Considering selling your mobile home in Trilby? First, it’s crucial to assess its value. Discover how to accurately determine your mobile home’s worth in our latest post!
Valuing a mobile or manufactured home involves different criteria compared to a typical single-family residence. Follow the guidelines below to estimate its value, even if you’re not a real estate expert.
Inspect The Interior And Exterior
Understanding the condition of your property is vital. Expect to find some repair needs during your inspection. Create a detailed checklist and examine every part of the home. Inside, check the electrical system thoroughly, ensuring all electrical components function properly. Inspect walls for stability and signs of water damage, and assess the roof for leaks or water stains. Evaluate the flooring for any soft spots or holes, which are more common in mobile homes than in single-family houses. Review the plumbing for proper operation and leaks.
On the exterior, look for damage to siding and roofing. Ensure there are no compromised areas that could allow water ingress. The roof should be free of dents, missing shingles, or soft spots. Additionally, inspect the area beneath the home for structural damage or pest issues. Check any exposed wiring or insulation, making repairs as necessary.
Research Recent Sales
Focus on recent sales of mobile homes nearby rather than current listings. Compare properties similar in age, size, and condition to yours. Geographically, consider comps within 0.5 miles in urban areas, 1 mile in suburban areas, and 5 miles in rural settings. Also, review the valuation provided by the county property assessor, even though it might be below market value, to start your pricing strategy.
Consider The Neighborhood
While mobile homes are relocatable, their current location, especially if you own the land, significantly impacts their value. When setting a price, consider local schools, crime rates, accessibility, and nearby amenities. A mobile home situated in a desirable neighborhood typically commands a higher price than one in a less favorable area.
Consult The NADA Manufactured Housing Appraisal Guide
The National Automobile Dealers Association offers a pricing guide specifically for manufactured homes, akin to the Kelley Blue Book for vehicles. Consult this guide through your local library or by purchasing a report online. Understanding that these reports focus solely on the home’s value excluding land, make sure to conduct additional research if you own the underlying land.
Hire A Professional
Engaging a professional appraiser experienced in mobile homes is advisable if you’re unsure about doing it yourself in Trilby. Ensure the appraiser is accredited and familiar with the peculiarities of appraising mobile homes. Review their report carefully post-assessment to confirm all aspects of your property were considered.
At SellPascoProperty.com, we specialize in evaluating and purchasing mobile homes, offering a swift and straightforward alternative to traditional selling methods. While not at retail value, selling to us eliminates the costs associated with repairs, marketing, commissions, and agent fees.