How to Sell a Mobile Home Dallas- A Guide on Financing, Price, and More!by Emily Ela SEO Analyst
Wondering how to sell a mobile home?
For starters, you should know that these days, they're called manufactured
homes (but we'll use both terms interchangeably since many people
are more familiar with the original moniker). And while you might assume
selling this type of home is just like selling a traditional home, it
isn't—and you'll need to adjust your approach accordingly. Here's how to sell a mobile home in DALLAS, and how
it differs from your usual real estate deal.
How to finance a mobile home
financing options for Mobile house buyers of lot lease manufactured homes
are also different from those for traditional real estate. Here are bellow four
kinds of buyer financing you'll want to consider.
- FHA loan: It's possible to get a
traditional mortgage on a lot lease manufactured home, but there are a
limited number of lenders who will do it. The FHA will insure these loans,
but it has very strict requirements for which properties it will
finance. It will also require that the home pass a proper inspection,
and that the mobile house buyer sign at least a three-year lease with
- Chattel loan: A
chattel loan is like an auto loan, but specifically for property such
as manufactured homes. There are lenders that specialize in this kind
of financing—they don't have nearly as many requirements as an FHA loan,
but they do generally require an inspection. Their rates will not be as
competitive as a traditional lender's, however.
- Owner financing: If your
buyer has the cash for a down payment but not the credit score (or
willingness) to take out a loan, you can finance the purchase. The way it
works is the buyer gives you a down payment, and you agree on repayment
terms for the rest of the loan. The title is transferred with the down
payment, but you put a lien on the property until it's paid off. You'll
need a lawyer to help you put this kind of agreement together, and you'll
want to research your buyer thoroughly to ensure he or she is a good
- Cash: A cash mobile house buyer
is, obviously, the easiest—and entirely possible given the price
of mobile homes Dallas. If your home is not in fantastic condition or
you owe a lot on the home, a cash home buyer might be your best option.
The one downside is cash buyers usually have their pick of homes, so you
might have to go down on the price to get the deal done.
How to price- when selling mobile house
mobile home Dallas is about finding the right price, one
that will help you find a buyer quickly—and avoid languishing on the market for
weeks or months—and one that (hopefully) makes you a profit. With a mobile
house, you'll need to consider some separate factors: the value of the
land (if you own it), and the value of the mobile home which you want to sell.
Typically, the value of the land will go up over time, while the value of the
mobile home goes down.
“Mobile homes depreciate like cars;
however land appreciates,” says team of America Buys Houses. This Appraisal
Guide is a great resource for determining the value of a manufactured
home. You can also pay to have it professionally appraised. It might cost
a few hundred dollars, but the appraiser can help determine the value of the
home as it's currently situated.
How to list a mobile home
If you're using a real estate agent in
Dallas, you should find one who specializes in selling manufactured
homes, because it's a different certification than a traditional agent.
This professional will list your property on the multiple listing service,
which feeds into nationwide sites which will spread the word to buyers far and
However, if you decide to sell the home
yourself without an agent, you'll need to do a lot of legwork—starting with
advertising to make sure people know your home's for sale. Talk to your
park owner, who might have ideas, and wherever you list, explain what
kinds of financing you are able to accept, as well as the price, location,
square footage, age and make of the home, and any other pertinent information.
How to close on a mobile home
Once you find qualified people who
buy houses Dallas, go through the inspection process, and get the funding in
place, it will be time to close. If you're selling used mobile home Dallas and
land below it, your closing process will be similar to a traditional home's
process; if you're selling only the home, it will be more like selling a
car (and you might need to visit the DMV with your buyer to get the job
In either case, you will transfer the
title to the new owner when the money has changed hands. If you are doing owner
financing, make sure your name is added as a lien holder when the title is
transferred, and remove the lien only after the loan is fully paid off.
Created on Dec 4th 2020 07:21. Viewed 257 times.