Mobile home questions

[Jo Ann Meyer Stratton]

Thank you for the kind words Brad! Now I will do some bragging:

http://www.naifa.com
click on October 2001 Appraisal E Gram
scroll down to "What is that--now what do I do?"

And I will have to do some nagging too. Have all of you printed out Fannie Mae's Announcement 02-02? And started faxing, emailing, delivering a copy to every appraiser, mortgage employee, realtor, next door neighbor, strangers on the street, etc, etc, etc? Take it to your next chapter, state, national meeting, state boards, etc, etc, etc.

If Fannie Mae follows through, maybe there will start to be some resultes of the petition!

 

[Ted Martin]

Another place they hid the stickers is on the inside of the closets above the door.

 

[Anonymous]

Another trick in our area is that the date the permits are pulled is located in the tax data. So when the foundation permit was pulled, the porch cosntruction permits etc are all on the tax card. It would be reasonable to disclose this and estimate the year built by using the these dates.

I have found with MH's, the toilet trick isnt a very reliable one. Ever wonder how many toilets they have sitting in a warehouse waiting to be installed? Many now use the :just in time" delivery methods for their inventories, but many years ago, they bought as many as they could for the cheapest price, then used them when they needed them.

As far as the cost approach, if you have a reasonable reason for not doinging it and disclose why you are not doing it, there is no reason you have to include it. I would, for the client, offer to develop a land value.

 

[Jo Ann Meyer Stratton]

The toilet tank trick and the day the permit was issued still won't help determine what type of factory built home or the correct year. You have to find either the HUD label on the exterior, the data plate/aka certificate of compliance somewhere inside the home (manufactured home) or the title/ownership documents to identify the serial number for the home. Then with the serial number it can be determined when it was constructed and what building code was used in construction. If it was not built to HUD code, then you will need to look for what every verification or documentation your locale requires for other types of factory built homes. Homes (including site built) are not always installed at the same time as installation. The home might have been at a different site for years before the current site. Also with manufactured and mobile homes, the year shown on the documents is just like a car. For example not all 1976 manufacted homes are HUD code. The 1976 models were constructed between September 1975 and September 1976. A 1976 model constructed prior to June 15, 1976 would be a mobile home, maybe or maybe not constructed to an industry wide code. Those constructed after June 15, 1976 would be a manufactured home constructed to HUD code. Somehow, somewhere, you have to find the documentation! No estimates or guesses allowed with factory built structures!