If you’ve inherited a mobile home in Phoenix and you’re thinking about selling it, you might have more options than you realize. Read this blog post to find out the 3 financial options you can pursue when selling an inherited mobile home in Phoenix…
When a loved one passes and leaves you with a mobile home, it might be a meaningful gesture but, the truth is, an inherited mobile home isn’t always convenient to own. There are additional bills, expense, lot rent, maintenance, upkeep, and stress; it can be time-consuming.
So if you are thinking of selling the mobile home, you might first be thinking about selling with the help of a real estate agent. However, you might be surprised to learn that you have options that you may want to consider as well. In fact, did you know you have 3 financial options you can pursue when selling an inherited mobile home in Phoenix?
First, Let’s Talk About Selling a Mobile Home Through An Agent…
There’s nothing wrong with selling through a real estate agent but you should be aware that an agent may have you fix up the inherited mobile home first, then there are closing fees and the hefty agent commission you’ll have to pay afterward. And, this method can take months, so some people don’t like how long it takes.
So, what are the other options?
Second, Let’s Look At The Other Options…
Option #1. Refinance
One option, which is a type of selling, is to refinance the mobile home with a bank and use that money for other things. Although you’ll still own the mobile home, this is a financial option that some people might consider if they are selling in order to get the money.
You can still use the house, or rent it out, and you’ll need to pay back the loan to the bank, but it’s one option to consider.
Option #2. Rent To Own
Another option is to sell the mobile home in Phoenix over the long-term by selling to a tenant. Typically, these are tenants who can’t get a mortgage but want to own a manufactured house – so they’ll pay you rent and over time they’ll be able to buy the house (either by paying you an additional amount above their rent that will go toward the purchase of the property, or, by waiting until their credit is cleaned up to purchase the mobile home with a mortgage.)
Option #3. Sell Fast For Cash to a Phoenix Mobile Home Investor
One little-known option that owners of inherited properties might enjoy is the ability to sell the Phoenix mobile home fast for cash. Instead of selling through an agent (and hoping they can find a buyer, which can take months), you can work with a mobile home -buying company (like what we do here at Sell Phoenix Mobile Home Fast) and they’ll often buy your mobile home as-is for cash, usually in as little as a few days. It’s fast, simple, and doesn’t require any work.
There you have it! 3 financial options you can pursue when selling an inherited mobile home in Phoenix!