Manufactured appraisal request: 2 units, one permitted

[Ward Dresser]

Manufactured appraisal request:

Main home is 1449 SF Manu built in 1997 on 5 acres. It is permitted on a permanent foundation by County (433A)

There is a second single wide manu used by in-laws on the property that is on post & pier foundation (not permitted by county)

Can I appraise the main manu and just call the second personal property? (or ignore it since it is personal property?

This is a refinance for Fannie Mae.

TIA

 

[CANative]

"Not permitted by the county"

Does that mean that a second dwelling use is not allowed or does that mean they just never bothered getting the permit, installing an acceptable foundation system and recording the 433A?

Unless the property is subject to coastal zoning or has certain flavors of agricultural zoning a 2nd unit is usually a permitted use. And if the unit is in decent shape and not too old, it's been my experience that the market will typicall pay a little extra for a 2nd unit, permitted or not permitted.

But that's not a PC answer on appraisersforum.com. You can't ignore it. You could state that it's your opinion that it's not attached so it's not included in your opinion of value.

 

[Ward Dresser]

It is zoned agriculture with use code mobile home

I believe they just never bothered getting the permit for the second manu, installing an acceptable foundation system and recording the 433A.
It is ~ 15-16 years old, don’t know what shape it is in.

If I just state that it's not attached and it's not included in my opinion of value, will this be acceptable to Fannie Mae?

Thanks Greg for the reply!

 

[Ray Miller]

It is zoned agriculture with use code mobile home

I believe they just never bothered getting the permit for the second manu, installing an acceptable foundation system and recording the 433A.
It is ~ 15-16 years old, don’t know what shape it is in.

If I just state that it's not attached and it's not included in my opinion of value, will this be acceptable to Fannie Mae?

Thanks Greg for the reply!

I would note it in the appraisal report, call it PP and the cost to remove it and cap the well and septic or sewer would be xxxx.

or

I would value it along with the rest of the property and note that it is attached with water, electric, and sewer.

I would talk with the lender and get a detailed sow.

Just my thinking and I am now going out to repair the lawn tractor, so the boss can drive it like the MF or Oliver again.