If it is VA, aswell as other types of financng, stick built homes would be accdeptsble as comparables if no modjular comps are available. I wluld not use HUD Code Manufactured as comps. Tell your appraisr what I have told you and have him contaxt his/her regional office for confirmation.
I have been doing VAAppraisals since January 1992. VA iz the only lender that swill guarentee a loan o a manufactured home built prior to HUD Code, and will guarentee a loan on a combination of factory built and stick built additions, virtually anything as long as it meets VA Minimum Property Requirements.
Even for Texas$900 sounds high. Are you sure it's for a VA Loan?[/QUOT
Good morning, as far as VA , yes I'm sure my wife is ex air force as I spoke with VA Friday seeing if they could help with my issues and they have the aprraisal on file from what I understand he was the only appraiser able to take the job so he named his price and I was told I had to pay it. The aprraisal is done it appraised at 177,000, 10000, under contract price, we sent him 4 comparable stick homes from the same area, he didn't use any, said they, the houses, were either two old, sq footage was off, one had brick veneer, so I'm not sure what to use as comps, he used 4 manufactured homes on foundation with metal skirting. Big difference if you ask me, yes the place we want does resemble a manufactured home on the outside, but it looks stick built inside, I've built and remodeled houses all my life, I understand that there is the asthetic looks that plays into this but what I don't understand is, he appraised the land 37,000, the barns 30,000, that leaves 110000, for the house, that's 48$ sq ft and in this part of Texas that's not feesable. We are on the edge of the oil feilds property is higher here than 65 miles east where he pulled two of the comps. I have called and sent him a email asking him his peramiters for comps, I was told I can ask for a reconsideration of value but I have to send in three comps to hopefully drive the price up, feels like I'm searching for a unicorn,, one person on here said find a new property, not so easy in this country to find home and land package, we run horses, it's our hole life and why we moved to Texas, and I'm not ready to accept the fact that I just paid 900$ for a aprraisal that I dont agree with, I don't believe that you can compare modular and manufactured!!! At the minimum I believe the house should at a minimum go for 65$ sq ft or higher, all stick built homes around here even the old ones needing upgrades went for 88$ and up. Thanks for your time
