Finding sales info on Mfg Home as personal property

[Tammy Tidwell]

I got asked to appraise a 1980 Mfg. Home in a mobile home park. The owner wants to sell it to a relative and needs to know market value. I got my comps from the park manager. Unfortunately he didn't know the sales price or sales date. Where can I obtain that information?

 

[OSU Beavers]

Try your county assessors office. They usually have one guy whos job is to track PPMH values for tax assessments.

What form are you writing the report on?

 

[Walter Kirk]

Your MLS may list MH sales on leased land. If necessary you can knock on the doors and ask the buyers of the units for the info.

 

[Doug Wegener]

Sales of MH on leased land can be distorted by the park they are in.

 

[Pamela Crowley (Florida)]

Competency???

 

[Ray Miller]

Competency???

Yep, Pam has a strong point.

In answer to your question, I will ask a question and then give you some answers.

Where are your research skills?

1980, you have HUD data plates, you should have an interior data plate as well. This information can be traced back to the MFG who can give you the data you are asking for.

I hope you are not charging a lite fee, my personal property appraisal reports on MFG start at 1000 bever pelts.

Unless you have done a number of these both as fee simple, lease hold or personal property I would advise you working with someone who has. You can get your tail feathers really burnt off doing these kinds of PP MFG subjects.

You should also visit a number of dealers and check thier inventory on their back lots and the asking price for those units as well.

You need to ask a lot of question from the get go:

Is this unit staying in the park? If not where is it going to be moved to? What are the cost? What is lot rent? What is the condition of subject to the sales you have selected as comparables? When was anything updated? The list can almost be endless.

Hope this helps!!!!!!!!!!!!!!

 

[Lax1]

I got my comps from the park manager. Unfortunately he didn't know the sales price or sales date.

From this quote it sounds like you have nothing. If the park cannot give you this information of sales and no one else has the specific info, how do you complete the appraisal. Now if they can and you can verify the info then you are in business.

 

[Karl]

Take the NADA Course & the forms to do a personnal Manufactured Home appraisal are available. Charge accordingly, they are hard work till you learn the system, & there are no AMC's, MB's or lender involved!! By the way you do NOT have to be a licensed Appraiser to do personal property, BUT if you are, you need to follow USPAP.

 

[Jerry Bone Jr]

I got asked to appraise a 1980 Mfg. Home in a mobile home park. The owner wants to sell it to a relative and needs to know market value. I got my comps from the park manager. Unfortunately he didn't know the sales price or sales date. Where can I obtain that information?

You know which units sold. Now go knock on the doors & ask the questions.