When it comes to buying a mobile home park, you may get many takers but only a few of them would be genuine enough. The initial response to your listing might be very positive but when you start negotiating and finalizing the loopholes are evident.
This is because some of the buyers are in the market only to get the cheapest deal possible. If you are also looking for ways to sell your mobile home park, here are some mistakes you must never make.
Avoid writing a listing that is confusing
If you are wondering how to sell your park fast, there is one mistake that you must surely avoid. This is writing a listing that is difficult for people to understand. Your listing should mention almost all the features of your mobile park and its price and other important aspects.
Also include monthly rents, acreage, size of the lots, and the other utilities available. If required also mention the places of interest nearby and other details which would attract the buyers to consider your mobile home park.
The absence of all this information in your listing is surely going to be a huge mistake in your efforts.
Going for a deal blindly
Do not opt for the first deal that comes your way. You need to analyze whether the person offering you the deal is reliable enough. Apart from that, you must get to know how the other party intends to pay.
If they are looking to give you the cash, you may still need the help of an appraiser and the bank gives an ok to the selling price being offered. On the other hand, if he is going for financing, you could discuss it further with finance companies. Just blind trust can force you to make the wrong choice.
Not following the state rules
Every state has a set of rules about mobile parks. Before trying to sell your park, make sure that you have perfect knowledge of the same. If you have many tenants then you may also have to intimate your existing tenants about the change in ownership. Also if your deal might flout any of the rules that have been, you must make sure that you rectify the problem.
Over or under-pricing
Over and under-pricing your mobile parks is not acceptable. A high price may lead people to have high expectations from your mobile park home and if the same is not justified they would feel cheated. Compare the prices of similar properties and find out an average rate that would sufficiently match up to the characteristics of your property.
Selling your mobile home park is tricky. However, if you are confused about how to do that, you may take the assistance of a professional company. They know how to place the right listing and sort trustworthy deals. In most cases, the company would figure out the best option for you in the quickest time and offer you a bargain that would be a steal indeed.