Tag: mobile home closing costs calculator

Why You Do Not Need To Attend Your Sarasota Florida Mobile Home Closing!
Looking at buying or selling a mobile home on leased land in the greater Sarasota Florida area?

If so, you came to the right place to learn as much as you can about the process!

We, here at The Mobile Home Dealer are licensed mobile home brokers within the state of Florida and specialize in selling mobile homes on leased land throughout the Sarasota Florida area.

What happens if you are out of state or out of the country and see a mobile home that sparks your interest but is not in a place to be able to come to take a look at it before the opportunity passes itself by?

Do you live out of state and are concerned about whether the mobile home will be sold before you are able to make it down to see it in person?

The Winds Of Saint Armands mobile home

With how fast the real estate market is selling right now one needs to be focused on moving as quickly as they can if and when they find the mobile home that meets their needs throughout the greater Sarasota Florida area.

In order to move as quickly as possible every Buyer and Seller should be open to utilizing the latest technology and being okay with buying a mobile home virtually without physically stepping foot into the property itself.

When looking at buying or selling a mobile home on leased land it is important to know that these mobile homes are viewed as and taxed as personal property in the state of Florida and not as traditional real estate.

What this means is that the home that is being bought or sold has a title associated with it and not a deed like traditional real estate does. Without a deed, these homes follow the same buying and selling process as that of a vehicle in the state of Florida.

With this understanding, the closing process of either the buying or selling of one of these mobile homes on leased land in the greater Sarasota Florida area is one where the Buyer and Seller do not need to be present to complete.

In a traditional closing of a real estate property, there are several documents, offices, and trained professionals involved in the transaction. It is not uncommon to have realtors, brokers, title agents, and bankers all involved in the closing of a real estate transaction.

When buying a mobile home on lease land many of these professionals are not present.

The reason for this is that a mobile home transaction on leased land involves just the Buyer’s and Sellers’ signatures while the closing documents can be orchestrated by a licensed mobile home broker such as The Mobile Home Dealer.

When we complete a transaction many times the Buyer and Seller are not present as we do everything virtually through courier service so that both the Buyer and Seller have the documents they need and execute them in a timely fashion. Once we have the signatures on all the agreements for the purchase and sale of the mobile home we can then use our state license to get the title and registration out of the seller’s name and into the Buyer’s name without either party needing to be present.

It is not surprising that the mobile home market moves just as fast if not faster than the real estate market does. When a good property is listed, many times, it is sold before it is even on the market due to the Sellers, such as we at The Mobile Home Dealer, having a long list of qualified Buyers ready to buy at a moment’s notice. When a property comes up a Buyer has to move quickly!

With the rise in virtual meetings and phone calls that have risen dramatically in the past two years since the pandemic, it is far more normal now than ever before that the Seller is capable of showing their home virtually through either a Zoom call, a Facetime call or a YouTube video. If this is new technology to you look to embrace it and learn the basics so that you are able to see a mobile home through one of these mediums and not rely on traditional still photos.

Palm Terrace mobile home

If you see a home for sale by one of our agents and are interested in learning more but do not feel like you have the time to come down to Florida just to take a look at the mobile home before it sells do not let this be a deterrent to your purchase at all. We at The Mobile Home Dealer will always be happy to set up a time to give you a private video tour of the home to help you get a better idea of exactly what the home is and what the home is not so that you feel as comfortable as possible before moving forward with your new mobile home purchase.

We at The Mobile Home Dealer usually complete these video chats through our cell phones where we connect directly with you, the Buyer.

Most all cell phones these days have the capability to provide this type of service and if you are not familiar with the technology then we will be more than happy to walk you through it so that you feel as comfortable as possible with using it.

When looking at buying or selling a mobile home on leased land in the greater Sarasota Florida area it is always important to know that by working with a trusted licensed mobile home broker such as The Mobile Home Dealer you will have far less to worry about and will have the security in knowing everything is being done right!

This is Mark Kaiser with The Mobile Home Dealer and we help mobile home Buyers and Sellers get to a better place in life.

See Also:
June 9, 2024
How Long Does It Take To Sell A Mobile Home Fast In Sarasota?
How Long Does It Take To Sell A Sarasota Mobile Home?

