How To Pull Sales Comps For Your Sarasota Mobile Home

How To Pull Sales Comps On Sarasota Mobile Homes

Are you able to pull sales comps for mobile homes on leased land the same way as you are able to pull sales comps for single family stick and brick homes?

We have a question that came to us from one of our viewers who contacted us through our Facebook Messenger to ask the following question, “Mark, could you discuss how I can pull a sales comp up on other homes in the area so that I am able to know how much other mobile homes are being sold for you?” The question went on to say that they own an early 1970’s, double wide in Sarasota, Florida, and would like to know what they should price their home at. “Thanks for all of your content, Mark. James Brockman.”

Thanks, James. I appreciate your question, sir. And you bet, I will be happy to help answer your question on mobile home sales comps here today.

Mobile homes on leased land are viewed as personal property by the State of Florida, not as real estate.

The reason for this is because mobile homes on leased land are sold with just the home, not the home and the land, which could be deemed as real estate if the home and the land were sold together.

As such, personal property is going to be viewed the same way as a vehicle is, which includes a title and not a deed.

The reason why this is important to know is that there is no way to pull an accurate listing of what mobile homes on leased land actually sell for since they are not deemed as real estate. In a real estate sale, James, all sales are recorded with the County that the sale is completed in, as well as those numbers being put on the MLS for reference. The MLS stands for multiple listing services, which is a place where a realtor can pull comps for all sales on real estate in the area.

Since there is no tried and true way of finding out what mobile homes that are deemed as personal property are selling for, then the only way we have found is to speak to other Sellers in the area and ask what their home actually sold for. Take this as a word of caution from me personally, James, because asking a Seller what their home sold for can be about as accurate as asking me how much I weigh. I mean, sure, I will tell the truth!

I am being goofy here, but I am also being serious. You basically have to take the seller’s word for it, unless they will be willing to provide you a purchase agreement that states exactly what was paid for the home.

Since there is no way to find sales comps for mobile homes on leased land, I would also suggest any Seller to contact a licensed mobile home broker in your area, such as The Mobile Home Dealer, and ask them for their thoughts on how you should price your home.

When the Broker gives you a ballpark of a number, ask them why and how they came up with that amount of money and see what they tell you. If the Broker you are working with is not able to tell you exactly and with good reason why they gave you that number, dig a little deeper in their thought process and see why exactly they are saying what they are saying.

If you are not happy with how they determined the number that your home is valued at, then move on to someone else who can help educate you as to why they feel your home should be priced at a particular price point.

I hope this helps answer your question, James, and feel free to reach out to me directly if you would like to discuss anything further as I would be happy to do so.

This is Mark Kaiser with The Mobile Home Dealer and we help mobile home Buyers and Sellers get to a better place in life.
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