Despite all the benefits that come with owning a mobile home park, there are circumstances where selling your park is just the wisest thing to do. Truly, park homes can help you save a considerable amount on housing while offering a decent degree of comfort. You will also enjoy the feeling of belonging to a real community– which is why park homes are the popular choice of many retirees.
However, living in a park home may soon become more expensive when you’re constantly repairing or fixing something. From dealing with old or compromised sewage systems to plumbing challenges that drain your capital, your level of comfort and convenience will likely dwindle over time.
Even when you’re not occupying the home yourself, you might find it daunting to
- search for an ideal and trustworthy tenant,
- badger your tenants for rent payments,
- or even evict non-paying tenants from your home.
When you sell mobile home park, you want to make sure you get the best offer for your sale. And this, in essence, is where selling in the best way comes in.
Your available options
1. Sell yourself
Many mobile home park owners make the mistake of finding buyers and conducting the negotiation all by themselves, even though they have little to no knowledge about home valuation. This results in selling lower than they normally should and possibly going through rigorous processes to find a buyer. Some people may have to spend on advertising which eventually eats into their little profit.
Also, if your park is old and needs much repair, it’d be almost impossible to convince a potential buyer to pay a reasonable amount. People often resort to accepting what the buyer offers, which can be a poor sale on your end.
2. Hire a broker or realtor
If you’re listing your park with a broker, the first thing you should have at the back of your mind is that it isn’t free. Brokers and realtors can take up to 10% of the final sale, and that’s a huge sum. Additionally, you’re not guaranteed of getting a befitting sale for your mobile home park as this depends on the experience and network of your broker.
Another thing is the stress of showing the potential buyers around, answering every single question about your home park, and convincing the buyer to close the deal can be problematic. Potential buyers are always skeptical and careful when buying properties, so you will need a great deal of conviction to pull off a good sale.
3. Sell to park buyers
Yes, park buyer! Some companies are always buying mobile home parks and have decades of experience in the field. These companies have a long record of excellent customer service and will make the purchase process as effortless as possible.
Besides offering you quick offers for your properties, they can also pay instantly to help you gain timely access to funds. From inspections to repairs, the company takes charge of all the operations, enabling you to walk away with your cash, happy and satisfied.
Best of all, they offer great prices for your parks, and there are no irrelevant fees involved. Undoubtedly, selling your park to a reputable company is the safest and most hassle-free way to exchange your property for money.