Just as important as knowing how to buy a mobile home correctly, is knowing how to sell one. There is indeed an art to maximizing value and minimizing time spent on the market. A little time and cost on the front end will yield big dividends in terms of the money you will realize upon sale.
Any good buyer will be able to spot significant repair issues. So instead of trying to hide them and losing sale after sale, it’s easier and more efficient just to fix them now and get it over with. If the plumbing leaks, fix it. If the hot water heater is broken, replace it. When a buyer finds that you have been try9ing to hide the defect they will lose trust in the deal and move on to the next.
Make sure that the exterior is free of any rotted panels, and that everything is fastened down and straight. A fresh coat of paint will work wonders, but so will washing the exterior down with bleach. Remember that first impression is extremely important, and if the home looks bad on the outside – even if the inside is fantastic – it will be a complete turn-off for the customer.
For starters, the interior needs to be clean and smell good. This is an easy starting spot. If the interior smells of mildew or pet odors, it is unlikely that a buyer is going to come forward. You can do wonders with a plug-in air-freshener, a vacuum cleaner, some Windex and Formula 409, and some elbow grease. You will also gain immensely from painting interior walls and, if necessary, replacing carpet or vinyl. Use the “golden rule” here: would you buy the home if you were the buyer?
Small details cost very little, but have a huge impact. Make sure that the exterior windows have shutters. These cost only around $20 a set. Make sure the door opens and closes easily, That the lock works. That the cabinet drawers open. That the toilet flushes. These are small things that can ruin a sale, or cause a price reduction far in excess of the cost to fix them.
Selling a home effectively requires advance preparation. Follow these tips and you should have no problem selling your mobile home at a good price.
Frank Rolfe is a mobile home park investor and owns over 100 parks with his partner Dave Reynolds. Frank also leads regular Mobile Home Park Investing Bootcamps through www.MobileHomeUniversity.com.