a Mobile Home Bill of Sale Form integrates a paper transaction record to the sale of a manufactured home for an agreed-upon monetary sum. The contract specifies the relevant details of the purchase, including data pertinent to the buyer, seller, mobile home, price and is executed once endorsed by the participating individuals. Providing this form to verify a sale ensures evidence of purchase for the buyer, and liability from future obligation for the seller and spells out the technicalities of the exchange therein.
Why do I need a Bill of Sale?
Incorporating a Bill of Sale to provide a material transcript of the sale of a mobile home is an effective way to produce a physical record of the transaction that can serve as sufficient proof of the purchase. Taking the time and effort to furnish and complete the form can be advantageous once the time comes to register or transfer the title. Additionally, the form can come in handy should there be any disagreements after the fact, between the buyer or seller, or if any liabilities occurring with the use of the property should arise. It can also be utilized as a paper record to support evidence of purchase price for consideration for tax purposes.
How to Sell a Mobile Home
When it comes to selling your manufactured home, determine first if you wish to sell the mobile home along with the land it currently sits upon, or simply the home itself. If you do not own the land or do not wish to sell the land, the sale will closely resemble the same process as selling a motor vehicle. If you desire to sell it along with the land, the course of action will more closely mirror a real estate sale. If the home resides in a mobile home park, you will want to go over any paperwork you may have signed initially, and take a close look at the rules and the regulations governing your right to sell within the park.
Figure a Workable Asking Price for the Mobile Home
When selling a manufactured home, you will want to evaluate a fair asking price to promote. If you are selling the home alone with no land attached to the sale, a viable option is to inquire on Nada Guides as to reasonable value. There is a fee associated with the evaluation although it can be significantly cheaper than having it professionally appraised. The alternative of having it appraised by a certified appraisal expert can be somewhat more expensive but may pay off in the long run. this may be a requirement should it be sold along with the land as many states mandate a certified appraisal when selling real estate. Once you have an assessment of its worth you will then want to perform diligent market research on comparable homes for sale, and use this to come to an estimation of an acceptable asking price.
There are many ways in which you can advertise the sale of your mobile home. One thing to consider, if your home resides in a mobile home park, is to speak with the management to discuss if they would be interested in purchasing. Keep in mind they may not be looking to pay what you are asking. Despite this, it doesn’t hurt to ask to keep your options open, as in the case you are selling just the home itself, the expenses involved in moving a manufactured home can be expensive. You will want to decide whether or not you will want to contact a broker or sales agent to sell the home for you. The cost of an agent can be up to 10% of the selling price so take it into account before you proceed. In the case, you do wish to utilize a sales agent, opt to hire one specializing in the sale of mobile homes, as conducting the sale may require specific certification and expertise to do so.
Create an Effective Advertisement
If you elect to sell it yourself, the first thing you will want to do is make any necessary repairs and clean the unit thoroughly. Next, you will want to create a description and take multiple photos to best represent the home. Make sure to include the year it was built, the size, square footage, manufacturer, style, included appliances, roof type, contact information and desired payment method (generally cash or owner-financing). When taking photographs makes sure you choose an ideal day to capture the best way in which to display your home in a well-lit environment. Capture photos of the exterior and interior, in all rooms, and any fixtures, appliances or amenities you wish to highlight.
Promote the Sale of the Manufactured Home
There are many avenues to broadcast the advertisement of a manufactured home, starting with the property the home is on. Display a prominent ‘For Sale By Owner’ sign in plain view on or around the mobile home, including a specs sheet nearby for interested buyers. You can advertise your description in the newspaper or a local classifieds circulation. You can also post your ad to online classifieds such as Craigslist or Trulia, or get a quote from an online mobile home reseller such as Mobile Home Pros or EZ Homes.
Show the Home and Negotiate the Terms of the Sale
Once you have potential buyers showing interest in the unit, encourage them to view the home. When showing your manufactured home, give yourself some time to spruce up the overall look for a possible buyer to see. Make sure the unit is open to receiving natural light and is clean and free of any distinct odors. When showing any home, it is a good idea to bake cookies and present a welcoming environment by placing fresh flowers in a vase to make it more inviting. When there is an indication the possible buyer may be interested, you can negotiate price, payment method and the terms of the agreement. If they would like to purchase, an inspection is generally necessary before closing. In this case, it is customary to receive a down payment to secure the unit until the inspection can be completed. This is a good time to start the process of recording necessary information to conduct a background check on the potential buyer if you are providing owner-financing.
Arrange for an Inspection of the Home and Finalize Closing
The buyer will then schedule for a separate inspection to visually assess the present condition on the home. They will want to take a look at all aspects of the mobile home including the heating ventilation and A/C units, roof, foundation, electrical wiring, plumbing and the overall structure of the home. A report will then be generated to be distributed to the buyer within a weeks time. Upon examination of the inspection, both parties can then move forward to closing on a pre-specified date. On the date of closing, the seller will want to be prepared with a completed bill of sale to be signed by both parties, and the title to be signed over to the buyer after the payment is received. If the sale is to be conducted by utilizing owner-financing, completing a promissory note would also be beneficial. Once the paperwork is signed and the payment exchanged, the seller can deliver the keys to the buyer.
Register the Manufactured Home
After completing the purchase of a manufactured home, the buyer is obligated to register the home in most states. To do so you can contact your local DMV facility and request information as to what documents to bring before attending a location. Requirements for most states generally involve the Bill of Sale, transferred title, proof of active insurance, and valid identification.
Completing the Bill of Sale Form
Step 1 – Download the Adobe PDF file and open it to make adjustments to the form.
Step 2 – Seller Information – Input the information details for the seller including the following:
- Seller’s Name
- Seller’s Address
Step 3 – Purchase Price – Enter the full numerical sales price of the mobile home in dollars.
Step 4 – Buyer Information – Include the applicable buyer information:
- Buyer’s Name
- Buyer’s Address
Step 5 – Mobile Home Information – Complete the description of the manufactured home, by identifying the following key facts:
- Serial Number
- Year Manufactured
- Location of Home
Step 6 – Have the buyer and seller furnish signatures, printed names, and date of sale.
Step 7 – To properly authenticate the transaction, commission a notary public to witness the endorsements to the agreement. The notary can then certify the document by signing the bottom segment of the form, and providing the prompted official notary information.