Wondering how difficult it can be to sell your trailer? A trailer can also be used as a mobile home but selling it can take some time and a bit of work. The good news is that it is possible to sell your trailer, but it is easier when it is sitting on your land. The process can be complex if you are selling a trailer that is based on land that is not yours, but it is possible. Here are 4 tried and true tips that can help you sell your trailer without stress.
First and foremost, you should know that selling a trailer is often a complex process but not impossible. There are some steps that you need to consider to make the process manageable and stress-free. You need to do some research on what you should know if you want to sell your mobile home without the stress. The process is likely to be faster if you target buyers who are investors since the selling process will be narrowed into just a few steps. The main advantage of targeting those types of buyers is that they often buy properties in bulk since they have the resources. Investors also have different options they can do with your trailer such as fixing it and reselling it or they can rent it out.
Investors are professionals who know how to handle different issues involved in the sale of trailers which can give you peace of mind. When you deal with an investor, the process is very simple since you only need to call them and they will visit your place to assess the value of the trailer. No strict inspections are required since the investor is primarily concerned about assessing the trailer to evaluate its value. You then get a cash offer and the entire process can close within a few days if all goes well. An investor will handle all the required documentation for you which helps to speed up closing unlike if you do it yourself.
Selling the Trailer on Your Land
The other aspect that you should know is that selling a trailer that is sitting on your land is relatively easier than offering it from a place that does not belong to you. The process is not different from selling your house if the manufactured home is sitting on your land. The good thing is that you can handle the selling process yourself and you can perform tasks like advertising, negotiations, showings, signing contracts as well as closing the deal. Alternatively, you can also engage the services of a real estate agent to conduct the sale of your mobile home. A realtor handles most of the tasks involved in selling your home, which can be stress-free. All you need to do is to check if the sale of the property is conducted properly.
When the Land is Not Yours
Selling your manufactured home that is sitting on land that you do not own is a bit different. The trailer is regarded as personal property and the same situation applies to a “lot-lease situation.” This means that there is no sale of property that can go on without involving the owner of the park. The park owner has certain rules that each new owner of the mobile home is expected to abide by. The owner of the land can refuse to accept the new owner due to different reasons. Thus, you should check if the park owner has “right to first refusal” implying that they can be interested in buying the trailer before you waste a lot of time.
Type of Financing
Securing a loan for a mobile home is often more difficult than getting a loan for a trailer sitting on land that belongs to you. It will be in your best interest to secure a buyer willing to use cash since a trailer costs less than a traditional home. When your mobile home is not in good shape, getting a loan can be challenging so cash buyers will be ideal. Alternatively, you can offer financing options where you accept down payment, then agree on payment terms for the balance.
Selling a mobile home or trailer can be stressful, but there is always a way of doing it. It is possible to sell your mobile home but to make the process stress free, you can target investors. You should make sure that you sell your trailer at the right time so that you can attract many potential buyers. Above all, make the trailer presentable so that it can appeal to the interests of many people. As long as you know the steps to follow when you are selling a mobile home, the process would be stress-free.