Double Wide Dilemma, Weird One

[Phil Snyder]

Received a request from a local broker I do a fair amount of work for. When I opened it up I realized it's a house almost directly across from my wife and I's first home. Kinda cool, not much turn over in that area up until recently and I have great comps already due to work very recently done. FHA report, I pop open the crawl space hatch and staring me in the face is thin gauge beams.... a double wide. Keep in mind this house was there when I was there in the late 1990's, never did I ever suspect it of being anything other than site built. I completed the full inspection, got back to my desk and pulled the MLS reports for the last three times it sold, not a single peep about it being anything other than a standard site built home. Only difference I see is maybe a packaged AC unit rather than just outside condensing set up, attic looks a little different, nothing worrisome.

There are NO other similar homes (to my knowledge, but, what do I know apparently!) within the subject's immediate neighborhood of about 100 homes. All the homes are very similar, mostly ranch, bi-levels, a few splits, very few colonials, very few capes. From the street and casually walking around this place looks like every other house in the hood.

Here's the trick, I notified the Lender as I was fairly certain they don't lend on manufactured homes. They just called me to let me know they want to move forward (but, didn't under stand it needs to be on a different form).

No HUD plates, only a few other indicators it's not site built. I'm half afraid I'm in to some sort of modular (on steel frame) but am not sure with no other data (remember, listed and sold three times since the late 80's).

What to do. If FNMA requires 2 mobile home comps I am not sure that's possible, they are quite rare on their own lots, most of them are accessory units on farm parcels, very few of those also.

 

[Tim The Enchanter]

Personally I would play the no competency card. Sorry, no help.

 

[RSW]

I would walk away from it.

 

[Tom Woolford]

Its outside your comfort level. Decline the assignment.

 

[Tim Hicks (Texas)]

If it is on frame modular it is not eligible for Fannie Mae financing.

 

[glenn walker]

Pray LOL The difference between modular and manufactured homes is often in the permanence. For instance modular homes are placed on a permanent foundation; whereas trailers, or manufactured homes are built on a steel chassis with wheels attached. This is so the trailer can be moved or towed .

Before proceeding you really have to find out for sure what you are dealing with because a manufactured has HUD Tags or they were removed and normally they look more like factory built and done on the 1004C form- If this is a Modular it has no HUD tags and often look just like a traditional stick built home and it's done on the regular 1004 form.

No offense but I would consider contacting the lender and informing them that you are not experienced with these. Gut feeling is next appraiser won't have any idea and this bad boy has probably been appraised 2 or 3 times in the past and each time as a stick built home on the 1004 form because none of them ever looked under the house or in the scuttles .

 

[Mr Rex]

Pray LOL The difference between modular and manufactured homes is often in the permanence. For instance modular homes are placed on a permanent foundation; whereas trailers, or manufactured homes are built on a steel chassis with wheels attached. This is so the trailer can be moved or towed .

Before proceeding you really have to find out for sure what you are dealing with because a manufactured has HUD Tags or they were removed and normally they look more like factory built and done on the 1004C form- If this is a Modular it has no HUD tags and often look just like a traditional stick built home and it's done on the regular 1004 form.

No offense but I would consider contacting the lender and informing them that you are not experienced with these. Gut feeling is next appraiser won't have any idea and this bad boy has probably been appraised 2 or 3 times in the past and each time as a stick built home on the 1004 form because none of them ever looked under the house or in the scuttles .

Nope, on frame modulars have a similar steel frame that stays with the house when it is put in place and has similar underpinning or skirting that is cosmetic and not structural just like a manufactured home.

FWIW, typically if it has an attic, it is not a manufactured home and is likely modular. Manufactured homes structure often rely on the ceiling panels glued and stapled or screwed to the prefab roof trusses to meet the required wind and dead loads etc, so there are no breaches into a "attic".

Some of the older modulars had a data plate of sorts either on the outside or inside the door of the electrical panel that has some verbiage indicating modular construction.

 

[Walter Kirk]

I may have mentioned this before but it is applicable to this situation. I was conducting an appraisal for a tax appeal, the subject looked like a stick built ranch with a basement, when I looked at the basement ceiling I saw the undercarriage of a mobile home.
The owner had never looked at the basement ceiling and was quite surprised when I told him that his house was really a doublewide. The house had newer vinyl siding and windows when he bought it and I could find no HUD tags. It seems that most people only see what they expect to see.

 

[Mr Rex]

Could have been an on frame modular. They have been around since the late 60s early 70s that I am aware of.

 

[Walter Kirk]

Could have been an on frame modular. They have been around since the late 60s early 70s that I am aware of.

I doubt it, this thing was older and located in N.J. I saw the complete suspension of the trailers minus the wheels.