If you’ve inherited a property and you’re planning to sell it, make sure you read this blog post for 3 tips about how to price your inherited mobile home in Lafayette for sale.
Did you inherit a property that you’re now thinking about selling? While an inherited property can be a wonderful gift from a loved one who has passed on, it can also (quite frankly) be a costly burden. So selling it makes sense and allows you to use the gifted equity for some other purpose. But selling an inherited property may not come easy to you, especially if you haven’t sold a property in a while. So here’s how to price your inherited home in Lafayette for sale…
Tip #1: Price Quick To Sell
Some people set the price of their inherited mobile home based on what they think the market will pay. However, pricing a mobile home involves several important factors, and one of the most critical is how quickly you want to sell. If you choose to sell through a real estate agent, the process can take several months. During that time, you’ll be responsible for paying for the mobile home’s upkeep, utilities, and any necessary repairs, which can add up and cut into any potential profit from a higher sale price.
Many property owners find that it’s often more practical to price the mobile home slightly lower to encourage a faster sale. While you might receive a bit less for the property upfront, you’ll save on ongoing costs like repairs, maintenance, and utility bills. In the end, this approach can balance out, making it a smart option for sellers looking to move quickly without the added stress of prolonged property management.
Tip #2: Avoid Pricing Based On Fond Memories Or Emotions
One of the biggest challenges for mobile homeowners when selling an inherited mobile home is separating personal memories from the actual market value. It’s common to place a higher price on the home due to emotional attachment, like fond memories of growing up or special moments spent there. While the mobile home might hold sentimental value, that doesn’t always align with its market worth. This emotional inflation can lead to setting a price that’s higher than the home’s true value, which is a common pitfall.
A more effective approach is to work with a trusted real estate company to get a professional evaluation. They can offer an unbiased view of what the mobile home is truly worth on the market. While the offer may be lower than you expected, it’s important to remember that it’s not because the mobile home lacks value but because emotional ties can unintentionally inflate your expectations. Working with real estate professionals ensures you get a fair and realistic price for your mobile home, helping you sell faster and without the stress of holding onto unrealistic pricing.
Tip #3: Build In Discounts For Repairs
If you’ve inherited a mobile home that has been lived in for many years, you might discover it needs some repairs before you can sell it. While doing DIY repairs might seem like a cost-effective way to increase the home’s value, consider the time, effort, and money involved in purchasing supplies, tools, or hiring a contractor. For those considering DIY, we recommend checking out this helpful Book for guidance, as well as our picks for the Best Mobile Home Parts and Supplies and the Best Tools for Mobile Home Repairs.
However, another option is to skip the repairs altogether and offer a “repair discount” to potential buyers. By pricing your mobile home lower to account for needed repairs, you save yourself the hassle of doing the work while still attracting buyers. This approach can be more convenient and, in the end, may result in the same financial outcome. Selling the mobile home as-is not only saves time but also avoids the stress of dealing with extensive repairs.
Summary
An inherited mobile home can be a lot of work so if you’re thinking of selling it, you’re certainly not alone. But how to price your inherited mobile home in Lafayette? These tips will guide you on how to price your inherited home in Lafayette for sale.
Why not bypass all the work and cost of selling through an agent and instead get in touch with us today about selling your inherited property to us here at Lafayette Mobile Home Buyer? Just call us at 337-508-0795 or click here and enter your information in the form.
- Are you worried about repossession?
- Does the mobile home need more repairs than you can make?
- Did you inherit a mobile home you don’t want?
- Are you tired of expensive lot fees?
- Are there bad tenants you can’t get rid of?
- Do you own a mobile home that is sitting vacant?
- Do you have liens on the mobile home?
- Do you need to sell your mobile home fast?
No matter why you need to sell your mobile or manufactured home in Lafayette, LA we can help you! Get a cash offer today.
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SPEED AND CONVENIENCE: If you need to sell quickly and are willing to take a reduced price for speed and convenience…WE CAN HELP YOU! If you want the total retail value of your home and can wait to sell it…a better option is to get a realtor. Our specialty is speed and a hassle-free buying process!
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