Selling a mobile home in Michigan is a little different from selling a traditional home. If you think they are the same, then you’re definitely mistaken.
Traditional homes and manufactured homes require different approaches when it comes to selling and marketing them.
Also, every mobile home is different, and so is every location. Therefore, it’s in your best interest to tailor your selling strategies to suit the area you plan to sell your mobile home. As such, you will increase your chances of selling the mobile home.
Selling a Mobile Home in Michigan
Selling a manufactured home in Michigan can be challenging if you don’t arm yourself with a few tricks.
For example, it’s ideal to have all of the documents ready, such as the mobile home title, bill of sale, and so on. It’s unlikely for a buyer to agree to any deal without seeing the home title, among other documents.
To help you get ready for your mobile home sale, we have prepared a guide to lead you through the process.
Prepare for the Market by Cleaning
If you are looking to sell your manufactured home in Michigan, the first thing to do is get it ready for the market. Prepare for a thorough mobile home cleaning, and the best way to handle that is to make a checklist of everything that needs your attention.
You may want to begin with putting away more oversized bulky items you are not using, or donating them, and a deep clean of both the inside and outside of your residence.
Hiring a professional mobile home cleaner will be a lot easier for you. Also, replace major appliances and have your exterior power washed.
On top of all of this, make all necessary repairs to restore the mobile home to its previous glory. You must handle the repairs that you can, and leave the rest for a professional to do it.
Competitive Market-Based Pricing
Everyone has the idea of how much they want to get from the sale of their mobile homes. As such, it is crucial to understand the value of the property.
Forces of demand and supply control the market, and, therefore, your mobile home expectation might not match the market conditions. However, if you set your pricing below the market price, you will likely have a successful sale.
Find out how similar properties are valued in Michigan. If need be, consult an industry pro to give you solid insight into mobile homes market research.
Comparing similar mobile homes in Michigan can help you establish how much you will charge for your home. Who knows, you might even find out that you can charge more for your mobile home than you expected.
Work with a Real Estate Agent
One of the easiest ways to sell mobile homes is to work with a real estate agent. They have the know-how of the mobile home market, and they can cut down your selling journey by half.
Agents can guide you through your prep work, repairs, and staging your place for open houses. Also, an agent can easily point you in the right direction to find the right home inspector and appraiser.
It’s not mandatory to work with an agent; however, if you are selling your mobile home with the property or land it is situated on, you need a real estate agent license in most states.
Such is required since the property is no longer a manufactured home, but is considered a real estate asset.
Working with an agent might cost you a couple of bucks for the service fee, but it’s upon you to decide whether it’s worth it to work with one or go all the way on your own.
Marketing is one part that is crucial to your journey. You need to get it right if you want to make a successful sale.
There are many listings for properties nationwide. Even though it’s advantageous to promote with a national listing, it’s often advised to go for the local listing that focuses on Michigan. You are likely to gain much more from advertising the home in spaces that focus in Michigan.
Online is a big thing these days; you will want to give more attention to online advertising in order to increase your chances of reaching potential buyers for your mobile home in Michigan.
Come up with other marketing strategies to boost your sales as well. For instance, the old-school strategy of flyers and real estate signs can still work like a charm. These are simply other ways to still reach potential buyers in Michigan.
Verify Buyer has Funds
If you are selling a mobile home in a park for all cash, you will want to verify that the seller has all their funds available to close. This also ensures you that the buyer is serious and not wasting your time.
Follow-up with Your Buyer
After a verbal agreement between you and the buyer, within 48 hours, your buyer should be getting approved at the park.
Some buyers stall, and you don’t want to waste time, because TIME KILLS ALL DEALS! As such, keep running your advertisement until you’re sure the deal will go through.
Every state has different rules and regulations concerning the paperwork necessary for selling and purchasing mobile homes. It’s essential to research the rules and regulations regarding mobile home sales in the state of Michigan.
You will need to have your home title, a bill of sale, proof of paid taxes, and a certificate of occupancy. Such documents help the necessary buyer obtain financing from lenders.
The bill of sale is required because a mobile residence is essentially a piece of personal property. As such, you may need to provide the buyer with proof of purchase. Similarly, you need to give the buyer proof/evidence that the home’s taxes are up to date.
If you are looking for an effortless mobile home selling journey, prepare all the documentation before listing your home on the local market.
Even though it’s not a requirement, if your house is in a mobile home park or community, it would be helpful to prepare a copy of the rules, along with other relevant documents.
Just like every state has different rules and regulations, so do mobile home parks. So, your buyer will appreciate this information. You will be helping to make the transition a lot easier for them.
Once the deal is agreed upon, it’s time to sign the paperwork and hand over the mobile home title.
When a buyer pays in installments, you should consider adding yourself as a lienholder to the title. Adding yourself as a lienholder to the title means the new owner can’t refinance or sell the property without satisfying the debt to remove the lien.
Mobile homes are not considered real property, as long as they are sold without the land they are sitting on. As a result, a mobile home title is generally issued by your local Secretary of State. Visit the home titling authority to add your name as the lienholder to the home title.
You will also need to give the Secretary of State, or other tilting authorities in your area, your address to mail you the original title. Then, hold on to the original title until you are paid in full. It’s not a good idea to give the buyer a copy of the title without clearing the payment.
A buyer will likely pull out of the deal if the home title is in question. So, make sure to have your title ready. A title is proof that you own the property.
Selling a mobile home in the state of Michigan can be a complicated venture or just another day in the market (all smooth). This drastically depends on how you prepare everything, from cleaning, repairing the necessary appliances, and marketing, to getting the required documents such as the bill of sale, mobile home title, among others.
As discussed earlier, listing your mobile home on the local market can help boost your chances of meeting prospective buyers. We also recommend working with an agent to increase your chances, since they have a wealth of experience.