Anytime one turns on the news, they’re bombarded with constant housing updates from the newscaster telling them how fast homes are selling across the entire country.

Homes that are usually taking months to sell are taking mere days if even going on the market at all before getting a great, if not a full-priced asking offer!

“Hey, Mark. How fast does The Mobile Home Dealer sell homes in Sarasota?

We get asked that all the time!

To discuss that, let’s talk about the last sale that we just made this week.

The problem that the Seller had was they tried to sell their home on their own and they were not able to get it sold.

We were contacted by the Seller who had tried to sell their home on their own for over six months. Throughout this time, they only had a handful of phone calls, they never had a showing, and they never had an offer on their home!

The Seller got frustrated and assumed their mobile home would not sell!

They found The Mobile Home Dealer on Facebook.

The Seller immediately gave us a call. I clearly remember speaking to the homeowner the first time they called and they assured me that, “this would not be the time to sell their mobile home due to a global pandemic going on”.

I remember hearing the desperation in the Seller’s voice that they had made the decision to sell their home, but when it came time to put their home on the market, all they knew how to do was to put a For Sale By Owner sign in the front yard and hope someone would drive by, see the home, make a call, make an offer, and it would be accepted.

Although For Sale By Owner Signs are a good, basic starting point to sell your home, this is not the only place you want to have your home listed or advertised.

That’s where The Mobile Home Dealer came in.

I drove over myself met with the couple and explained that our marketing strategy is much different than any other brokerage firm in town. So much so that we believe that maximum exposure is the best way to obtain quality offers from qualified buyers in a short period. I explained that many times selling to a local buyer, it’s usually not the best route to take simply because it will take the longest time to do.

I further stressed the importance of having the most eyes on their home as fast as possible. And then when the Buyers come forth, to immediately get back to them to schedule a time for them to view their home. This was news to the Seller.

The result?

Well, let me read a portion of the handwritten note from the seller. We just received it last week. “We accepted an offer on our mobile home within 10 days of our listing. We would highly recommend Mark and The Mobile Home Dealer as you’ll receive the best service an agent could provide. We are extremely pleased with The Mobile Home Dealer.”

Mobile homes are a great, affordable housing option and one that will provide a faster than normal sale but has not seen the dramatic increase in price valuation as a single-family market has seen, throughout this real estate housing bubble that we’re currently in.

Having said that, several market reports are forecasting an increase in mobile home sales in 2022 and 2023. In 2020, there was a big jump in the average price of mobile homes in Florida according to US census data.

Since 2014, prices of new mobile homes have spiked. That said, the average price of a mobile home is still much more affordable than the average price of a single-family traditional home. According to the U.S. Census data, the average price of a new manufactured home is $108,100 with a 19.5% increase from 2020. The average price of a single-family conventional home is $454,000.

Although the price of new mobile homes is rapidly increasing, Buyers who have limited budgets still have many choices There are mobile homes that cost as low as $10,000 and can be good enough for a single homeowner. For a single family of two, the options are bigger.

Having said that, even though many buyers are shopping around, a mobile home can be hardly sold if the price is unreal. Some sellers are pricing their mobile homes way above the market value, which makes homes hard to sell.

If you are selling your mobile home, make sure to know the current mobile home pricing condition. Having your mobile home sit for a longer period unoccupied attracts a myriad of problems and financial losses.

If you’re wondering why your mobile home isn’t attracting buyers, there are a few potential reasons. First, make sure that you’re pricing your home appropriately. If your asking price is too high, buyers will be turned off. It’s also important to make sure your home is in good condition – both inside and out. If your home needs repairs or updates, buyers will likely be deterred. Finally, take a close look at your listing photos. Are they professional and inviting? If not, they could be turning buyers away. By considering these factors, you can help ensure that your mobile home is more appealing to buyers.

We at the Mobile Home Dealer cater to both mobile home buyers and sellers. Whether you are selling your mobile home or looking to buy one, give us a call for smooth transactions.

The Mobile Home Dealer are licensed mobile home brokers in Sarasota Florida and the surrounding areas. We provide professional buy and/or sell assistance to our clients. If you have any questions, please contact us by clicking this link. You may also visit our Facebook Page and send us a message.

