Modular Homes, RP tags and Titles

[Judy Whitehead (Florida)]

That is how I viewed it. I really had insufficient data to determine if there was a market reaction to the superior quality of construction, although I did have "ione" sale of a modular home that was set up the same way. The sales price for that one sale was similar to the manufactured home sales so I did not make a quality of construction adjustment, although I did acknowledge in the report that it was a "modular" and not manufactured.

Here in Florida, since our weather is so mild and other than a few "mild" hurricanes 5 years ago, manufactured homes are a popular affordable residence around here.

 

[Couch Potato]

Judy, as modular and manufactured homes are constructed to different standards (modulars to local building codes, just as on site stick built) wouldn't it be appropriate to use other mods and stick built, in your example, then adjust for differences in foundations??

If you used manufactured as comps for Mods, did you adjust for quality of construction??

Apples and Oranges??

"On frame" modulars and HUD code homes are certified to meet different building codes, but the standard of construction is often identical. Either one may be superior or inferior to the other. Two houses built to the different codes may or may not be comparable just as two site built houses may or may not be comparable due to the quality of construction.

Tom, is the house old enough to be a mobile home? The year of construction is a critical piece of information.

 

[Tom Woolford]

Sorry Tom,

But these comments really make it sound like you don't understand the distinctions between Modular construction, and Manufactured Housing. There are several great threads in the archive.

The common indicators of a manufactured home should be easily discovered in any appraiser's visual inspection. (attached chassis, ladles on the corners etc) If there was any question, the additional discovery should have been done prior to leaving BFE, saving a second trip. And, when you're back out there, be sure to photo the tags and plates and get a shot of the chassis for your file. Don't forget to verify the the foundation meets proper engineering standards.

I have not yet inspected the property. The title info and serial numbers were a red flag. And Yes, I do know the difference on inspection.

 

[Jo Ann Meyer Stratton]

Just remember you can not tell whether a home is a manufactured home or a "on frame" modular by just looking at it. You have to verify the original building code that was followed in the factory at the time the home was constructed. They can look exactly alike, same floor plan, same materials, same interior finish, same options, same upgrades or lack of upgrades, etc, etc, etc. If it has a HUD label/tag on the home it is manufactured. Look at the modular label sticky that is in this forum section. Find the modular labels for your state and surrounding states. If you don't find a HUD label compare any label you find to those various state labels for modular homes. Take photos and make notes regarding any tag/label/sticker/data plate, etc, etc that you find. It is the building code that was followed originally in the factory that is importatant, installation, foundations, etc, etc, will be the same or very similar for both types of factory built housing.

 

[Tom Woolford]

OK, this has completely got off track. I have not seen the property. I know the difference between a manufactured, off frame modular, and all the other interations. I know they are built to different codes. The question was: are true modular homes assigned titles and have to be converted to real property by virture of RP tags. I don't think they are. I'm just looking for confirmation.

 

[Jo Ann Meyer Stratton]

http://www.ibts.org/mod_home.shtml

Information on modular homes for each state.

 

[CANative]

If so, you have the dreaded "on frame mod" which is a misnomer, and not eligible for Fannie/freddie financing.

That was a Fannie mae thing rather than a Freddie mac thing.

Jo Ann, have you read the 2009 Fannie selling guide? It seems like they removed/changed the verbiage that made MH's built to non-HUD code ineligible.

 

[Jo Ann Meyer Stratton]

The October 2009 Fannie Mae guidelines still have the Catch-22 situation. On Page 626 they state that all homes constructed on a steel frame are considered manufactured homes--that sentence would include HUD code manufactured homes, mobile homes prior to June 15, 1976 and "on frame" modulars. Then on Page 630 they state that the only loans for a manufactured home that is eligible for Fannie Mae has to be a home originally constructed to the HUD building code that went into effect June 15, 1976. That makes mobile homes and "on frame" modular homes not eligible for Fannie Mae financing.

 

[CANative]

Thanks. I guess I missed it.

 

[Couch Potato]

OK, this has completely got off track. I have not seen the property. I know the difference between a manufactured, off frame modular, and all the other interations. I know they are built to different codes. The question was: are true modular homes assigned titles and have to be converted to real property by virture of RP tags. I don't think they are. I'm just looking for confirmation.

A "true modular" home will not have a title because it requires a vehicle to transport it. An "on-frame" modular may or may not have a title and RP tag depending on when and where it was built .