Foreclosed Motorhomes for Sale: 7 Tips to Make Money Buying and Selling Them
Tip #1: If you want to make money buying and selling foreclosed motorhomes for sale, you need
to have a good idea of what realistic prices are for RVs. Use the recreational vehicle section of
the NADA and KBB guides to get you started. Check local listings and call to get the price of
what the RV actually sold for. Most people will be willing to talk about it. You can also talk to
dealers about trade-in values and their pricing. You want to have a general idea of how much an
RV would sell for so you can easily spot good deals when you see them.
Tip #2: Check out your state regulations and policies regarding a dealer’s license. Most states
allow an individual to sell a small number of vehicles each year without a license. If you plan on
selling more than that, you should get your license. That will also allow you to attend auctions
that are for dealers only.
Tip #3: Have a plan for where you will keep the motorhomes while you try to sell them. If you
only anticipate having one at a time, then this will be less of an issue than if you will have a few.
You will need the space to park them for as long as it takes to sell them, so make sure you have a
legitimate spot. You do not want your RVs to get towed.
Tip #4: Find several local repo auctions to attend. The best place to find quality foreclosed
motorhomes for sale is the large RV auctions. If the bidding doesn’t go much higher than the
starting price, you can purchase a great RV for 50% or more below its suggested value. Call
local banks and auction houses to find which agencies run RV auctions and get all the important
details from them.
Tip #5: Try to find more than one motorhome at each auction. Because bidders compete with
each other, some motorhomes will sell for a lot more than others depending on how many people
are bidding and how much they are willing to pay. Some may end up selling for over what they
are worth while others will go for a fraction of their value. If you only choose one RV to bid on
and it ends up going for a lot more than you want to pay, you should not just bid on any other
RV to get one because you will not know what condition it is in. Instead, pick at least a few to
inspect during the preview so that you have more than one option when it comes to the bidding.
Tip #6: Look for RVs that will likely go for less but still be easy to sell. This is the trickiest
part since most other bidders are looking for the same thing. Some will be only interested in
something specific, so try to see which RVs seem to have less people looking at them. Do not
just go by starting price, since they can be set lower to attract more attention and the price will
end up going higher than those that have a higher initial starting bid.
Tip #7: Do not get into any bidding wars with other bidders or bid too much. Any extra you pay
for the RV will cut into your profits. Wait until you can find one that is cheaper and will sell
easily.