If you are looking for a cash buyer for your mobile home in Comal County you’re in the right spot. Because we buy mobile homes in Comal County. Now to be technical, we only buy mobile homes and land so if you are just looking to sell your mobile home alone, we can certainly point you in the right direction. But we don’t buy mobile homes only.
Okay so now that we got that out of the way, let’s get into the good stuff. If you’ve tried to sell a mobile home it can be very tough because most banks will not finance the sale. This means you are stuck looking for a cash buyer. And finding someone who has all cash wanting to buy your mobile home is tough!
But I probably don’t need to tell you that. I’m guessing you’ve been searching high and low. I’m guessing Googling “we buy mobile homes in Comal County” wasn’t the first thing you did. However, you probably have guessed that a company like ours doesn’t pay top dollar for that mobile home on land. Typically we pay about 65% of the market value of the property in “move in ready” condition.
So while this may still be appealing to some of you who want to sell your mobile home quickly, painlessly, and all cash, we realize some people would rather hold out. If that’s you, then keep reading. There are other options for you if you can’t find a cash buyer for your mobile home. While we buy mobile homes in Comal County we certainly aren’t your only option.
Now I know it’s usually the buyer who needs to figure out how they are going to get the money to buy your home. However, when you are selling a mobile home, many times you need to figure out this solution or you will be waiting for a long time.
While bigger banks have strict protocols on what they will lend on, smaller banks tend to have a little more flexibility. And since you are selling a Comal County mobile home there are plenty of smaller banks to choose from. What you need to find is a locally owned bank. Ask to speak to a loan officer or the manager. Explain the situation you are in and see if they can help.
Often times they will send out an appraiser and figure out what they think your home is worth. This can save you some effort in figuring out how to price your home.
The option we oftentimes use is owner financing the sale of the mobile home and land. Some people refer to this as “seller carry” or “taking payments”. Basically you act as the bank taking a down payment and then monthly payments afterwards. You can get a real estate attorney to write up the paperwork for you for a small fee.
The advantage of doing this is often times you can make more money on the sale than you would selling it for all cash. You get monthly cash flow for years at a time.
The downside is, “What if they don’t pay?” While it’s technically not too difficult to foreclose on someone it can be a lengthy and possibly expensive process. In our experience it doesn’t happen all that often, but it does happen.
This is the option that most people think of doing first. However, in our opinion it’s the worst option. The reason being is most renters do not take good care of mobile homes. We’ve seen this all the way from Lancaster, California to Kingsland, Texas. We aren’t sure why, but it’s a very consistent pattern.
While it may seem appealing to bring in all the monthly rental money, be aware that you still have to pay the property taxes, the insurance, and all the maintenance. Since you are dealing with people who may not care about your home, maintenance costs can end up being very high.
If this has scared you back into the we buy mobile homes in Comal County fold then welcome back. Click here to get started!
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