If you’ve inherited a mobile home or manufactured home and you’re planning to sell it, make sure you read this blog post for 3 tips about how to price your inherited home in San Antonio for sale…
Did you inherit a mobile home that you’re now thinking about selling? While an inherited mobile home can be a wonderful gift from a loved one who has passed on, it can also honestly be a costly burden to some. So selling it could make sense depending on your specific situation and would allow you to use the gifted equity for some other purpose. But selling an inherited property may not come easy to you, especially if you haven’t sold a mobile home in a while or possibly ever. So here’s how to price your inherited home in San Antonio for sale…
Tip #1: Price Quick To Sell
Some people price their inherited mobile home at an amount they think the market might pay for the property. However, there are many factors that go into this price and one of the biggest considerations is: how fast do you want to sell? Selling through an agent “on the market” can take months, and you’ll have to pay for the mobile home maintenance and expense the entire time. That can really add up quick and can eat into the final sale price.
Many property owners quickly learn that they’re almost better off to price slightly lower for a faster sale… they might get less for the mobile home but they also pay less on repairs, carrying costs, effort, and time, so it’s ultimately a trade-off that might turn out to be a total wash. This is something we take into consideration on every mobile home we sell, especially if the home is located in a mobile home park where just lot rent alone is over $600 a month. Add in utilities and you’re pushing $750. This can also be true for homes on private land if they have a mortgage or pay lot rent each month.
Tip #2: Avoid Pricing Based On Fond Memories Or Emotion
One of the biggest challenges that property owners of inherited mobile homes or any property face when trying to price their property for sale is separating the happy memories from the true value of the house. The mobile home might be worth a certain amount on the market but you may have such fond memories of growing up in the mobile home or of happy times in the mobile home that you accidentally use that emotion to increase the price. (This is VERY common.) It’s important to take emotion out of it, let facts and logic lead the decision making.
A better approach would be to work with a licensed mobile home professional like Journey Mobile Homes and find out what they can offer you, and recognize that the price might be lower than you were expecting… not because the mobile home isn’t worth as much but because your wonderful memories have accidentally inflated the price! We work all over Central Texas and are in tune with the current market because we are always buying and selling mobile homes in the area.
Tip #3: Build In Discounts For Repairs
If you inherited the mobile home from a loved one who had lived in the property for many years then you might find out that the property needs some repairs. This is often the case especially with mobile homes 5-20 years old. You could choose to do this work yourself or hire a contractor and then ask for a higher price but why do that when you could save yourself the time and effort (and what you’d have to pay for equipment, supplies, or a contractor) and instead just ask for less and give a “repair discount”. That way you avoid the hassle of the work, and you still come out the same financially. This is the quickest way from point A to point B.
Summary
An inherited mobile home can be a lot of work, hassle, and stress so if you’re thinking of selling it, you’re certainly not alone. But how do you price an inherited mobile home? These tips will guide you on how to price your inherited mobile home in San Antonio for sale.
Why not bypass all the work and cost of selling through an agent and instead get in touch with us today about selling your inherited mobile home to us here at Journey Mobile Homes? Just call us at 210-504-8388 or click here and enter your information in the form.
