# How To Make A Property More Attractive to Sell



## katlupe (Nov 15, 2004)

What would you do if you inherited a piece of property that was not worth much, due to the mobile home and addition needs a new roof? It is on 1.66 acres with a 3 car garage, shed with a root cellar, well, septic and garden area. It is not secluded. It is on a main road and a road that goes off that to each of the homes on it. It does not have a house right next to it, like most of the houses on that road. It also has a farmer's field across the road that he does not do anything with anymore. So it has all grown up with some trees and other things. Taxes are very low, even though it is in NY. 

I have listed it several times on craigslist and offered to do owner financing, but need some cash down to pay my father's last bills, and to replace the money we used out of our money for the clean up and the other cost. Filing the will at the probate court was $280. out of my purse. 

When I am there, before the snow came, it looked so nice and peaceful. The main road does not have heavy traffic due to an interstate that is just above it. In fact, this property is within a mile from each end of getting onto that interstate. 

It cannot be listed with a realtor because it is a mobile home and is still on its wheels. So it won't qualify for a mortgage. It is a 1969 Detroiter. It would have been a good vintage home, IF my father had kept up with the roof repairs. He didn't say a word about it or my husband or brother would have helped fix it. He was 93 when he died and it was a nightmare cleaning it out. But it is clean as a whistle now, thanks to my husband. Nobody else helped us. Even though my brother and I are supposed to split everything. He knows he didn't help much though. 

Is it unreasonable to ask a price of $24,900 for a property like this? It is also in an area where there are businesses. The business next door does auto repairs. I had a realtor that a friend knew, do a drive by and he said to start a price of $34,900 based on other properties in the area. So I did start listing it at that and just kept lowering it. It gets lots of calls, but everyone wants no money down and very low payments. I am afraid they'd just ruin it more and then walk off. And I need some money down, hopefully about $10,000 to pay my father's last bills.

I just don't have anymore money to put into it, or I'd put a doublewide on the property and sell it that way. I can't do that. My husband talks about putting a new roof on it, but then we are putting more money into an old trailer. 

My question is what would you do with it? Just auction it off? Or let it go for taxes? I have feelings for this property and hate to do that.


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## EscapingToronto (Jun 27, 2011)

Is it flat? Would you consider renting it?
If you would, you might want to get creative and look at clubs or hobbyists who are looking for properties to use. Dog training clubs are always looking for property. A piece of land with running water and bathrooms are like GOLD to them. It's quite common for people to travel an hour or two to get to these clubs so if it's not near a big town, don't be discouraged.
Just an off-the-wall idea...


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## Gianni (Dec 9, 2009)

It does not sound as if you have a surplus of $$, but I would pull the mobile home and sell it as a site for a mobile. Let someone else worry about financing their trailer and include the lot in the total. It appears to me that the 69 Detroiter is more of a deterrant to the sale than an asset so get rid of it. Is this city water or a well? Sewer or Septic? The hook ups have more value than the trailer does. 
My neighbor has a nice home for sale @ $100K more than we paid for our home. We have more Sq Ft and equal acerage, they have more mature trees. In the last 6 years he has had 4 realtors and tried to sell it them selves all without removing the old box springs and weeds from the side yard. This home has less curb appeal than most but they refuse to put any thing into making it look nice. They live 80 miles away but bought it in 04 as an investment. I feel that your will fall into the same trap if you leave an older mobile on it, to me anything older than a late 80's that was shown to me and I would fire my realtor.


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## SteveD(TX) (May 14, 2002)

There's no way I would even comment on what the possible value might be. I suggest you do some homework in the local market by checking comparable listings and sales. "Letting it go for taxes" makes no sense to me, but you didn't give the particulars. Listing it with a local realtor makes the most sense to me; you can get them to do the homework on values. I have no idea why a realtor can't list it since it's on wheels; most of the value is in the land.

I don't know that I would take back a note on it, but that's exactly what I did with a 1985 single-wide (remodeled) on 13 acres of land. Placed it on Craigs List until I found a young couple with halfway decent credit and 10% down. No late payments after more than 2 years and they've paid down the equity an additional $4K. That mortgage has been a good investment for us. If you do decide to finance it, try to make sure they put at least 10% down, and sell it for high as you can.


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## ChristieAcres (Apr 11, 2009)

Without pictures, none of us who are Agents or Realtors can really assess what could be done, at the most reasonable price, to make it look more attractive. SteveD is right about listing it, as you will get the most exposure and local guidance at the same time.

