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Not a happy "Camper".

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G-man

Thread Starter
Member
Joined
Feb 4, 2002
Professional Status
Licensed Appraiser
State
Ohio
After driving 60+ miles to my subject today, I find I am appraising an older, 1960's built trailer, as per owner, that has been completely enclosed by framing with an addition. The county states the home was built in 1921 (???), which I can't explain, but I will try to figure out with a call or two to the auditors office.
I viewed the undercarriage and took pictures of both the steel frame & the wood frame of the addition. I could find no tags or plates regarding manufacture date or builder.
I am quite sure FHA won't touch this ******* of a property, am I correct in this? It has been a long day, and I just need some reassurance that my though processes are still in focus.
Thanks.
 

Blueprint

Senior Member
Joined
Aug 25, 2005
Professional Status
Certified Residential Appraiser
State
Oregon
FHA will not insure on "mobile" homes, which were not built to HUD specification. If the subject was built before June 15, 1976, it was definitely not built to HUD specification and FHA won't touch it.

http://www.HUD.gov/offices/hsg/sfh/ref/sfhp1-9c.cfm
 

TITAN1

Sophomore Member
Joined
Jan 2, 2008
Professional Status
Certified Residential Appraiser
State
Florida
You Drove, You saw, You hopefully collected at the door, and you reportes what you inspected. Its not your fault it dosn't qualify for FHA , if it dosn't. You do your job in a professional and informed manner and if you get nasty e-mails from your client , just forward them to Pam.!!!!
 

Blueprint

Senior Member
Joined
Aug 25, 2005
Professional Status
Certified Residential Appraiser
State
Oregon
You Drove, You saw, You hopefully collected at the door, and you reportes what you inspected. Its not your fault it dosn't qualify for FHA , if it dosn't. You do your job in a professional and informed manner and if you get nasty e-mails from your client , just forward them to Pam.!!!!

I disagree. If the client orders an FHA appraisal (which requires an FHA inspection) and the appraiser determines that a proper FHA inspection cannot be performed on the subject property and therefore cannot provide the requested service, a professional will inform their client that they can't provide the services requested and bill accordingly for the time. I would have most likely known this before even going out by looking at pub recs.

Also, Mobile homes can't be done on a 1004C which likely the client would require in this case so again, you could not properly provide what the client requested.
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
I disagree. If the client orders an FHA appraisal (which requires an FHA inspection) and the appraiser determines that a proper FHA inspection cannot be performed on the subject property and therefore cannot provide the requested service, a professional will inform their client that they can't provide the services requested and bill accordingly for the time. I would have most likely known this before even going out by looking at pub recs.

Also, Mobile homes can't be done on a 1004C which likely the client would require in this case so again, you could not properly provide what the client requested.

I agree. But, the Department of Veterans Affairswill gurantee a loan on such a property. FHA and fannie Mae will not even consider a loan on such a property. I am doing one right now. It is a 1965 single wide that has been real estate for many, many years, and has additions on it. The interior is fine. I called the VA Regional Office and let them know that the 1004C was not appropriate for this type of property. they agreed and said to put it on the URAR and state that I had spoken to them about the issue. My comparables will be mostly HUD Code Manufactured homes as this is in a neighborhood of such properties. I may have one comp that is prior to the HUD code. No site built properties close enough to use as comps.
 

Couch Potato

Elite Member
Joined
Mar 15, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
Correct procedure.

I disagree. If the client orders an FHA appraisal (which requires an FHA inspection) and the appraiser determines that a proper FHA inspection cannot be performed on the subject property and therefore cannot provide the requested service, a professional will inform their client that they can't provide the services requested and bill accordingly for the time. I would have most likely known this before even going out by looking at pub recs.

Also, Mobile homes can't be done on a 1004C which likely the client would require in this case so again, you could not properly provide what the client requested.
I believe that is indeed one of the situation where the HUD manual says contact the client and inform them of the issue. The HUD instructions read:
If the appraiser is unable to locate the HUD Certification Label (HUD Seal), the lender must be notified.
 

G-man

Thread Starter
Member
Joined
Feb 4, 2002
Professional Status
Licensed Appraiser
State
Ohio
Thanks for the replies.

I knew FHA won't fund this type of property, but I needed reassurance after a long day. This is an refi of an existing mortgage, so it should be interesting to find out how someone funded the first loan.
As to researching the property before going out to the property, I always do. The county where this is located even has a photo of the property. If it uploads, you tell me if you can tell this is a trailer or not. The county is taxing it as real property and has the year built as 1921.

Thanks again.
 

G-man

Thread Starter
Member
Joined
Feb 4, 2002
Professional Status
Licensed Appraiser
State
Ohio
Maybe this will work.

Here is the picture of my "camper".
 

RSW

Elite Member
Joined
Feb 18, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
I had one like that a few weeks ago. I called the lender and informed them what was present and let them make the decision. I knew HUD/FHA would not do it. I got my trip and time fee from the lender.
 

Greg Bell

Senior Member
Joined
Jul 7, 2006
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Louisiana
I had a similar one where they had built about 2 feet out around a trailer.Took pictures of the under carriage an an errant taillight and that killed the deal , after much screaming from a Realtor..
 
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