Selling my manufactured home.

The Art & Science of marketing Manufactured Homes. Retailers, sales people community operators and managers share experiences.
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rsholder
Posts: 4
Joined: Wed Nov 11, 2009 12:43 pm

Selling my manufactured home.

Post by rsholder » Mon Mar 21, 2011 8:28 am

We have finally decided to sell our manufactured home. We are trying to decide what would be a good asking price as we want the home moved from our property. It is a 2002 powerhouse caviler and it is a 4 bedroom 2 bath with a den and a formal living room and a retreat off the bedroom. It is in very good condition and its a very pretty home. It has a brand new roof, and we have a huge deck that we would be willing to take apart and sell with it as well as the dormer on our front porch. We are able to build and that has always been a dream for us so that is the only reason we plan on selling. I have called local dealerships and they are no help. we owe 39,700 on the home and would be happy just to get the pay off amount but since we want it moved we were unsure as what to start out asking for so that we can get the most money but still be reasonalble enought for someone to move it.

A few years ago we had the strips on the walls removed and taped and mudded and we painted the house will that be a problem for the new owners when its moved as it didnt come from the factory that way? I guess i am asking if the walls are gonna start falling down. And who would be responsible to fix them when they set the house back up.

Also how realistic is it going to be for us to sell this home. i know it happens all the time but will banks even finace it for a buyer when they have to move it? I know this may take a while and we are prepared for that.

Thank you so much,
hollie

David Oxhandler
Posts: 1459
Joined: Tue Oct 02, 2007 8:37 am

Re: Selling my manufactured home.

Post by David Oxhandler » Mon Mar 21, 2011 8:59 am

The possibility of an easy sale depends on what is happening in the market where you live. At this time, in most places across the country, the supply of available homes is greater than the demand and sales are very slow.

$39,700 seems very reasonable for a late model double wide, but the expense and hassles of relocation the home could make a sale difficult. Why must the home be moved? Can the home be sold to live in where it is?
David Oxhandler
[email protected]

rsholder
Posts: 4
Joined: Wed Nov 11, 2009 12:43 pm

Re: Selling my manufactured home.

Post by rsholder » Mon Mar 21, 2011 11:12 pm

its family owned land and we want to build in the spot it sits. I know our situation is a little diffrent than most but its what we want. do you think its unreasonable to ask 42,000 in hopes that we get the 39,000 for pay off? i know they would have to pay to have it moved and re-set but do you think for the size of the home it would still be cheaper for some people to buy it used than a brand new one of the same size? We are in no hurry so if it takes a couple of years its fine with us so long as eventually we build. Thanks.

David Oxhandler
Posts: 1459
Joined: Tue Oct 02, 2007 8:37 am

Re: Selling my manufactured home.

Post by David Oxhandler » Tue Mar 22, 2011 8:09 am

Time will be your best ally on this project.

Most folks that are trying to sell at this time are in a bind. Many are "underwater" - living in homes they paid too much for and can not afford. Others are finding it difficult during this period of high unemployment to maintain what was previously affordable. In both of cases these sellers do not have the luxury of time.

History has shown, over and over, that time will change the current dismal housing market. If you are not under a time pressure you will have greater opportunities to accomplish your sales goal.

A few pointers:

Get a Book Value Report to help determine the typical local market resale price for you year make and model home. Different manufactured houses will be worth different amounts in certain areas.

A book value gives the standard value of the base model home, then adds the value of extras found in each home. Value options are broken into three sections Components, Accessories and Additive Values. The book value also considers State Location, Home Life Span, Condition, Quality and items in need of repair. The book value also adds for additional items such as garages, septic tanks, decks, water wells, etc. It does not consider the value of the land or supply and demand for the home.

If the home must or will be moved, the Wholesale Value is also given which adjusts the value, deducting for tear down, transport, lot set-up, redelivery, re-set-up and retailer profit, where a home is purchased by a dealer

Most home shoppers have no clue about the manufactured home installation process. In recent years this has become more and more involved, complicated and challenging. Find a reputable, licensed installer and get a price to transport and install the home for up to 50 miles. Then include the relocation in your price.

Traditionally dealers handle installation details. Most of you prospects will be uncomfortable purchasing your home where it sits. The learning curve and hassles associated with relocating a MH will stop many of your best prospects from becoming your buyer.

Talk to a local real estate agent to get a solid idea of whats going on in your market area. A good agent understands improvements or features that push local sales and is best equipped give you a better idea of the overall condition of the local market for your particular home and help greatly with a realistic price point.

Financing is key in almost any home sale. Talk to your banker or find a local mortgage broker that handles MH financing. Have the details of the loan process and the contact info for that local lending professional at your finger tips when your showing the home. For a significant majority of prospects the cost of the down and monthly payments will be as important if not more important that the price your asking.

It's not luck that makes that makes a home sale happen. Careful planning and learning how to show off your home to its best advantage will be well worth your time. Read How To Prepare Your House For Sale for tactics used by the pros.

Happy Selling and best of luck !!
David Oxhandler
[email protected]

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