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Feb 11 2019

How To Determine The Value Of My Mobile Home

One of the first steps when selling your mobile home is to learn what it’s worth. You can estimate your home’s value on your own, do an online appraisal, or have an in-person appraisal done. Whatever method you choose, there are four major factors to consider when calculating your home’s value: mobile home condition, type, location, and depreciation.

1) Mobile Home Condition
Just like with anything you try to sell, the better the condition it’s in, the more money it’s worth.  Walls with chipping paint, dinged-up doors, and stained carpet can all affect your home’s worth.  Even making simple repairs and giving the walls fresh paint can increase the value. And just like with single-family homes and other real estate, the condition of your neighborhood and your neighbors’ homes also affect your mobile home’s worth.

2) Mobile Home Type
There are three types of mobile homes: single-wide, double-wide, and multi-wide. These types increase in cost as they increase in size, meaning a single-wide costs the least and a doublewide costs the most.

3) Mobile Home Location
The biggest factor concerning value is the land beneath your mobile home. Do you own it? Your home will likely be worth much more if you do. Is that land in a popular area? Is it right on the water? Factors like this can increase your home’s value. If you don’t own the land, consider your surroundings. Are you in a desirable area? If you live in a mobile home park, what is the condition of the park? Are there amenities that may increase your home’s value?

4) Mobile Home Depreciation
Unfortunately, just like with vehicles, mobile homes depreciate in value over time. Typically your home will depreciate around 3% to 3.5% each year. But keep in mind if you’ve made significant upgrades to your mobile home—it may offset the rate of depreciation or at least lessen the percentage of decreased value.

It’s also important to note the year your home was built. Homes made prior to 1976 may not meet the safety and quality standards that the current Housing and Urban Development (HUD) code requires. The code was established in 1976 and revisions were made in 1997 as well as
1999. Homes built between 1976 and 1999 may not meet current standards, and this will affect the value of your home. Read more about the HUD code here.

Appraisal
Although you can estimate your home’s value, you can also pay to get an online appraisal or have a professional appraisal done in person. The latter is more expensive but may be more thorough. Investigate your options and choose the one that’s right for you.

Online Appraisal—NADA
The National Automobile Dealers Association (NADA) is the largest publisher of vehicle pricing, including recreational vehicles and manufactured homes. Here you can to get an online appraisal for the book value of your home ranging from $26 to $50, depending on the type of appraisal you choose.

Professional Appraisal
Contact a local real estate agent with experience in manufactured homes to get a professional appraisal. Look for someone with a state appraiser license or a manufactured home appraisal certification if possible.

Selling Your Home to EZ Mobile Home Buyer

EZ Mobile Home Buyer will visit your home and do a personal walkthrough. Based on the age, size, and condition of your home, EZ Mobile Home Buyer will make you an offer.

Now that you know how much your mobile home is worth, check out one of our local Texas offices’.  We buy mobile homes in Austin, Dallas, Houston, and San Antonio on a monthly basis so that you can sell your home in a timely manner.

Written by EZ Buyer · Categorized: Education, Real Estate

Dec 28 2018

How To Sell A Mobile Home Fast

The first step in selling your mobile home fast is to determine whether your home is considered real estate or personal property. A mobile home that sits on land you do not own is considered personal property, whereas a mobile home that is properly secured on land you do own is considered real estate.

The differences are key to note as they determine how your home can be sold. A mobile home that is considered personal property is similar to selling a vehicle, while a mobile home that is considered real estate is similar to selling other single-family homes.

Selling Your Mobile Home as Personal Property

Those who own a mobile home but not the land are likely living in a mobile home park. When selling your home, the park owner will need to be involved as they have a major say in who you can sell your home too. In addition, the owner has the right to the first refusal, meaning they have the right to buy your home by matching the price a prospective buyer has offered. If they don’t exercise this right, you’ll need to ensure that your buyer is capable of meeting the rules and regulations of the mobile home park.

Selling Your Mobile Home as Real Estate

When the sale of your mobile home comes with land, you don’t have the added burden of ensuring the next owner meets the rules and regulations of a mobile home park. However, the process is more difficult than selling your home when it falls under personal property.

Price Your Mobile Home Correctly

It’s important to price your mobile home at an accurate value. Overvalued or undervalued homes are passed over by prospective buyers. Value is based on whether or not you own the land your mobile home is on, and the condition, type, and age of your mobile home. Read this
blog post to find out how much your mobile home is worth. (Link this sentence to the how much is my mobile home worth blog post I’ll write.)

Selling Your Mobile Home On Your Own

It’s possible to sell your mobile home on your own, but be prepared to take on all the work a realtor would normally be assigned. When it comes to paperwork and advertising your mobile home, that will be up to you. Depending on the market, your ability to advertise to the right
people at the right time, and other factors, the timeline for selling your mobile home could stretch further than you’d like.

Tip: If you rent in a mobile home park, speak with your park owner. They may have some ideas on how to advertise your home for sale.

Using a Realtor to Sell Your Mobile Home

A realtor has experience selling and buying homes and can guide you through the process.  Selling anything can be a stressful and confusing process—especially when it happens to be the most expensive thing you own.

In addition to their experience, realtors have access to the multiple listing service (MLS) that non-realtors do not. Your realtor will list your mobile home on this website and buyers working with realtors will be able to see your listing on the MLS. Your realtor should advertise your
mobile home in other ways as well and use their contacts to find potential buyers.

Just like when selling your home on your own, there is no guarantee your home will sell in a certain amount of time. It could sell quickly or it could take many, many months.

Note: Realtors can only help you sell your mobile home if it on land you own. (I’m not 100% sure this is true. I couldn’t seem to find a definitive answer. If not correct I’d just remove this note altogether.)

Tip: When looking for a realtor, find someone with experience selling mobile homes. There are differences between the sale of mobile homes and frame homes, and a realtor experienced in mobile home sales will know these differences.

Sell Your Home to a Licensed Mobile Home Retailer

This is, by far, the fastest guaranteed way to sell your mobile home. Instead of relying on the market trying to find an individual buyer, look into selling your home to a mobile home retailer.

EZ Mobile Home Buyer will purchase your home in its current condition wherever you’re located. You’ll receive an all-cash offer with no financing contingency and EZ Mobile Home Buyer will close the sale within two to three days.

Worried about all the paperwork involved with selling a mobile home? Don’t be. EZ Mobile Home Buyer will handle all the paperwork on your behalf. And if you’re living in a mobile home park, EZ Mobile Home Buyer will communicate with your park owner to streamline the process and make things simpler for you.

If you want to sell your mobile home quickly and without headache, a mobile home retailer may be your best option.

Don’t worry, you have options.  We buy mobile homes in Austin, Dallas, Houston, and San Antonio on a monthly basis so that you can sell your home in a timely manner.

Written by EZ Buyer · Categorized: Real Estate

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  • How To Determine The Value Of My Mobile Home
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