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Manufactured/Modular

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Anonymous

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I have read a few posts here that seem to use the terms modular and manufactured home as one in the same.

NC handles these very differently. A modular is constructed to NC building codes and is contructed off site. A manufactured home is built to HUD standards, and is built off site.

How are other states/ares handling these two types of homes?
 

Tim Hicks (Texas)

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Texas handles them differently, too. Although, I don't think many appraisers actually know the difference, so they don't handle them the way the are supposed to. Plus, we have many appraisers who have only one objective (hitting the predetermined value) so most appraisal and state requirements go out the window. "You are only guilty if you get caught" seems to be appraiser's motto here.
 

Carnivore

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Bill and other NC appraisers,

Its important to note that TRUE modulars have a Modular seal issued by the state of NC.

The seal will have a Serial # that might go like this:

Serial # 08126
NC Modular

Its a very distintive seal. About 2 inch by 3 inch.


Simply, if it ain't got it, it ain't modular.
 

Mountain Man

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Andrew,
Same for GA. A modular has a metal plate with the HUD cert. on one of the corners and a copy of the dealer disclosure information glued some where inside the home.

We have some manufactured home in my area, they look really nice. You can not tell that they are manufactured from just driving by, you have to do a through inspection. Ranch, two story, 1.5 story, all kinds of styles. I have even seen them with stucco highlights on the front, like on a site built home. Keeps me wondering what is next?

The both have to meet strict codes. It seems that site built homes can get away with anything. No code enforcement in our area.

The local home dealer in Clayton has an impressive show room, worth a look see if you are ever down 441.

Mell.
 

Ted Martin

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Boy would I be in trouble in GA. That definition is just the reverse of what I've been taught:

Manufactured homes are HUD code. The Manufactured homes typically have steel undercarriages with a 2x6 floor system, although no always there are a few with all wood under carriages. Comps for manufactured home need to be other manufactured homes (HUD code).

Modulars are built to the same codes (CABO, UBC, International, etc) as site builts but are largely preassembled off site. Comps for manufactured home need to be other manufactured homes (HUD code), depending on quality.

Either one can be installed on a site built foundation.

The big difference is which building code they were built to and whether or not there is a HUD sticker.
 

Ted Martin

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Just noticed that my post was missing my name.

Ted Martin = ksappraiser
 

Mountain Man

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Georgia
Another question. I have seen some reports where land-home packages were used as comps. In GA that is a no-no, must use actual market sales. Been told by some that it is okay to use package sales in some states. Where?
 

David S. Roberson

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In crooked loan originator's dream-states.
 

Jo Ann Meyer Stratton

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Arizona
M. Leggett:

You have it reversed for financing purposes. The states, counties and cities use the various terms interchangably and really get everybody confused.

But for financing--if built to HUD code it is a manufactured home!! Nation wide, all lenders, and it is immaterial what a local government entity calls it.

For financing--if NOT built to HUD code it is NOT a manufactured home, no matter how much construction was done in the factory, whether 5% or 100%. If not built to HUD code it could be a modular, panelized home, kit home, factory built home, factory assembled home, industrialized home---anything except manufactured home.

So if your subject was built to HUD code then the lender wants to know about the certification label (metal tag at the left rear that states the home was built to HUD building code) and the data plate (AKA Certificate of Complance, a letter sized piece of paper with a map of the USA that is inside the home somewhere).

If it was not built to HUD code, then whatever the local government entity requires is what the lender wants to know about.

Remember we are talking about financing requirements---not local building, zoning, subdivision CC&RS, home owner, dealer, assessment, taxation, etc terms.

For financing it is simple--HUD code equals manufactured housing. Pre June 15, 1976 mobile homes equals mobile homes, which has special problems.

Non-HUD code (excluding mobile homes) equals site built housing for financing.

So if you have a home originally constructed to a site built home building code--there was no need for the "mobile home addendum" (which I hate and is totally unneccessary!). Most of the questions on it are underwriter responsibilities, not an appraiser's.
 
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