This is Mark Kaiser with The Mobile Home Dealer and we help mobile home Buyers and Sellers get to a better place in life.

See Also:
June 7, 2024
What Fees Are Paid At A Sarasota Mobile Home Closing?
Have you wondered what fees need to be paid for a mobile home purchase in Sarasota?

Anytime we work with Buyers who are looking to purchase a mobile home that we currently have a listing for, we always make sure they know exactly what it means when they say, “I’d like to make an offer.”

Mobile homes throughout the greater Sarasota Florida area are becoming popular not only for snowbirds, but also for people who are single and older, and even older couples who want to have a peaceful neighborhood.

We here at The Mobile Home Dealer continue to do our very best to deliver all of the most relevant information to you in the mobile home space and wanted to thank you for taking a few minutes to learn about what needs to happen for the sale of the mobile home to go through on leased land down here in the state of Florida.

When looking at buying a mobile home within the greater Sarasota Florida area that is located on leased land one needs to realize that the purchase, sale, and closing actions are different than that of a traditional single-family home.

The reason for this is that, in Florida, a mobile home that is sold on leased land is viewed as and taxed as personal property and not real estate.

What this means is that the purchase process is the same as buying a vehicle.

So, with this understanding, what are the fees to be paid when closing a mobile home sale in Sarasota Florida?

When purchasing a Sarasota mobile home, the actual purchase price of the home is only one of several expenses that will be incurred during the purchase process of that home.

We have found that many, if not most, mobile home Buyers are unaware that there are several additional fees to add to the total cost of a mobile home purchase.

If these fees are not paid at the time of closing, the sale of the home, will not be able to go through.

Country Lakes Palmetto Florida

For there to not be any confusion at the closing table, our company policy at The Mobile Home Dealer is one where we lay out all of the fees to the Buyer so that when they make an offer to purchase the home, they know exactly what they will be responsible for paying come closing day.

The first fee to be paid is the actual negotiated purchase price of the home. This price will be what the buyer is agreeing to pay the Seller for the purchase of the property.

In the state of Florida, the buyer is required to pay state, city, and sometimes county tax, on the entire purchase price of that mobile home. For homes bought in Sarasota, this equates to a 7% tax on the total purchase price of that home. In other counties, such as Charlotte County, a little further south, the county then imposes a 1% tax on top of the 7%, so the total tax is 8% that is owed on the purchase price. The Buyer will need to pay a title transfer fee, which takes the title of the mobile home from the current owner to that of the new owner.

Registration fees will need to be paid at closing by the Buyer as well. This fee ensures that the mobile home that has been purchased is correctly registered to the new owner in the state of Florida. Closing fees will also need to be paid at the time of closing by the Buyer to the licensed mobile home broker as well.

It is not uncommon for all of these additional fees to total, sometimes over $2,000, in addition to the price of the mobile home.

The Buyer of the mobile home must be very well versed in all of these additional fees that are associated with buying a mobile home within the state of Florida before making their offers.

Take note that It is also not uncommon for the mobile home Seller to still be in the home when the Buyer has been approved so, normally a 30-day close is reasonable for the Seller to be able to move their belongings from the property so that the Buyer can move in right away on the date of closing.

If the home is vacant and the park approval has been completed then there would be no reason why the Buyer of the mobile home would not be able to move into their new home right after signing the purchase paperwork!

If the Seller is looking to have an elongated closing, greater than the traditional 30 days, then this will need to be further negotiated during the sale of the home. We would caution all Sellers, however, that if this is the case you may want to reconsider putting your mobile home on the market to sell until you are within the 30-day window of being able to move out of the property. The reason for this is that since mobile home sales can move so quickly when they are located on leased land most Buyers do not want to wait an extended period to move in is enjoy their new Sarasota Florida lifestyle right away and they certainly may walk away from buying your home.

Knowing these things can avoid unforeseen issues for both the buyer and the seller that could result in breaking the deal. It is always important that both the buyer and the seller agree on everything before closing the sale and signing the papers.

With a solid understanding of these additional fees needing to be paid, they will help both the Buyer and the Seller so that the purchase does not fall apart at the closing table due to a lack of funds.

This is Mark Kaiser with The Mobile Home Dealer, and we help mobile home buyers and sellers get to a better place in life.

