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Speaking of Manufactured.....

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Blue1

Thread Starter
Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
Did an assignment.....manufactured home to go on a permanent foundation "system." Made the appraisal "subject to" placement of approved foundation and certificate from local authority. Lender want's a "442" but says I don't have to re-inspect because they have all the certifications, etc. Why should I give them a 442 then? After all, THEY have all the paperwork! I can't certify a foundation anyway......What do y'all think?
 

Dave Brigle

Sophomore Member
Joined
Dec 1, 2002
How can you do a 442 without reinspecting the property. IMHO I would ask for a copy of "all" the certifications (for my file), then reinspect the property to make sure the installation has been completed. Get the HUD #'s and Model info, take pic of HUD plates.

A few years ago an appraiser did a doublewide that didn't have the 2nd unit installed, to solve his problem he took a pic head on and then found another mfg home that was similar and took a back pic.
 

Jo Ann Meyer Stratton

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Arizona
Go to the home, be sure to measure it, take photos of the HUD labels, Data Plate inside, underneath the home, the perimeter enclosure up close, front, rear. On the 442 you can write something like it appears the unit was installed per plans and specs (provided they did put the unit they said they would on the site), the home was installed above ground or at ground level, wheels, axles, tongue removed and has a concrete block--wood--vinyl--native stone--?? perimeter enclosure. Also write on the 442 the HUD label numbers and the serial numbers from the Data Plate. Any concerns the client has regarding the soil conditions, frostline, foundations, etc is the responsibility of the client--not the appraiser, as the appraiser observed the property for valuation purposes. And I say remeasure because owners and dealers have been known to switch units. I had one where the plans and specs described an upgraded unit with dry wall interior, etc, etc; instead the home that was installed was 10' shorter, paneled interior, inferior upgrades, different manufacturer, etc--and the loan officer couldn't understand why I had to prepare a new appraisal report, especially why the value was way less!
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
Do we do 442's on termite inspections. No, the underwriter can sign off on anything they want. If you can determine that the work was done by inspection, then do the 442 and charge accordingly. I would never give a 442 without proper inspection. Just my $0.02.
 

Richard Carlsen

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
ALWAYS MEASURE A HUD CODE MANUFACTURED HOUSE AFTER IT IS SITED!

Never, ever take the manufacturers model specs for the actual size of the finished, sited house i.e. 2866 meaning 28 feet by 66 feet. Measure it especially after it is sited. The dimensions they show on the model such as 2866 relates the dimensions "going down the road" for licensing. 28 feet will include the overhang and the 66 feet long will include the 4 foot hitch. My findings are that a 2866 will be something like 26.5 to 27 wide and 62 feet long. Be sure to write your report accordingly.

Measure, measure, measure....
 

Jo Ann Meyer Stratton

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Arizona
Not only that, but the actual dimensions might be 66.7 x 13.7 and 60.7 x 13.7 and 11.8 x 23.6 (triple wide) instead of the 40' x 66' on what ever the ownership papers (and assessment office), sales contract, invoice, etc, etc might have!
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
More amazing is that we are usually the ones that have to break it to the borrower that their home is really 27.5 x 67.5 instead of 28 x 72. The look of shock and dismay is something I have gotten used to now. Their is nothing like measuring the home, walking through the interior and having the home owner say, "28 x 72, right?". Followed by me explaining that the dealer quoted the hitch length included in their length during purchase. Some have been quite irate about the assumption they blindly followed. Manufactured homes are such a hassle to appraise, I am glad I appraise so few of them. Another point, less than 1% of the manufactured homes in this area are actually "modular" homes, but somehow borrower and appraisers alike think they all are "modular".
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
1. do as Richard suggests: measure to CYA.

2. Certify that a home is placed on site.

3. I always put "by others" under any of the other applicable questions that are asked that I am not comfortable answering: let the underwriter sign off on the stuff you don't know and can't/SHOULDN'T guess about!

Done properly, a 442 is only intended to insure that you have done the same job you should do 'as if' inspecting the home "as is" right after installation:

<span style='color:blue'>in other words don't certify anything you can't see or would not have certified under an "as is" inspection!</span>

For your sake, ANY of the things folks grouse about certifying when inspecting an existing home should be left to someone elses' E&O or general liability. Why should it be different just because it is new construction already :evil:
 
B

Bemis Pownall

Guest
did one a manu a few months back.
county had it 200sf too big.
it was being resold 200sf too big.

i guess no one measured it till me on the resale.
i went out on a sunday(missed church) to re measure.
buyers agent measured too.
listing agent called me every name in the book and that i didnt know how to measure a house LOL.
i proceeded to file an ethics complaint and before i did(2 weeks went by) she finally changed it to the corect sf in MLS.
i notified county as well that they were off... they thanked me!. :D
originally buyer may have been shafted????

well value on the resale was effected by the 200sf difference. :?

its not rocket science...

:drinking:
 
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