It’s beneficial to understand the differences between a mobile home and a single-family home when you’re selling. While you may need to approach the process differently, it is no more complex in terms of the work involved than selling a single-family home.
With this knowledge in hand, you can set out to successfully list, market, and sell your mobile home for the best possible price. So read on as we explore four ways that selling a mobile home in Memphis is different from selling a single-family property.
One of the ways that selling a mobile home in Memphis is different from selling a single-family property is the classification of the type of ownership. Mobile homes are either real property or personal property. For example, mobile home affordability can allow landowners to live on a piece of property much sooner than they would if buying a conventional home. In this scenario, the mobile home attached to the land is considered real property. For others, while they own the house, it is classified as personal property because they pay rent, as the community owns the land or lot upon which it sits.
Another way that selling a mobile home in Memphis is different from selling a single-family property is in the valuation process. While home values are relatively easy to compare for single-family properties, the factors that influence a mobile home can vary significantly from one unit to another. For example, the same model may be worth much more if it is in a desirable location, such as water frontage or water views. The land upon which the mobile home sits can significantly influence the value, such as with planned communities that offer resort-like amenities.
Selling a mobile home in Memphis is different from selling a single-family property in that if you own the land, the mobile home is considered real estate. However, the mobile home is classified as personal property if you rent the lot.
Another way selling a mobile home in Memphis is different from selling a single-family property in the questions buyers are likely to ask. Providing the company’s name that built the model is excellent information, especially for those highly regarded in the industry. Do you have a recent inspection showing that the foundation underfoot is solid? Documentation of any improvements that add value is also good to have on hand. Naturally, you’ll need to have the rules, regulations, and fees associated with the park available because these will factor into the decision to live in the community and the costs of owning the property for the buyers, and they will want to know.
The pros at Memphis Home Buyers know all of the ways that selling a mobile home in Memphis is different from selling a single-family property and are happy to help you understand the differences and what they can mean to you as the seller. Let us help you compare how much you’d earn listing vs. selling directly to Memphis Home Buyers, so you can make an educated decision about what works best for your circumstances.
Why spend money before you sell? If you’re ready to skip the repairs, listing, and showings and go right to the closing table, let the direct buyers at Memphis Home Buyers show you how easy it can be for you to sell your mobile home for cash as-is.
Why list and wait, and wait and wait? You could be sitting at the closing table within a matter of days. Now, if that’s moving a little fast for you, then you can set the closing date! Contact Memphis Home Buyers today at (901) 828-8419.