are transferring title with land, hire a real estate closing agent or attorney.
It's a good idea to know the names of some companies whom the buyer could hire to haul the single wide to a new site.
Don't make assumptions about mobile-home financing based on Internet articles. Many of the articles are outdated and no longer valid.
- It's a good idea to know the names of some companies whom the buyer could hire to haul the single wide to a new site.
- Don't make assumptions about mobile-home financing based on Internet articles. Many of the articles are outdated and no longer valid.
Cat Reynolds has written professionally since 1990. She has worked in academe (teaching and administration), real estate and has owned a private tutoring business. She is also a poet and recipient of the Discover/The Nation Award. Her work can be found in literary publications and on various blogs. Reynolds holds a Master of Arts in writing and literature from Purdue University.