Selling a mobile home can be a daunting task. This is evidenced by the fact that many mobile homeowners have expressed their frustrations about selling mobile homes. It is a known fact that selling a mobile home can be harder than selling an ordinary home. This challenge is attributed to the fact that the market for mobile homes is not properly structured. Moreover, the process of selling is often subject to several bottlenecks considering that you have to seek approvals from several authorities.
Here are some reasons why mobile homeowners find it frustrating to sell these units.
Low Prices
A new mobile home can cost you a significant amount of money. But when you are planning to sell it, you might be surprised to realize that most buyers will give you a small fraction of the initial investment. This often forces most owners to play the wait-and-see game, hoping that the prices will get better. Meager offers, thus, are among the man reasons why mobile homes on sale stay on the market for a long time.
Lack of Financing
It is a known fact that getting financing for a mobile home is harder than getting a loan to buy a standard home. Some lending institutions are often reluctant to finance mobile homes because they are often labeled as high-risk investments. If potential buyers are unable to meet your asking due to financing, you expect to stay in the market a lot longer before you can get a buyer.
Lack of Serious Buyers
Another critical challenge as far as the sale of mobile homes is concerned is the lack of serious buyers. Most people asking around for mobile homes do not have a clear reason for buying these properties. Therefore, you might find yourself with a list of up to 20 inquiries before ultimately selling your home. But at the end of the day, you are assured of getting a serious buyer.
Challenges in Getting a Realtor
Getting a realtor who will help you sell your mobile home can be tough. Most real estate agents prefer dealing with homes, considering that they easy to list. Instead of banking your hopes on a realtor, who is not likely to help, you might consider working with a modular home buyer. Selling it to these buyers will help you avoid wasting time looking for potential buyers.