Selling a MOBILE HOME in a park
Hey everyone, I’m Brad and I’m involved in real estate investment in Georgia. I purchase both mobile homes and stick-built houses all over the state, including in North, South, East, and West Georgia. I have bought many mobile homes and have a good understanding of the process involved in buying and selling them. Additionally, I am a licensed real estate agent with OneSource in Woodstock, Georgia.
Today, I want to discuss the process of selling a mobile home in a park.
Technically, a mobile home in a park is not classified as real estate; it is considered personal property. However, when it comes to the buying and selling process, this distinction doesn’t really matter from a real estate agent’s perspective. I often have people contacting me to sell mobile homes in parks, and I do purchase them. But there are several important things you should be aware of if you plan to sell a mobile home in a park.
Understanding Park Rules & Regulations
First, it’s important to familiarize yourself with the rules and regulations of the park. Many parks have prohibitions on investors owning homes within the park. This is because the park management wants to maintain control over the homes in the park and limit outside competition. Unfortunately, this can hinder the ability to purchase a home within the park. My typical strategy for mobile homes, whether in parks or on land, is to buy them and either rent them out, renovate and sell them, or offer seller financing.
Many parks have rules that prevent investors from buying homes in the park for renting purposes, as they only allow owner occupants. This can limit the options for selling a house. When selling a home in a park, the seller may only have two options: to sell to a cash buyer who will live in the home, or to sell to the park itself, which may make a low offer due to lack of competition.
Furthermore, when selling a home in a park, it’s important to be aware of the park fees, lot rent, amenities, utilities, and associated costs, as potential buyers will inquire about these. In some cases, the lot rent may increase for the new owner after the sale, so it’s essential to disclose this information to potential buyers.
Cash Offers and Park Approvals: What to Expect When Selling Your Park Home
If you are selling a home in a park and are looking for an owner-occupant buyer, it’s important to understand that the buyer will most likely need to pay cash for the property. It’s very unlikely that they will be able to secure a loan for this type of property. While it’s not impossible, the loan options for purchasing a home in a park are very limited.
Additionally, if you are selling to an owner occupant, they will also need to go through the park’s vetting process. Keep in mind that your buyer pool will be more limited in this scenario. If you are hoping that the buyer will move the home out of the park and relocate it, you should also know that moving a mobile home is very costly. Typically, it can cost anywhere from $8,000 to $12,000 to move a mobile home, depending on the distance of the move, the type and size of the home, its age, and its condition.
Understanding the Complexities of Mobile Home Transportation
Depending on the age of the unit, there are municipal and state regulations regarding the age of a mobile home that can be moved. Some older units may not be granted a permit to be moved, so it’s important to check with your local municipality. In most cases, a permit is required to move a mobile home due to its size, and you’ll need a licensed, insured, and bonded professional to do the job while following all regulations. Keep in mind that moving a mobile home can be very costly.
Let’s Connect
Alright, I hope that answers your questions. When it comes to selling a home in a park, your options are a bit more limited compared to selling a mobile home on land. At GA Mobile Home Buyers, we buy mobile homes. You can visit GAmobilehomebuyers.com or arborviewhomebuyers.com to reach us. We have been in business for a long time and have bought many mobile manufactured homes as well as stick-built houses. If you’re interested in selling, reach out to us. We buy homes as is. You can fill out the form on our website or call the phone number provided to discuss your options with a member of our team. Thank you for watching this video.