When looking to sell your Sarasota Florida mobile home it is in every Sellers best interest to ask themselves the basic question of, what will bring them the most money when they go to sell their mobile home?
Many times the question then gets directed to two different types of thoughts:
- Will The Mobile Home Seller Get The Most Money If They Sell At A Higher Price?
- Will The Mobile Home Seller Get The Most Money If They Sell Faster?
Essentially, is the Seller going to benefit most if they are the tortoise and wait for the right Buyer or will they do the best they can if they move more like the hare and take the first offer that comes to them?
The answer to this basic question is that the mobile home Seller wants to act like both the tortoise and the hare at the same time when selling their mobile home.
The reason for this non direct answer is due to the fact that mobile homes on leased land require the owner of the property to pay a set amount of money each month to the mobile home park in the form of what is commonly referred to as lot rent.
This lot rent will cover several different bills all in one but, most commonly, the lot rent will cover the usage of the land the home is on, the water bill, the sewer bill, the lawn care and usage of the park facilities.
Most mobile homes on leased land are cash transactions, meaning, that the Seller does not have an outstanding mortgage payment they are required to make each and every month for the ownership the home home. They own the home outright in cash.
The lot rent will never be paid off, regardless of how long the owner lives in the park as this is a reoccurring utility type bill that will never go away.
The reason why we bring this up to you, the reader, is that many times we, at The Mobile Home Dealer, have seen that the Seller does not take into account their monthly carrying costs, such as their lot rent, when deciding to sell their mobile home.
Many times these Sellers will price their home too high and continue to pay the lot rent each and every month as well as their electric bill, cable bill, yearly registration and constant property upkeep when things go wrong and need to be repaired within their mobile home.
All of these ongoing bills seem to feel automatic to the Seller and they do not factor them in when pricing their home.
By not factoring these continued bills into the mix the Seller is setting themselves up for a lower net profit when their mobile home eventually does sell as they will need to calculate their monthly carrying costs throughout the entire time they were trying to sell their mobile home to get themselves the most accurate number.
When looking to sell your mobile home we can not stress enough the importance of looking at not only what you are trying to sell the home for but also the costs that will add up should you not be able to sell it as fast as you would like. Not doing this will give you, the Seller, an inaccurate understanding of exactly how much you made on the sale of your mobile home.
This is Mark Kaiser with The Mobile Home Dealer and we help mobile home Buyers and Sellers get to a better place in life.