Used Mobile Home Won't Sell!!

[Eric]

Part of the problem with listing a manufactured home with a realtor is that they are trained and focus mainly on site built homes, not parks and personal property mobile homes. Most people using a realtor focus on finding a site built home, rather than a mobile home. In addition, there is a built in bias towards site built homes by realtors, because the commission they make from selling and/or buying a site built home is usually much larger than from a mobile home in a park.

This leads to few responses to a listing with a realtor in the real world. A better idea might be to list a home with a manufactured home dealer who gets lots of traffic from people looking for used as well as new mobile/manufactured homes.

I can illustrate with an example that I know of personally. A home was listed with a realtor locally. It was on the market for six months, with not one person other than one I personally represented looking at it or making an offer to buy. The realtor listing it at first refused to even accept the offer I made to him, as he though this was illegal. Again, ignorance of the law was illustrated in this example.

The person who listed the home in MLS with the realtor lowered the price by almost 50%, but never got one showing or offer other than mine, which did not work out. After this, she dropped the realtor and listed this same home through our manufactured home dealership. The home was also listed in MLS, through a realtor who worked in our office, although he was not the listing agent.

Within three weeks, she had multiple people looking at and calling about the home, and it sold for full price. Escrow is now closing on this home, based on a buyer who came through our office, with a different manufactured home salesperson. Both the seller and the buyer are happy with the home and price they are getting or receiving.

[Jim Taube]

Since you realize your losing money everyday, how much you owe on the home? wHERE IS IT LOCATED? How much is the lot rental? How big is it? give me as much info on it . Don't get your hopes up, I am just speculating right now if the price is right I may get back with you!

[tim york]

As Jim asked, give specifics....location, type, lot rents, size, what type community located....price........

[chris]

yes, how much? where? what does it have? what has been updated? how big? how many bed/bath rooms?

[cindy]

I am having the same problem as brad. I have been trying to sell my 1997 manufactured home for over 4 years. I have had several reality companys and a couple of manufactured home companys trying to sell it. NOTHING.
It's not the fact that I want to give back a home I agreed to purchase, but it is the park that keeps raising our lot rent $10 every year for the past 7 years we have lived here. It's not the home I can't afford, It's the PARK!!! I have also tried to move it to land....no luck there either. So what is my option? Like Brad's family just give it up or file bankruptcy. I know at lot of people who have done this and it only takes a couple of years before you can borrow money with credit. Not 7 or 10 not in today's world.

[rmurray]

A bk will stay on your credit file for 10 years after the discharge...

It is true there are high rate lenders who will take advantage of your plight by lending money to those with recent bankruptcies...but this means your next car will cost you far more than an extra $70/mo..the total increase in your park rent...

Plus..every credit card you have or get will be very expensive..even your homeowners insurance..car insurance..health insurance will cost more..BK should be your last resort...I would suggest you contiunue tying to sell..make the house VERY appealing...Make it so nice any potential buyer would want it..

You have to know that the cost of living goes up every month (year)..taxes increase..cost of maintenence goes up...all the costs of running a park increase...Even home owners who own their land will find higher costs every year..Higher taxes..higher cost of maintaining the land and improvements..increases in utilities..the list goes on and on..

[Brad Taylor]

Thanks to everyone for their input. I will get the details on the home and post it here this weekend. The story just keeps going. Our first listing was with a realtor which we gave up on in May. We then switched to the Park itself. Our thought there was that they would have a greater number of prospects and a vested interest in seeing it sold. Turns out the park manager was not very interested in our situation. We found this out after a renewal meeting on the listing. She had it for six months and we could tell that she had not been pushing it. We have now relisted with a new realestate agent with an established firm. They had a buyer in three days but wait. The mobilehome pack turned them down as this particular park has very restrictive credit criteria.

We don't plan on defaulting on the loan. We have been able to obtain a note on the home that paid off the old loan and is only due when the home is sold. No monthly payments only interest accures. That has helped their cash flow. The park is raising lot rent to $15 in January to $325. They also have a rule that no For Sale signs are allowed over 12 months. I tried to get a waiver but again the park manager was not cooperative.

Again I thank all of you for your input and I will get the details on the home listed here this weekend.

Thanks, Brad

[Thang Tran]

I am intrested in the mobile home. Could it be moved to California?If so what is the asking price?
How much square feet does it have?how many bed room and bath room?How old is the mobile home?what features does it have? where is it located? could you send a pix

[Thang Tran]

I am intrested in the mobile home. Could it be moved to California?If so what is the asking price?
How much square feet does it have?how many bed room and bath room?How old is the mobile home?what features does it have? where is it located? could you send a pix

[Brad Taylor]

Sorry it took so long to get this information out but have been very busy.

1984 Holly Park
Started at $18,000 but down to rock bottom of $16,000
14 x 70 home with built in extension and new skirting.
Extension was an original slide out from manufact. and adds on to living and dining room. It is a single wide home but the extention would have to be removed or disassembled to slide back in. Not sure how much that would involve.
2 Bedrooms, 2 Baths Built in hutch
Stove, Refrig, Microwave, dishwasher, Washer and dryer all included.
All window treatments stay
New Kitchen and entry way tile
Shed
Patio Cover , No garage
Located in Greenview Estates in Belvidere, Illinois
Belvidere is in Northern Illinois located between Rockford and Chicago.
If you need more info just let me know.

Thanks
Brad