Mobile Estates Real Estate
Sellers Guide
By:
Board of Directors
August, 2012
INTRODUCTION . . .
The following guide is presented to our shareholders as a means to help you in the selling process of your unit. It contains information that we have compiled to assist you in the preparation, pricing, marketing, sale, and closing of your sale. Please use it to the extent you wish. We hope you will utilize this resource to sell your unit. Please note on page 6 we have listed our Privacy Policy to protect all regarding confidential information provided.
PREPARING YOUR UNIT FOR A SUCCESSFUL SALE . . .
Most buyers prefer units that are in good condition, so you’ll want to repair and refresh your home so that it has curb appeal outside and clean interior.
ü A certified mobile home inspector will assess the condition of your unit and flag any problems that could prevent a sale or become negotiating points for buyers. But you can do it yourself by just making sure that your home offers a fresh, up to date look. Better yet, ask a dear friend to provide you with feedback on what they see as potential problems that could prevent a sale or are negotiating points for you. Please don’t shoot the messenger!
ü Review the inspector’s report/feedback and decide what repairs you want to do. Be sure to fix the basics, such as cracked glass, leaky faucets, updating worn surfaces; and replacing outdated appliances.
PRICING THE UNIT . . .
One of the most important things you must do is pricing your unit correctly. The more information you have about recent sales in Mobile Estates, the current listings that are your competition, and unit value trends, the more evidence you will have for setting and justifying your asking price. How to approach pricing your unit:
Ø Compare your unit to similar units currently listed on the market. We recommend you visit some of the listing to understand how those units were priced. Adjust the comparison to your unit by adding value for features your home has, and subtracting value for features your unit does not have.
Ø Get a unit or valuation report from a licensed, professional real estate professional. Remember that they may charge for a valuation report. However, you may ask them to provide you comparable since you are thinking about selling and listing it, interview them on how they would market it, etc.
Ø Consider hiring a professional appraiser for an expert opinion about what your unit is worth in the current market and how to price it competitively. This will help support the price when you negotiate with a buyer.
Ø As you do this research, keep a running list of features that distinguish your house from others currently for sale. These features are your strongest selling points.
Ø Make copies of key records and documents for a buyer’s file. These documents will be essential when your buyer applies for a mortgage.
Ø Analyze all your research; add in other factors, such as how urgently you want to sell; and set an asking price that is REALISTIC!
MARKETING YOUR UNIT . . . On-line & Other Effective Considerations
Over 90% of all buyers use the internet to search for a home, so online marketing is key to selling your unit on the Mobile Estates website – www.mobilestatessarasota.com under the “Real Estate” tab. Compliment your online listing with signs, open houses, and social media – both online and the old-fashioned king, called word of mouth. Some other marketing ideas include:
Ø You should notify the office that you are putting your unit up for sale. You must also complete a profile which the office will provide to you. Once this is provided and sign, the unit will be place on the real estate listing on the web and a hard copy list of what units is “For Sale” for handout in the office upon request.
Ø Complete a Mobile Estates Listing profile form and submit it to the office so that every time the unit is shown you place a copy of the profile in the hands of the prospective buyer. See the attached “Real Estate Listing Profile” SOP (Standard Operating Procedure on page 7 of this guide.)
Ø If you wish to list your unit profile on the Mobile Estates website along with pictures that you will provide in a PDF format for a fee, please contact the Webmaster, Connie Deschamps at .
Ø Write a professional listing ad that includes all the best features that you outlined on your profile of your unit that will attract buyers, and place it also on the web at “ForSalesByOwner.com”. Also post a video tour of your home so sellers can upload a video to have a virtual 360 of your unit. While it cost, it is very affordable.
Ø Place a “For Sale” sign in your front yard and make sure that it is clear and legible with a phone number. It is also important to have an attached profile holder on your sign that contains profiles of your home so that as people drive by they can pick up a copy of all of the amenities of your unit, along with the selling price. Again, outside curb appeal is important.
Ø De-clutter and clean to make your unit more spacious. Consider renting a storage space for seldom-used furniture, off-season clothing and unused items to make it appear more open and spacious.
Ø Stage your unit so it makes a great first impression to prospective buyers.
Ø Hold Open Houses to showcase your unit.
Ø Spread the word that your home is on the market by telling friends, neighbors, and acquaintances. Leverage real-life social networks like senior groups, local shops, church and community groups, and more. Of course, you’ll want to post your listing at all your online social networking sites, too.
Ø Strengthen your marketing power by posting your unit on Craigslist and community websites.
LEGALITIES/FINANCING . . .
Ø There’s no avoiding it, selling and buying real estate involves lots of paperwork and legalities. You can navigate this process if you are careful, meticulous and rely on the counsel of qualified experts, especially a real estate lawyer or a license real estate professional.
Ø Make sure potential buyers are pre-approved to ensure that they will qualify for a mortgage on mobile units. Please note that if you have an account with Florida Shores Bank (Sarasota & Venice) they offer competitive rates if you open a checking account with them since the handle Mobile Estates Lockbox service.
Ø We strongly recommend you hire a real estate attorney who can help you handle the paperwork, to handle the closing to insure that your transfer is legal and within the guidelines of Florida Statutes.
Ø Prepare for and cooperate with the buyer’s unit inspector and appraiser since they may want certain inspections and make an offer contingent on the unit passing them.
Ø Only accept offers from qualified buyers (ideally pre-approved buyers but that is not always possible). When you receive an offer, you and your attorney can accept, reject or make a counteroffer.
