Are you looking to know the value of your mobile home? If you are thinking about selling a mobile home in Weatherford and looking forward to putting some money in your pocket, you will need to determine its value. Learn more about how to determine what its really worth in our latest post!
Estimating the value of your mobile home or manufactured home is a bit different than determining the value of a single-family property. You have a lot of options when it comes to selling. You might sell through an agent to a traditional buyer, or you might consider selling your house directly to a real estate investor as they pay cash and close within days. By using the tips below, even someone not in the real estate industry will be able to come up with an approximate value.
How To Determine The Value Of Your Mobile Home in Weatherford
Inspect The Inside And The Outside
It’s important to know as much as you can about the property you are selling. There will very likely be repairs needed that you hadn’t previously been aware of. Make yourself a checklist, and carefully inspect every square inch of the house. On the inside, take a good look at the electrical system and make sure everything is in working order. Make sure all the switches and outlets are in working order. Check the walls to ensure the stability as well as any damage from water getting in. Do the same with the roof, keeping an eye out for water staining on the ceiling and walls. Check the flooring to make sure there are no soft spots or holes. This a common problem mobile owners face that single-family owners typically wouldn’t need to worry about. Check out the plumbing to ensure all faucets work properly and that there aren’t any leaks.
Outside, you’ll want to look for any visible signs of damage to the siding and roof. Make sure there are no dents or places water can get in and that there are no soft spots or missing shingles up on the roof. You’ll want to also take a good look underneath to make sure there is no damage or pests living under the home. Look for any loose wiring or insulation, and repair as needed.
At TMC Property Solutions, we can help you determine the value of your mobile home and make you an offer to buy it. While the price may not always be retail, you will save on repairs, marketing, agent fees, commissions and other costs you will incur when listing.
Research Recent Sales
Take a look at what other mobile homes in the area are actually selling for. Don’t take in to account the ones that are listed, focus on the ones that have actually sold recently. The mobile homes need to be comparable in year build, size, and condition. Specifically look at mobile homes within .5 miles if you are in the city, within 1 mile if you are in the suburbs, and within 5 miles if you are in a more rural area. You can also take a look at what the county property assessor has for the value of your mobile home. While their numbers can oftentimes be lower than market value, it can give you a good jumping off point.
Yes, mobile homes are mobile, but you should consider where they are currently located, especially if you own the land the mobile home is currently on. When determining the value for your mobile home, factor in local school ratings, crime statistics, accessibility, and businesses and other amenities in the immediate area. A mobile home in a nice area will sell for more than the same mobile home in a not so great area.
Consult The NADA Manufactured Housing Appraisal Guide
The National Automobile Dealers Association creates a pricing guide for manufactured homes. This is like the Kelley Blue Book of mobile homes. You can either check with your local library for a copy of the physical book, or you can request a report online. To get a report online, there is a fee, but it will greatly help you if you are unsure of the value of a mobile home. There are multiple reports available at different price points, so you can be sure you are only paying for the information that is important to you. This report will not take into account the value of your land only the structure. The land your mobile home is sitting on can sometimes even be worth more than the mobile home that sits on it. Be sure to do your own research as well, without solely relying on the report… especially if you own the land underneath it.
Hire A Pro
If you choose to hire a professional appraiser for your Weatherford mobile home, make sure they are well experienced. Appraising a mobile home can be very different than appraising a single-family home, so you will need to make sure they know what they are looking for. Just like any other real estate, your appraiser needs to be accredited. Once they have looked over your property, be sure to review the report independently to ensure nothing was missed!
If you’re not feeling comfortable about determining your mobile home’s value yourself and you just want to sell your house fast in Weatherford or a nearby city, the easiest thing to do is call a local house buyer like TMC Property Solutions. They can do the comparable market analysis for you and make you a fast and fair cash offer for your house and close on a date of your choice.
To learn more about determining the value of your mobile home, send our team a message or give us a call! (817) 550-5069 Opt# 1
TMC Property Solutions is a Veteran owned/family run business and has been helping families across the DFW Metroplex since the year 2000, “buying houses fast“, providing solutions that work. We are an accredited business and A+ rated members of the Fort Worth BBB.
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