Here, older mobiles are a "negative" to a property. So, I'd recommend the mobile was removed, then list it as an improved property w/water/power. Here, older mobiles are "given away," and they get hauled away, usually, unless they aren't worth fixing.


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## jwal10 (Jun 5, 2010)

Sounds like the type of property I like to buy. I would build a cabin on it and rent it out unless it was a property I wanted for myself. 

Don't put any value on the mobile and focus on the positive points of the property to get it sold....James


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## wharton (Oct 9, 2011)

It might be worth doing some hard work in determining if any of the folks approaching you from Craigslist have the potential to be solid rent to own candidates. Just because they "want" to pay very low monthly payments, and no money down, doesn't necessarily mean that that are not capable of more. Chances are that the majority of these folks will turn out to be unacceptable to you, but it's probably worth the effort to hunt down the good ones. Ten percent down, and offering to put all the first year's rent toward the loan might lead to potential buyers who will want to stick it out, as after a year they would have quite a bit of "skin in the game". Good luck.


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## katlupe (Nov 15, 2004)

Thank you, for all your replies. They were helpful and have given me some ideas. It has its own well and septic and is about 10 miles from the closest city. 

I will start researching property values right now.


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## oregon woodsmok (Dec 19, 2010)

katlupe, are there any manufactured home dealers in your area? If so, give them the information about your land. They might find a customer who wants to finance a land home package, and your land would be valuable to them because it is already developed,.


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## katlupe (Nov 15, 2004)

oregon woodsmok said:


> katlupe, are there any manufactured home dealers in your area? If so, give them the information about your land. They might find a customer who wants to finance a land home package, and your land would be valuable to them because it is already developed,.


There are several. And one is about 2 miles away! That is a good idea! Thank you.

I am meeting a couple there today. They live in a town about 35 miles away and want to move to the country (don't blame them). I told him about the roof and he is okay with that. He said they'd like property to build a new house and have something to live in while they do. So maybe.......don't want to get my hopes up. The sun is shining here today, so it should look beautiful up there. People stop along side the road to take pictures of the train going over the trestle that is over the road there right by it. If I was single, and didn't own horses, I'd have moved there myself. 

Thanks for all the help! I'll let you know how I make out.


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## farmgal (Nov 12, 2005)

I do not understand why a realtor cant post it even if it cant get a mortgage. I would find a realtor who will. you will have much better exposure with a realtor. I see them in our local homes papers all the time. Sounds like a nice place, septic and well alone costs money. all someone has to do is pull in a nice trailer or double wide. 

If you do anything, try to have a neighbor at least mow or brush hog the lawn.


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## Joshie (Dec 8, 2008)

Have you spoken with a real estate agent? You might be able to sell it as a lot. If you sell it by yourself I would take a lot of pictures in various seasons. 

Is your brother helping any? I believe I would tell him that you expect remuneration for your time.


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## katlupe (Nov 15, 2004)

Good news! I sold it today! Cash deal! Not to the couple that was coming to see it, but a guy that has a very successful business in the area called just before we were leaving to go there. He met us there and bought it for his grandson who is coming home after graduating from college. I couldn't believe it! To top it off, the guy who owns the property next door stopped by when we first got there and he offered me $20,000 for it. He wasn't happy when he knew this other guy was on his way over to look at it. I am relieved to say the least. Thanks for all your ideas and input.


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## katlupe (Nov 15, 2004)

farmgal said:


> I do not understand why a realtor cant post it even if it cant get a mortgage. I would find a realtor who will. you will have much better exposure with a realtor. I see them in our local homes papers all the time. Sounds like a nice place, septic and well alone costs money. all someone has to do is pull in a nice trailer or double wide.
> 
> If you do anything, try to have a neighbor at least mow or brush hog the lawn.


The lawn was beautiful. My husband and my cousin kept it up. But we have had lots of snow so today, it was still pretty much covered. The lot has been kept in beautiful shape and we cleaned it up even more. 

I had a realtor look at it and he gave me the price range to work from. I listed it on craigslist and just this last week started getting lots of calls. You can't get a mortgage here for an old mobile on wheels. 

Thank you for your reply!


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## edcopp (Oct 9, 2004)

Offer the property for sale, with owner financing. Get a small down payment, say $500 or so. Be sure that the price is on the high side as well as the interest rate.

Then as soon as possible sell the note to a private investor at a discount.


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