Ø Agree on a sale price and have your attorney assist you with the contracts.
Ø Agree on a closing date that is acceptable to all parties.
Ø Notify the office once you have in hand a signed purchase agreement that is signed by buyer(s) and seller(s). A copy of the purchase agreement must be submitted to the office by the seller so the office will provide an Application for Residency/Shareholder for the prospective buyer(s).
Ø Please see the “Application for Residency/Shareholder” SOP (Standard Operating Procedure) on page 10 of this guide.
CLOSE THE DEAL . . .
Ø Contact the office to confirm the status of the Application for Residency. Once confirmed, establish a closing date with all parties involved.
Ø Contact the office and notify them of the closing date.
Ø Either you or the person handling the closing for you should contact the financial institution or the office if there is a balance due on the share that was financed by the Association to secure the payoff amount.
Ø On the closing day, you along with your attorney and/or a representative will meet with the buyer and their legal counsel to sign a wide array of closing documents that will convey the title of the property to the buyer, transfer the share, and the office will issue a share certificate in the name of the new buyer once they receive a copy of the signed, recorded Proprietary Lease Agreement.
OTHER . . .
Ø Please note that the office will show all units that are listed “For Sale” based on requests from prospective buyers and above guidelines. For your convenience on Page 16 is a copy of our “Showing a Unit/Signing out a Key” SOP (Standard Operating Procedure).
CONGRATULATIONS! You’ve sold your unit and we wish you well
IMPORTANT CONTACT NUMBERS . . .
· Mobile Estates Office – (941) 924-3800 Fax: (941) 921-4581
The Association does not endorse, nor recommend any particular real estate law firm or financial institution –
it’s your choice on who you wish to use:
· Florida Shores Bank (941) 237-2050
· Harlan R. Domber , P.A. (941) 923-9930 or (800) 804-0030 or Fax: 923-3400
· Scott Gordon, P.A. (941) 951-1800 or Fax: (941) 366-1603
· Consult the Yellow Pages (hard copy or with your Internet Browser) for a complete listing of Banks and real estate attorneys.
Seller Checklist
Prepare in Advance
[ ] Make sure your unit is clean and presentable both inside and out.
[ ] Make sure the siding on your home is clean and all windows are washed
[ ] A fresh coat of paint can be the best investment. Even if you just paint trim and the front door and shutters
[ ] Check all the lights to make sure they work; install new light bulbs if needed
Maximize Curb Appeal
[ ] Clutter removed from the carport and around the outside of the unit.
[ ] Trim the trees / landscape / plant colorful flowers
[ ] Put away bicycles, equipment and anything else lying outside
[ ] Sweep the walk areas or carport area of any dirt
Offer Fact Sheets/Brochures
[ ] Gather previous inspection reports to have on hand if request or to offer
[ ] Make a list of all home improvements, new appliances and / or fixtures - PROFILE
Neaten Up the Home
[ ] Remove all clutter including items such as small appliances, gadgets, and memorabilia
[ ] Organize the kitchen cabinets to demonstrate how much room you have – Kitchen and baths are two of the most’
Important areas in selling a unt.
[ ] Hide or temporarily disconnect obtrusive extension cords
[ ] Put away the newspapers and magazines
[ ] Put away the cat litter box and store the pets’ toys
[ ] Burn scented candles to make the house smell pleasant
[ ] Be sure to place valuable items in a secure place, i.e. cash, jewelry, medications, etc.
Invite the Neighbors
[ ] Ensure you communicate to the neighbors informing them of the date of the open house and to invite any and all.
[ ] Invite the neighborhood for a private showing one-hour prior to the public open house
Use Signs to Attract Potential Buyers
[ ] Put up “Open House” signs out front on Tamiami Trail a week before you are having your open house to advertise
your unit . . . with directions to the house
[ ] Put up the “Open House” sign in the front lawn
[ ] Place your open house date on all web ads you choose to use.
Mobile Estates Privacy Policy
March 27, 2012
Information We Store
It is necessary for Mobile Estates’ administration to collect financial and personal information of our shareholders in order to manage various functions of Mobile Estates Homeowners, Association, a coop governed by FL719/723 statutes. While we must collect this information to successfully process various transactions, financial and otherwise, this information is safely stored in our computer system and/or files. This information regardless of where it is stored is held in the strictest of confidence. Mobile Estates.com website may store your email address, if you provide one. Mobile Estates will provide you with an encrypted password to access your information which is a safeguard to protect your information on the Mobile Estate website and you will be the only one provided access to your account within the Mobile Estates.com system. Mobile Estates does not sell information of it shareholders, including e-mail addresses to anyone or organization and strictly prohibits any such activity. Mobile Estates protects any and all information you provide to us be it verbal, hard copy, etc. including but not limited to shareholder application, background check, key(s), financial, checking, ACH transfer, credit card info, etc. If a credit card for a transaction, that information must be provided every time you request use of your credit card for a transaction. All credit card transactions are passed to the credit card company through a secure encrypted gateway for authorization, and are not subsequently saved on the Mobile Estates.com servers.
How We Use Your Information
Our primary purpose in collecting and using your personal information is to provide you with a safe and effective way to transact business as a Mobile Estates shareholder. Additionally, we may use your information to provide you with information about improvements, Board of Directors business, financial status, projections, etc. It is our intention to improve the gateway of communication from your Board of Directors to you the shareholder. If you ever receive information or communication from Mobile Estates and / or Mobile Estates.com that is unwanted, please notify us that you wish to unsubscribe from any future communications and it will be honored.