See Also:
January 29, 2024
How To Close On A Sarasota Mobile Home Virtually
How To Close On A Mobile Home Virtually

With all the advances in technology that we have become so accustomed to using daily, does that mean that you can close on your new mobile home virtually as well?

By virtually, I am referring to the question of, if you, as the new mobile home Buyer, physically need to be in person on the day of closing to ensure that your mobile home is purchased correctly.

SPOILER ALERT!

The direct answer to this question is, no, you don’t have to be present.

The majority of the homes that we at The Mobile Home Dealer sell are to out-of-state Buyers who are buying their new mobile homes virtually.

Many of these sales are done with Buyers who have never been physically at the property before purchasing their mobile home in the first.

Most of the time, these Buyers have already seen the detailed virtual tour we offer on all of our homes before they connect with us to discuss their interest regarding their new mobile home purchase. After we speak to a Buyer to better understand their needs we always offer to set up a video chat with them with a one-on-one viewing so they can have a private tour of the home to see exactly what they want that the virtual tour may or may not show. A lot of times, these things can be the opening and shutting of doors, looking at the closets, turning on lights or running the water, running the dishwasher, you name it we have been asked to do it!

It is not uncommon for all of our agents to do this at least once if not more than that with each Buyer who is out of state and interested in a mobile home.

If you see a home for sale by one of our agents and are interested in learning more but do not feel like you have the time to come down to Florida just to take a look at the mobile home before it sells do not let this be a deterrent to your purchase at all. We at The Mobile Home Dealer will always be happy to set up a time to give you a private video tour of the home to help you get a better idea of exactly what the home is and what the home is not so that you feel as comfortable as possible before moving forward with your new mobile home purchase.

Now, how is that may you ask? Well, one of the reasons why is because, especially throughout the COVID pandemic, many Buyers were unwilling to take a separate trip to the Sarasota Florida area to simply view a mobile home they might be interested in purchasing.

In our experience, the Buyer would see the home online, take a look at the detailed walkthrough videos that we put together on every property we list, and then contact us directly to ask more specific questions about the mobile home they were looking at. Many times, these questions would lead to a private virtual showing for the Buyers through a FaceTime call between a team member at The Mobile Home Dealer and the Buyer.

For those who are unaware of what FaceTime is, this is the ability to have a video call between yourself and anyone you want to speak with. Almost every cell phone at this point has this feature and we use it daily at The Mobile Home Dealer speaking with Buyers and Sellers.

Braswell Heritage mobile home

During this FaceTime call the Buyer many times would ask our team members to check on specific things that the video may not have touched on. These requests could be turning on the air conditioning, opening up and closing windows, showing the electrical panel, and taking a look at the water heater just to name a few common requests made by the Buyer.

Each time we have had one of these calls, we are more than happy to get them scheduled and complete whatever detailed walkthrough task the Buyer asks of us to do!

Regarding the paperwork to close on a mobile home on leased land, there is very little that needs to be done by the Buyer. We, at The Mobile Home Dealer, use a power of attorney form as well as a purchase contract. The Seller and Buyer can complete their signatures at their leisure by having us send them these documents with a prepaid return envelope.

The only items that the Buyer will need to provide us, other than basic signatures on the documents mentioned above, is a copy of their driver’s license or state identification card, as well as separate checks for the purchase both to the Seller and to The Mobile Home Dealer.
Closing on a Sarasota mobile home virtually is a relatively simple process. First, contact your real estate agent or lawyer to discuss the details of the closing. You will need to provide them with the necessary paperwork and documents for the transaction. Once you have agreed to the terms of the deal, make sure all paperwork is signed electronically. The seller will also need to sign documents to complete the sale.

Next, locate a reputable title company to handle the title transfer. Make sure they have experience with mobile homes and can provide a detailed title search. They should also be licensed in the state of Florida. Once the title transfer is complete, your real estate agent or lawyer can arrange for the closing to occur through a videoconferencing platform such as Zoom or Skype.

At the closing, you and the seller will need to review and sign any necessary documents. Your lawyer or real estate agent will provide instructions to do this securely and will send the documents electronically if needed. Be sure to ask questions if you don’t understand any of the paperwork.

