Manufactured Home Addition?

[Tyler Grundvig]

I would punt this one if I was you. Even if you get all the ok's on construction and everything else, how are you going to get good indicators of market value for such a home? Unless this is a common thing in your market place, finding comparable sales will probably be difficult. Of course, this is just my opinion based on my market area.

 

[bpi304]

I didn't include the addition on this one, but it came up again so I called HUD. I got passed around to a "specialist" and he gave me the ok to include additions to a manufactured home pending proper permits and as long as the quality is equal to or better than the original MH. He also stated that if it looks sound and doesn't appear to affect the structural intergrity then I don't need to make it subject to inspection.

I thought I'd pass this along.

 

[Ray Miller]

I didn't include the addition on this one, but it came up again so I called HUD. I got passed around to a "specialist" and he gave me the ok to include additions to a manufactured home pending proper permits and as long as the quality is equal to or better than the original MH. He also stated that if it looks sound and doesn't appear to affect the structural intergrity then I don't need to make it subject to inspection.

I thought I'd pass this along.

Sounds like some one that doesn't know what they are talking about. I would perfer to CYA and call for an inspection. I know of an appraiers here in Wisconsin that did not CYA his A and the unit started falling down around the owner two years later. Yep, they sued and they collected, I did the appraisal for the law firm and they then called in an engineer. But so what there will be an appraiser who will roll the dice and may or may not shot craps. Nina Ross and a ****'n hoss, come on 9. Snake eyes.

 

[Tim Hicks (Texas)]

I didn't include the addition on this one, but it came up again so I called HUD. I got passed around to a "specialist" and he gave me the ok to include additions to a manufactured home pending proper permits and as long as the quality is equal to or better than the original MH. He also stated that if it looks sound and doesn't appear to affect the structural intergrity then I don't need to make it subject to inspection.

I thought I'd pass this along.

I am a little confused about what you are saying here. The 1004C is set up to handle additions. You should not include it in GLA, but you should report it correctly and give it appropriate contributory value. That would be the same with HUD or any other type of loan. If it is not properly permitted in some areas it would have no value. Here, many rural areas don't require permits and there are many manufactured homes with additions. We just compare apples to apples and adjust accordingly for additions.

 

[bpi304]

I am a little confused about what you are saying here. The 1004C is set up to handle additions. You should not include it in GLA, but you should report it correctly and give it appropriate contributory value. That would be the same with HUD or any other type of loan. If it is not properly permitted in some areas it would have no value. Here, many rural areas don't require permits and there are many manufactured homes with additions. We just compare apples to apples and adjust accordingly for additions.

I'm confused too, that's why I called HUD. I didn't include the addition in the GLA, but did describe it to the tee and give it a contributory value. There was nothing like it, therefore I gave it minimal weight and explained.

I called HUD because this came up again in another assignment and I just wanted to make sure that I was doing it correctly. According to the person I spoke with and the way I interpreted it, it's ok to include additions (done correctly) to MH homes in the GLA. It made more sense to me not to include it, but whatever, that's what he said. I have his name and # and I would be happy to give it out to someone who would like to question him. I'd prefer not to give it to everyone and bombard him with questions/concerns from you guys, so if someone wants to be the spokesperson let me know.

I just want to do it right!