So, to be honest I get asked questions about this all the time. And with that being said, I wanted to make a video that helps explain how to really evaluate a fair market value on your mobile home.
Click the video below to watch now.
Hi, I’m Chimene Van Gundy, bestselling author and mobile home millionaire and in today’s video we’re going to talk about how to get a fair market value on a mobile home. Now this is a question that I commonly get so I decided that I want to do a video on this to help you guys really evaluate a fair market value on your mobile home. The first thing is it really is going to require a bunch more research and a lot of legwork for you to determine the values you also need to factor in the year of your mobile home. You cannot compare in 1978 mobile home to in 1998 mobile home, I tried to really stay away from mobile homes that were built before 1985 and the reason for this is during the year in 1985 different regulations were passed as far as the structural contents of mobile homes. They’re actually more structurally sound and safer if they’re built in 1985 or higher. The size of the home also matters. A lot of people would prefer a double wide over a single. Now. Let me dispel a myth for you though. Most people think that double wides are bigger and that’s not the case. I have a lot of single wides that are a lot bigger than my double-wide. The differences, one’s longer and one’s wider. What’s your preference? There are three sizes of mobile homes. You have your park model, which is the smallest one that you can get. It’s typically a one bedroom, one bath, more like a tiny home. Then you have a single wide when drainage’s and a 14 by 70 and a 16 by 76 there are some times where you can get them bigger as well. You also want to consider the numbers of bedrooms and bath that are in a mobile home. Is it two bedroom, two bath or is it three bedroom, two bath. Most families are typically going to buy a three bedroom, two bath home anyway. You also want to look at where it’s located and if the park is preferred. I preferred park means that that park has had an excellent rating with keeping the park safe and not having either mobile home fires, mobile home flooding, or any other thing that can happen to the mobile home. You can contact your insurance company and they can tell you whether or not the park is preferred, but typically there’s a sign in the door that says that the mobile home is in a preferred park or not. And you also want to find out what other homes in that park have sold for. And that’s really the best way for you to get your comps. And I hope these hacks help you and determining a fair market value on your mobile home. If you’ve loved these videos, please join me for my free webinar where I teach you how to buy and sell mobile homes. And the three secrets that top real estate professionals use to grow their profits, whether in a booming or slow economy. Please don’t forget to like comment, share and subscribe.
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