Understanding your options.
Are you selling a mobile home in Greenville, South Carolina? Make sure to read this post to help you understand your options when you want to sell your mobile home.
- For Sale By Owner (FSBO): Selling your home yourself allows you to save some money as you most likely won’t have to pay an agent’s commission. Occasionally you may be approached by a Realtor representing a buyer. This Realtor may have a buyer for your property, however this Realtor and broker will typically require a 2% to 4% buyer’s agent commission from the sale in order to help you. This help can be well worth the cost.If you sell a mobile home yourself then you will want to stay on top of your advertising and marketing. At minimum you should aim to have 5 or more people walking through your home for sale per week. If you are not receiving this numbers than you might need to adjust your asking price, selling terms, and advertising methods; more on this below.
- Realtor: Using a Realtor will give you access to buyers looking on the multiple listing service or MLS in your local area. Buyers using a Realtor are usually more seasoned and prepared to purchase a property than buyers without Realtors. (This is of course a very general statement and of course there are some serious mobile home buyers that are not working with Realtors in and around your area.) It may be a good idea to have a few realtors come out to get an average opinion of what your home could sell for in the next 90 days, and why.Tip: Be aware that some Realtors will be very good at telling you why you should give this Realtor your business. A Realtor may even over promise what he can deliver selling your property for. Ask how long his listings typically stay on the market and verify this with proof of his timely sales. Additionally, what advertising methods while this Realtor be using on a regular basis to resell your home. Aim to get the shortest listing as possible 60 days to 90 days is perfect; either the Realtor can sell it or not.
- Short-sale, Foreclosure, or Deed in Lieu of Foreclosure: A foreclosure or bankruptcy is a large red mark on your credit history for 7 or more years. If there is a way to avoid foreclosure or bankruptcy it is highly recommended. With that said this is absolutely an option. If your property has a lien, mortgage, or deed of trust then call your loan servicers “loan mitigation” department. You will need to be an authorized representative if the loan is not in your name, however assuming the loan is in your name then you will explain your financial situation and hardship. You will need to ask for a “short sale” package emailed or mailed to you immediately. In order for a short sale or deed in lieu of foreclosure to considered by the bank, the note must be nonperforming and past-due.
- Rent (Forced-Landlords): This is becoming a more and more common scenario; a mobile home owner cannot resell their mobile home so they decide to rent out a room or rent the entire home just to cover the monthly loan payment. This homeowner has become a force-landlord.Pros: While the home is being rented it is still in your ownership. If the market appreciates than the land value may appreciate as well. You may also run to the home until the market picks back up or until summer when there are more buyers in the market looking for a good deal.
Cons: You become a landlord. You are responsible for repairing the home and maintaining this property for your renters. Renter’s rights and “rentable” home conditions vary from state to state and county to county – so know your local laws and regulations.
- Investors: Investors help purchase unwanted mobile homes around the country. Depending on a variable of factors multiple purchase offers can be made for your property.
If you need to sell a mobile home near Greenville, we can help you. We buy Greenville SC mobile homes.
We buy properties like yours from people who need to sell fast.
Give us a call anytime 864-272-5400 or fill out the form here today!