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Appraising mobile homes (no land- personal property only)

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Paulette in Texas

Sophomore Member
Joined
Jan 24, 2002
I don't see the problem. 1. You have to have the education and you get that from Lincoln; 2. You need the software; 3. You need the data base and contacts.

So get the education, software, and do it. As to value per unit. What is the difference? Do you let your stick-built clients dictate value or do you appraise it based on the market? Same here. Do you go to the seller/buyer and ask them to provide you with sales or do you go out and select the best & most appropriate sales for each assignment? Same here. Never rely on the dealer giving you the assignment for comps to prove your value...that's a sure way to end up in trouble. There are no cheap ways to do this. There are no short cuts to get there. But you can make money. You can produce a credible product which can be supported any where and any time, but it takes all of the above. We do them regularly and without the hassle. If anything they are waaaaaaaay easier than land/home. You just have to start getting the chattel sales and proof from a variety of sources so you have the clout.

To those that think it is some kind of a scam, shame on you. The report is as good as the appraiser preparing it and the data going in it. And the big chattel companies recognize crap when they see it unlike the typical land/home broker or mtg company.

Paulette in Tx
go w... Rotts Rule and Shih Tzu is fine.
 
A

Anonymous

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I have done quite a few mobile home resales of units located in parks. I use a form in the basic a la mode package. Sales info in this area is available in the MLS. Some parks do resales and you can get sales info from them. Caution, determine whether the unit can remain on its leased lot and what the rent will be. If the unit must be moved or if a rent increase will come as a result of the sale, reconsider the assignment.
 

Paulette in Texas

Sophomore Member
Joined
Jan 24, 2002
Y'all are one lucky appraiser if your MLS posts unit only sales. It won't happen in 10 gagillion years in Houston MLS. But if it does, more power to y'all. Have a great one. Partins in Houston
go w...
Rotts rule and Shih tzu is fine.
 
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