Finally, once all the paperwork is signed and all fees are paid, your lawyer or real estate agent will provide the paperwork for the title transfer and coordinate with the title company to complete it. Once the transfer is finished, you will be the proud owner of your new Sarasota mobile home!

Guys, that’s it. when purchasing your mobile home from a licensed mobile home Broker, like The Mobile Home Dealer, trust in our process and that you do not physically have to be present to close on a new mobile home, as we will be happy to take care of everything for you!

The Mobile Home Dealers are licensed mobile home brokers in Sarasota Florida and the surrounding areas. We provide professional buy and/or sell assistance to our clients. If you have any questions, please contact us by clicking this link. You may also visit our Facebook Page and send us a message.

This is Mark Kaiser with The Mobile Home Dealer and we help mobile home Buyers and Sellers get to a better place in life.

See Also:
January 22, 2024
Pros and Cons of Buying Mobile Homes with Cash
Are you looking to buy a home but struggling with finances? Have you considered mobile homes as an option? Mobile homes provide affordable housing solutions for people who want their own space without breaking the bank. But should you pay cash or finance your purchase? In this blog post, we’ll discuss the pros and cons of buying mobile homes with cash so that you can make an informed decision. Read on to find out more!

Reasons Why You Want to Buy a Mobile Home

Mobile homes, also known as manufactured homes, offer an affordable housing solution that appeals to many different types of people.
- One reason why you might consider buying a mobile home is the lower cost compared to traditional homes. Mobile homes are often more affordable because they are built in factories and don’t require the same level of on-site labor.
- Another reason why you might choose a mobile home is its versatility. You can place them on land that you own or rent space in a mobile home park. This means that you have more options when it comes to location and can live in areas where traditional housing may be too expensive.
- Mobile homes are also low maintenance, which makes them ideal for those who want their own space without spending lots of time and money on upkeep. They’re designed with modern conveniences such as energy-efficient appliances and heating systems, which can save you money over time.
- Some people prefer smaller living spaces for various reasons including minimalism or an eco-friendly lifestyle. A mobile home provides just enough space for comfort while still leaving room for personalization according to your preferences
There are several compelling reasons why someone would choose to buy a mobile home instead of a traditional house.

Mobile Home

Know Your Budget

When it comes to buying a mobile home, one of the most important things to consider is your budget. Knowing your financial limitations can help you determine what type of mobile home you can afford and avoid overspending.

To start, take some time to evaluate your financial situation. Determine how much money you have in savings and the maximum amount you would be able to afford for a monthly mortgage payment or rent.

It’s also essential to factor in other expenses that come with owning or renting a mobile home, such as property taxes, insurance, maintenance costs, and utilities. By doing this early on, you’ll be able to get an accurate idea of how much money will be going toward housing each month.

Once you have a clear understanding of your budgetary constraints, start looking at mobile homes within that price range. Don’t forget about pre-owned options which might offer better value for money than brand new models.

Remember that buying with cash may seem like the ideal option since it eliminates debt obligations down the line; it’s not always feasible for everyone. Therefore keep in mind all available financing options before making any final decisions on purchasing a mobile home.

Do You Have Enough Cash or Are You Planning To Get a Loan?

Mobile homes can be significantly less expensive than traditional homes, but they still require a significant investment of money.

The first step in determining your budget is to assess how much cash you have available for the purchase. If you have enough cash on hand to buy the mobile home outright, this can provide some advantages such as not having monthly mortgage payments and potentially being able to negotiate a better price with the seller.

However, if you don’t have enough cash saved up or would rather keep that money invested elsewhere, taking out a loan may be an option worth exploring. It’s important to do research and shop around for loan options that fit your financial situation.

While getting a loan does mean you’ll have monthly payments and will ultimately end up paying more overall due to interest rates, it can also provide flexibility in terms of freeing up cash flow for other expenses or investments.

Ultimately, whether you choose to use cash or get a loan will depend on your personal financial situation and goals. Take time to evaluate all options before making any decisions regarding purchasing a mobile home.

