How to Sell Your Mobile Home for Cash in Arizona
If you want to learn more about how to sell a mobile home in Arizona, this is the right article for you.
The primary concern for many mobile homeowners is how challenging it is to sell their mobile homes.
If you own the land your trailer is parked on, then selling it will be as easy as if you were selling a regular house. However, not owning the land makes things more complicated–though by no means impossible. Let us explain why that is in this blog.
How to Sell a Mobile Home Fast
Selling a mobile home to an investor is typically the fastest way to sell. In this case, many of the traditional selling steps can be condensed into a few simple ones.
So if you’re looking to sell your mobile home fast, one option is to work with an investor. Because investors buy properties in bulk and have more resources available, they can usually turn around and resell or rent your mobile home much faster than you could on your own. For more information on how to sell a mobile home quickly, scroll down to the bottom of this article.
Selling When You Own the Land Your Mobile Home Sits On
The selling process for a mobile home that is owned by the seller and sits on land typically looks like the process of selling any other house. The owner may choose to sell it themselves, handling all of the associated work such as advertising, showings, negotiations, contracting, and coordinating with the title company. Or, they may seek out assistance from a realtor.
Selling When You Do Not Own the Land Underneath Your Manufactured Home
The selling process for people who don’t own the land their mobile home is on looks different than those who do because trailers are considered “chattel,” or personal property. Chattel doesn’t qualify as real estate. This impacts how you sell your home, and many people with trailers live in mobile parks where they lease their lot from the park owner.
If you don’t own the land your mobile home is located on, it’s classified as a “lot-lease” situation. This means that if you want to sell your mobile home, the mobile home park owner must be involved in the process since they have rules and regulations that potential new homeowners must follow – similar to what you’ve been doing. The park owner requires buyers provide documentation certifying their compliance as well as having the right of approval for anyone who wants to purchase your unit. In other words: Selling in this instance isn’t straight forward like usual.
Before you put a lot of time and effort into marketing your mobile home for sale, check if the park owner has something called the “first right of refusal” or the “right to first refusal.” What this means is that if another buyer offers to purchase your trailer house, the park owner can choose to buy it instead in order to maintain control over who lives in their park.
Buyer Financing Options to Consider
A mobile home that sits on leased land is more complicated to get a mortgage for than a mobile home that rests on its own property. Some lenders will finance a lot-lease mobile home, but not all do so.
FHA loans are only possible for properties that meet a number of specific requirements. In the past, FHA loan recipients have had to get their homes inspected and sign a multi-year lease with the mobile home park.
Chattel loans are yet another financing option that come from special lenders – though they often require inspections and have higher interest rates.
If you can loan the buyers the money yourself, this will give you more potential customers that may not want to go through a bank or those with poor credit won’t stop them from coming to you. You would take their downpayment and then come up with a plan for how they’ll repay the rest of what is owed. It is essential that you find a lawyer to protect you in this situation.
The best case scenario is finding a cash buyer for your mobile home.
Since mobile homes often sell for less than regular houses, cash buyers are a realistic option. If your home is in bad shape, banks may not finance the buyer’s purchase, so unless you offer owner financing, a cash sale would be the only possible choice.
How to Sell a Mobile Home Quickly
As we stated earlier, the most straightforward way to sell a mobile home is by letting an investor buy it. You won’t have to deal with any of the difficulty associated with selling through traditional means, and the whole process is typically quick and easy.
We are a real estate investor who buys mobile homes. We’re interested in any and all types of mobile homes, in any condition – even if it’s just for the land that it’s on.
Selling your mobile home to us is a fast and easy way to get cash in hand quickly without having to go through the stringent process of selling through other channels. Plus, we can buy your home as-is – so you don’t have to make any repairs or improvements. Simply give us a call or fill out our online form, and we’ll take it from there!
How does the process work? There are three easy steps:
- You call us and tell us more about your mobile house.
- We visit your mobile home to assess its value.
- We make you a cash offer for your mobile house and schedule a close in as few as 4-7 days.
The only inspections we need are a superficial examination of the property to give us an idea of its worth. No other investigations are required.
Don’t worry about the park owner, we’ll take care of all the paperwork for you.
Our methods are legal. We have a title company that manages the paperwork and closing.
Wrapping It Up
While it may not be the most common form of sale, people do sell mobile homes all the time – and that includes you. The process becomes more complicated if you don’t own the land under your home, but it can still definitely happen. For a quicker sale of your mobile house, try selling to an investor like us here at We Buy Mobile Homes Arizona.
Click on sell my mobile home now to learn more about how we buy mobile houses fast. We buy mobile houses in the following cities:
|Glendale||Sun City||El Mirage|
|Paradise Valley||Goodyear||Sun City West|