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Single wide appraisal "subject to"

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Jan 15, 2002
Professional Status
Certified Residential Appraiser
Subject: Single wide home, with garage. On a lot owned by the owner.

Problem: Lender wants the property appraised "subject to" changing the home from personal property to real property. Owner will need to meet with the county board of review to request the change. Board of review will meet in July (and only in July). Board of review will require the homeowner sign a document requesting change. This is a one time change, once changed, county will not change back.

County has advise me that this is dissadvantage to the homeowner in taxation. The current personal property tax on the single wide and property tax on the lot are less, than if taxed as all real property tax.

Soooo, me thinks this is negitive factor on the value of the subject property if changed. Due to the larger taxation on the property.
But, could it be a positive factor, due to more financing options? ? ?
Since it is a SW will only be compared to other SW's and vacant lots.

County has had this request previously, but could not remeber when it was last done, or could not advise of any sales of homes that have been changed.

Any comments or suggestions to CMA.


Randy Beigh

Senior Member
Jan 16, 2002

I don't know if it is a negative factor or not, but I don't it matters.

If the comparable sales you use are SW homes on land, then there would no adjustment, anyway. The lender is not asking you to anything that is wrong or fraudulent and I would have no problem complying with their request. In fact, if you use other homes that are being reported as real estate and yours is not in that category, then "subject to" is almost a necessity.

Hope this helps


Elite Member
May 28, 2002
Professional Status
Certified General Appraiser
The request is not that unusual. Your comparables should be other single wides converted to real estate. Any influence on value will be reflected by the comparables you use. If you cannot find 3 or more that have been converted, try match pairs of same in a similar county to determine any positive or negative factor. In my area, it doesn't really make an impact except for doublewides, which are worth slightly higher on real estate, despite the trax disadvantage.
You are appraising subject to an extraordinary assumption. Make sure there is reasonable probability of the assumptio or hypothetical condition. Why if the couonty received the request before has the home not been converted to real estate? If there is not a reasonable probability of the county accepting the property as real estate, inform the lender and decline the assignment.
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