Pros of Buying Mobile Homes with Cash

Buying mobile homes with cash has its advantages.
1. It eliminates the need for a mortgage and related interest expenses, which can save you money in the long run. Additionally, purchasing a mobile home outright may give you more bargaining power when negotiating the purchase price.
2. You may be able to avoid some of the fees associated with traditional financing methods. With no lender or bank involved in your transaction, there will be no loan origination fees or appraisal fees to worry about.
3. Paying cash for your mobile home means that you own it free and clear from day one. This can provide peace of mind knowing that your investment is secure and cannot be taken away due to missed mortgage payments or foreclosure.Purchasing a mobile home with cash also allows for greater flexibility in terms of where and how you live. Without monthly mortgage payments weighing on your finances, you have more control over how much money goes towards other important aspects of life such as travel or savings goals.
4. While paying cash upfront for a mobile home may require significant financial resources initially, it ultimately provides several benefits including cost savings through eliminating interest charges and greater freedom over one’s living situation.
Mobile home for sale in Florida

Cons of Buying Mobile Homes with Cash

While buying a mobile home with cash may seem like the best option, there are some cons to consider.
1. Purchasing a mobile home with cash means you have tied up a large amount of money in one asset, which can limit your liquidity. This could result in financial difficulties if an emergency arises and you need access to cash quickly.
2. Mobile homes tend to depreciate over time rather than increase in value like traditional homes. Therefore, when it comes time to sell your property, you may not be able to recoup your investment or make any profit from it.
3. You miss out on the opportunity to build credit by taking out a loan and making regular payments on time. By paying for everything upfront, you won’t establish any credit history or improve your credit score through mortgage payments.
4. Paying for a mobile home with cash means that you will have no income tax deductions associated with having a mortgage payment as the interest paid qualifies for deduction purposes. Therefore this can make quite an impact on how much taxes are owed each year.
While purchasing with cash has its advantages; always weigh the pros against these cons before making any decisions regarding buying options.

Know What’s Right for You

When buying a mobile home, it’s important to know what’s right for you. This means taking into account your personal preferences, lifestyle, and financial situation.

Consider the location of the mobile home park or community. Is it close to work, family, and friends? Do you prefer living in a rural or urban area? These are all factors that can impact your decision.

Think about the size and layout of the mobile home itself. How many bedrooms and bathrooms do you need? Do you want an open floor plan or separate rooms?

Your budget is also a key factor in determining what’s right for you. Can you afford to pay cash upfront or will you need financing? What monthly expenses can you comfortably afford?

Don’t forget about maintenance and upkeep costs as well. Mobile homes require regular maintenance just like any other type of home.

Take some time to evaluate your personal needs and expectations before making a decision on buying a mobile home with cash. By doing so, you’ll be able to choose an option that fits both your lifestyle and budget without any regrets down the road.

Final Words

Buying a mobile home with cash has both its advantages and disadvantages. While it may seem like an ideal option for those who want to own a property without having to worry about mortgage payments and interest rates, it’s important to consider all aspects before making the decision.

If you have enough cash saved up or if you’re able to sell your current property, then buying a mobile home with cash can be a smart move. However, if you don’t have sufficient funds, taking out a loan might be the better choice.

Ultimately, it’s important to know what’s right for you based on your budget and lifestyle needs. By weighing the pros and cons of buying a mobile home with cash beforehand, you’ll be able to make an informed decision that will benefit you in the long run.

See Also:
September 28, 2023
How Long Can You Wait To Close On Your Sarasota Florida Mobile Home?
Closing day.

The day when one needs to have moved out of their mobile home and be ready to continue on to their next chapter in life.

While the closing day can be met with excitement, and, sometimes, sadness, it needs to be understood how long one can delay the closing date for the sale of your Sarasota Florida mobile home sale.

Before we get into discussing the reasonable time frame for which a mobile home Seller can wait to close on their mobile home sale we first need to stress the fact that the Buyer of the mobile home needs to be park-approved.

As discussed in previous blog entries, it is of utmost importance that every Buyer gets approved by the mobile home park for residency prior to closing on a mobile home.

Sarasota mobile home

The reason for this is that when working with a licensed mobile home broker in the Sarasota Florida area such as The Mobile Home Dealer, we need to always make sure that the Buyer is approved to become a resident so that there are no issues between the park and the Buyer prior to closing.

