Manufactured Home Listed as Condo

[John Tanner]

My subject is a manufactured home and is listed as a condo with undivided interest in common elements and the land use is 0400 / condo. Do I write this up on a condo form? Never came across this one.

Please advise.

Thanks,

John Tanner

 

[Lobo Fan]

There is such a thing. I think it goes on a 1004C with a condo addendum. I cannot think of a bigger PITA assignment. I hate getting the HOA data on condos.

 

[Hamlet]

You mean it is mis identified in the auditor's records? Sometimes we have computer glitches here, you look up a property, but get the wrong card. Wait a day and look again and the correct property card appears. Maybe you just got the wrong property card for the subject.

 

[Joyce Potts]

Manufactured Condos

I just finished one. For all you Orlando area appraisers, if you've never encountered Yogi Bears Jellystone Park Condo, why you haven't lived!!

Many (not all) are manfactured homes with the legal descriptions reading:

YOGI BEARS JELLYSTONE PARK CONDO 2B-2 CB 15/52 UNIT XXXX

Personally, I think it's nothing but a big BOO BOO.

 

[Restrain]

Yes, there are manufactured homes that are condomiums. They're scarce but they exist. You have to use condo mfg home sales, not typical sales. Also, you probably should use the Condo form instead of the 1004C, as much of the 1004C relates to the Cost Approach, Site Value, etc.

 

[Mztk1]

I've done them before (Hillsborough and Pinellas are a bit like Orlando I suppose) and have always put them on the condo form. It wouldn't have dawned on me to use the MFH report.

 

[CURT VAN HOOSER]

There is a note in the bottom of the Subject information block on the 1004C, page 1 of 7, that tells you what to do.

"Manufactured homes located in either a condominium or cooperative project require the appraiser to complete the Project Information section of the Individual Condominium Unit Appraisal Report or the Individual Cooperative Interest Appraisal Report and attach it as an addendum to this report."

 

[CURT VAN HOOSER]

There is such a thing. I think it goes on a 1004C with a condo addendum.

Exactly...

 

[Terrel L. Shields]

I hope you get a decent fee...wouldn't touch it with a 10 ft. pole for less than $1000.

 

[444nutman]

I did one in Eustis. Luckily I had sales in the project and a property manager who was helpful. Mr. Van Hooser & Mr. Mackley are correct on the condo addendum. My old mentor had to walk me thru that one.