Selling a Modular Home: What to Do Before Listing Your Modular Home with a Professional Real Estate Agent

Submitted By
Tom Kraeutler
Answers
1 expert, 0 community
Q:

We are having a serious problem selling our modular home. It is not a manufactured home constructed on a metal frame, but a wood-framed home that was stick-built in a factory. The problem began when someone made an offer on our house. The offer was $50,000 lower than our listing price, and the agent of the person making the offer told our agent that because our house is a modular, it is only worth the offered price. Our agent then claimed she didn't know it was a modular, even accusing us of hiding this detail when in fact we did tell her is was modular on day the listing agreement was written at our house. Now our agent believes what she is being told by the other agent.

To get to the bottom of this, we hired a professional appraiser to identify the value of our modular home. The appraisal came in at $10,000 less than our listing price. Now our agent says the appraiser was wrong because he didn't compare our house only to other modular homes, and she has made us sign an agreement to drop the listing with her.

We believe our home should be sold just the same way that any other home is sold, and that is not any less valuable because it is modular. We do have a conventional 30-year mortgage. The builder of our home agrees with us but our agent thinks the builder is telling us this because we bought the house from him.

We want to sell our modular home for a fair price but also want to make sure it's listed correctly with the next company. What are the rules for selling a modular home?