Most Sarasota Florida mobile home parks hold residents to the same standard if the Buyer is not approved prior to closing on their new mobile home then the park could deny lot rent payment from the new Buyer which could very well lead to their new mobile home being put into the eviction process.

When a Seller is looking to sell their mobile home it is reasonable to request 30 days or less for the mobile home that they just sold to close.

Please note, this is 30 days after the Buyer has submitted an accepted offer and has been approved by the park. Not until both of these items have been successfully completed should the 30-day countdown begin.

The reason why the 30-day countdown should not begin for either the Buyer or the Seller until the Buyer has been approved by the mobile home park is that a park approval can take upwards of 2-3 weeks to complete in some instances. If the Seller agreed to begin their 30-day count down prior to the Buyer getting approved and for some reason, the Buyer did not get approved then the Seller would more than likely to pack up and be ready to go only for their home to get put back on the market!

As one can see this could cause quite a few issues for the mobile home Seller in this instance.

Where mobile home Sellers get into a jam is when they request longer than 30 days post-park approval for their Sarasota Florida mobile home to sell. The reason why a longer close date will cause issues is that most mobile home Buyers are eager to move into their new home and are not willing to wait longer just because the Seller wants additional time.

We strongly suggest that before you ever put your Sarasota mobile home on the market make sure you have located your title for the home and have laid out an easy-to-follow plan for a timeframe you are able to be moved out of your mobile home. Forgetting to do this may cause you issues that you could have easily avoided if you would have taken the time to lay things out on the front end

In addition, when you decide to sell your mobile home and you have enough time to declutter, it is always better to leave everything clean as some buyers can be distracted and turned off by things they don’t want to see. Yes, the documentation is the most important thing to secure and prepare, but the house itself should be presentable so anyone can move without delays.

If you need more time, this can always be negotiated as long as you tell your broker in advance. If you already have a buyer, make sure that both of you agree on everything and everything must be put in writing.

Mobile Home

We have seen a lot of sales end up unsuccessful because the seller changes their mind, won’t cooperate, or is not ready. If you are really serious about selling your mobile home, avoid these issues and focus on complete preparation.

Most successful mobile home sales always start with the seller’s complete preparation, followed by the cooperation of both the seller and the buyer. If you think there is something you are not sure of, you can always consult your broker, or contact The Mobile Home Broker for further assistance.

Moving out of your mobile home is one of the biggest transitions you will experience in life. While the thought of leaving your parents’ rules, and your annoying little brother, and going to university or starting a new job can be exhilarating, it can also be overwhelming.

The good news is, feeling nervous or overwhelmed is completely normal and there are ways to make your transition to independence a smooth journey.

The length of time you can wait to close on your Sarasota Florida mobile home depends on the terms of the sale. Generally speaking, it usually takes between 30 and 45 days to complete a transaction. This timeline can vary depending on how long it takes to obtain financing, the availability of title and escrow services, and any contractual agreement between the buyer and seller. Before signing a contract, it is important to discuss the estimated closing date with your real estate agent or lawyer to ensure that all parties involved are aware of the timeline and expectations.

As a general rule, if you are looking to sell your Sarasota Florida mobile home quickly, make sure you are ready to close within 30 days after the Buyer has been approved by the mobile home park. Asking for any additional length of time above and beyond that could very well leave the Buyer in a position where they will go and buy another mobile home.

This is Mark Kaiser with The Mobile Home Dealer and we help mobile home Buyers and Sellers get to a better place in life.

See Also:
September 25, 2023
How Fast Can You Close On Your Sarasota Florida Mobile Home?
Buying a mobile home is an excellent way to become a house owner without having to pay the high cost of a traditional house. But there is much to consider before buying a house in this style. The following information will help you determine the requirements to buy a mobile house and if it is the right investment for you.
The requirements to buy a mobile home are not that complicated. Every day the demand for this type of house, also called a manufactured home, is greater, given its continued popularity and affordability. However, the buyer must follow some important steps in order to close the sale successfully in the shortest possible time.

You just saw the house that you wanted to buy and you made an offer.

Your licensed mobile home broker, such as The Mobile Home Dealer, has walked you through the negotiation process and you are ready to move forward to set a closing date on your new mobile home.

