How to Sell a Mobile Home
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- Broker is contacted by seller to market the sale of a mobile home park;
- Broker will first market the property to "set clients" these are clients that have performed before and the broker has a relationship with;
- Broker will attempt to represent both the seller and the buyer of the park. Why? Because this will allow the broker to yield the highest commission from the sale. However, this will create a serious conflict of interest, which cannot and should not be waived;
- Broker will bring offers from these select set clients and often times sell the property for 15-20% below actual market value.
The real estate agent lobby works very hard to make consumers believe that selling a property requires the expertise of a broker. This will make property owners beholden to paying significant broker fees, sometimes in excess of 7% to unqualified agents, for doing very little with reference to the sale of the asset. In fact this is made even more evident when you notice the facts mentioned above.
Dealing with a Direct Buyer
Oxgord MHP is a direct buyer of mobile home parks. We do not waste any time with brokers, excessive fees and costs that should never be incurred. Our process is simple:
- Evaluate the property based on the available numbers, including rent roll;
- Identify a price that makes sense for all parties;
- Draft the purchase sale agreement between Oxgord MHP and seller;
- Open escrow and deposit the necessary funds;
- Close escrow within the allotted period of time.
Dealing with a direct buyer also has a number of different advantages. For example, if you need funds advanced from the purchase price before the close of escrow, Oxgord MHP can assist in getting you an early release of funds from escrow to pay off any bills and costs. Dealing with a direct buyer carries a number of different benefits, which allow you to directly negotiate a price that you feel is adequate for your asset. Instead of allowing a broker to facilitate/dictate the value, which is often times manipulated or artificially low, deal direct with a buyer like us who can close the transaction and deliver results.
In certain cases, you may have ownership in multiple parks across the U.S. Evaluating these types of assets for purchase. Often times brokers will break up the portfolio purchase and will only sell off the assets that have the most amount of interest. That will reduce the value of any asset, which his left behind and ultimately forces a reduction in the price.
Oxgord MHP will buy entire portfolio assets. This is regardless of whether certain assets are not well maintained or whether certain assets do not fit the investment criteria of other buyers. This flexibility will allow us to engage and close on cases at a much faster speed. We can execute on a portfolio purchase, without having to parse out parts of the assets. Our team will evaluate the entire portfolio and offer a purchase price at market levels for the asset.
Call us today for a confidential consultation on your case.