How to Sell a Mobile Home
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At Oxgord MHP, we are usually faced with various questions through the day, including queries like "Should I call a mobile park broker?" and "Why should I hire a mobile home park broker?" Prospective clients are constantly curious over what they can do to get ahead in the real estate world, and mobile home parks are a great way of earning extra income without spending a ton of money yourself. There are numerous ways to buy and sell mobile home parks, but one of the most effective is to simply hire a broker who can take care of all the legwork for you and who will ensure that your property goes to the best option. Oxgord MHP consists of a team of representatives with decades of combined experience handling mobile home park brokerage and real estate properties.
Where Can I Find Mobile Home Park Properties For Sale?
Mobile home park properties can be listed in a number of different places, some of which are very accessible and easy to navigate. For example, there are various websites dedicated to and specializing in mobile home park buying and selling, and prospective customers can list or browse properties at their leisure. These sites allow you to sort by distance, price, area, and much more.
However, the sites are usually filled with people also browsing, and as such, the information overload can be excessive. Some sellers may ask for an unreasonable price and not budge when confronted, and some buyers may back out last minute because they do not want to go through with such a purchase. This one-on-one interaction can be problematic for both parties due to a lack of mediation.
A mobile home park broker solves this problem. He generally has knowledge of various listings and has them available for buyers to consider. Many times, brokers will simply have pocket listings, which are properties that are not publicly listed but are for sale. These properties are available to those who have a history of making sufficient purchases or who have worked with the broker in the past.
Some people opt to approach park owners who have not put up any listings and try to make a business deal then and there, or at least plant the seed. This method is rather time consuming and has mixed results, as not every park owner wises to sell, and some are simply living on the income they make from the park.
By hiring a mobile home park broker, you can be certain that the individual you are making the transaction with is trusted and that you will be in good hands.
How Much Time Do I Save By Hiring A Mobile Home Park Broker?
You will save a ton of time by selecting a mobile home park broker. You have likely been searching for properties for some time, perhaps even years, and the energy it takes to find something worthwhile and go through with the sale is impressive. Even after months of talking and deliberating between parties, sometimes sales do not happen.
With a broker, you can let all of the communication happen between him and the other party. You can go about your business while he gathers the necessary details about the property and assembles an information pack, which can show the crime level of the neighborhood, potential repairs that need to be done, and the cost of rent. If you can come to an agreement and you wish to make a purchase of the property, or if you wish to sell, the broker will receive a small fee.
Why Should I Purchase A Mobile Home Park?
One of the best reasons to purchase a mobile home park is because of the return on investment. Many people believe that mobile home parks function like apartment complexes where the owner is a landlord and must cater to the tenants and fix what is broken and such. However, an apartment landlord owns the property and rents the space out, so it is his duty to keep it as safe as he can.
On the other hand, a mobile home park owner owns the property, but not the mobile homes on it. He therefore only rents out space for the lots that the homes take up. The individuals who own the trailers themselves are responsible for the upkeep of the homes and for any repairs. This saves park owners hundreds of thousands of dollars, money that can instead be spent on the facilities at the park, the landscaping, safety and security features, and more.
It is estimated that the cost of maintaining an apartment complex can be as high as $100,000 per unit, while the cost of maintain a mobile home park is drastically less - at only $10,000 per lot.
Sellers should also be aware that fetching high prices for mobile home parks is common these days due to no new parks being built. The sector has been closed, and only those parks in operation can be bought and sold. If you have a desire to move on to a new chapter in life by selling your park, a broker can help make that a reality.
Why Select Oxgord MHP
If you are wondering, "Should I call a mobile park broker," the answer is likely yes, and our representatives at Oxgord MHP will be glad to help. We have been involved in real estate for years and our team has participated in the purchase and acquisition of dozens of trailer parks. We know the best tips for buyers and sellers alike, and we always keep up to date on what properties are available or will become available in coming months.
We can answer any question you have, whether big or small. We are available 24 hours a day, 7 days a week, 365 days a year. You are welcome to contact us whenever you wish if you have interest in selling or buying a mobile home park, and we will do our best to assist you.
For more help, reach out to Oxgord MHP today.