The Winds Of Saint Armands mobile home

Congratulations!

But, before you get the keys and start moving your stuff in you will need to get park approval.

Anytime you work with a licensed mobile home broker, such as The Mobile Home Dealer, you will need to have a recent park approval on file for everyone who will be living in the home prior to getting the home closed.

Park approvals can take anywhere between a single business day to up to several weeks depending on the park you are working with and how organized, you, as the mobile home Buyer are.

Most mobile home parks throughout the Sarasota Florida area have a list of items that will need to be filled out, completed, and sent to the park office in order to complete the application process. If a park does not get all that they need to have on file to complete the application process then the approval process will stall and drag on for several days if not several weeks.

When looking at making an offer on a mobile home within the greater Sarasota Florida area it is important, you as the mobile home Buyer, make sure to include in your offer how fast you are able to close on the home. If you are able to close right away, pending park approval, then make sure you let the licensed mobile home broker know this so that they can clearly communicate with the Seller of the mobile home.

One of the other most important factors you as the new mobile home Buyer will need to let the Seller know is how long it will take you to get your money together in order to complete the financial side of the purchase.

We, here at The Mobile Home Dealer, require a $3,000 deposit be put down on the home by the Buyer after there is an accepted offer on file and park approval has been provided. After the deposit is put down we will then take the home off the market and not show this property to any other would-be Buyer. Once the deposit is made by the Buyer then they will have 30 days to complete the closing of the property unless a delayed closing is agreed upon between the Buyer and Seller.

When looking at buying a mobile home throughout the Sarasota Florida area it is important to know what needs to be done, what your financial capabilities are, and what needs to be done in order to get the keys to your new mobile home and begin enjoying your time in the Sunshine State. Not having everything laid out and organized at the time the offer is made may delay the closing process for several weeks which will only add additional stress to both you as the Buyer and the Seller when it is not needed.

Palm Terrace mobile home

Financing a Mobile Home

It is important to know that the financing of a mobile home is different from traditional onsite-built houses. Especially if the mobile home is sitting on leased land inside a privately owned mobile home park. According to Investopepedia.com, the most common mobile housing loan is a “chattel” loan or a personal loan. Next, we present some key points that you must know about the financing of this type of housing:
- There are programs that accept borrowers with ITIN.
- Perfect credit is not needed, but it is required for a lower interest rate
- Some banks offer 0% initial payment and programs for housing buyers for the first time
- FHA and VA loans are available (the borrower must have a social security number)
- Not all banks offer loans for used mobile houses
- There are more loan options available if you own the land where the house will be installed. Interest rates for this type of loan are usually .50 to 4% points higher than those of traditional loans
- Seller financing is also an option if the seller is willing to help.
Although a cash payment is the most common way to buy a mobile home, there are other ways to finance a mobile home including the usage of a personal loan. Financing is the most important to prepare to ensure fast and successful buying.

Mobile homes have become a popular choice for many people who are seeking an affordable way to own their dream homes. These homes provide homeowners with the stability they need without breaking the bank. However, it’s essential to evaluate all aspects of buying a mobile home before taking the plunge.

One crucial factor to consider when purchasing a mobile home is its age and condition. Older models may require significant upgrades that could be expensive in the long run, while newer models offer modern features but come at a higher cost.

Another important aspect is the financing options available for mobile homes. While traditional lenders might not provide loans on these types of houses, alternative financing options such as personal loans or manufactured housing loans can help you get your dream house faster.

It’s also important to remember that living in a mobile home comes with different maintenance responsibilities than owning a traditional house. Regular upkeep and repairs are necessary for keeping your investment in great condition.

Overall, buying a mobile home can be an excellent way to achieve homeownership goals without having to pay high costs associated with traditional houses. But like any other significant investment decision, it’s critical first to weigh all factors involved before making your final purchase decision.

The Mobile Home Dealer are licensed mobile home brokers in Sarasota Florida and the surrounding areas. We provide professional buy and/or sell assistance to our clients. If you have any questions, please contact us by clicking this link. You may also visit our Facebook Page and send us a message.

This is Mark Kaiser with The Mobile Home Dealer and helps mobile home Buyers and Sellers get to a better place in life.

See Also:
September 25, 2023