Personal property mobile home

[Deleted member 142783]

I am appraising a mobile home in a park (personal property).

Are there specific rights being appraised or do "rights" only apply to real property? I am only valuing the mobile home, although it seems like there is some value based on the fact the unit is installed and on a ground rent lot (logic tells me the value would be much lower if this was being sold someplace else ie would need to be moved).

This is a DOD for IRS step up. ACI does not have a form. I know I can complete without a form and just make sure I have all of the necessary statements and comments....

I have tried googling this question although not any applicable results...

Thanks!

 

[glenn walker]

There are no "hypotheticals " on stepped up basis DOD appraisals. The owners dead and definitely not moving a mobile home. Its valued as a mobile home "as is" keep is simple.

 

[Terrel L. Shields]

DOD for IRS step up.

Use the appraisal form on the old NADA manf. home but is now J. D. Powers. Do the big report.

 

[Shawangunk RE]

I am appraising a mobile home in a park (personal property).

Are there specific rights being appraised or do "rights" only apply to real property? I am only valuing the mobile home, although it seems like there is some value based on the fact the unit is installed and on a ground rent lot (logic tells me the value would be much lower if this was being sold someplace else ie would need to be moved).

This is a DOD for IRS step up. ACI does not have a form. I know I can complete without a form and just make sure I have all of the necessary statements and comments....

I have tried googling this question although not any applicable results...

Thanks!

It is a leasehold, they own the mobile home and lease the lot. Use the manufactured home form, or if this is not for a loan, use a GPAR form. Its not complicated.

 

[Terrel L. Shields]

This is a DOD for IRS step up

Use the manufactured home form

I'd not use the MH form for DOD appraisals