- Dec 27, 2009
- Professional Status
- Certified Residential Appraiser
I have a VA purchase appraisal assignment that consists of one manufactured home that sits on one lot and there is a second lot that is vacant, unimproved, separate assessor parcel number that is included in the purchase. The second lot is adjacent to the subject property and is vacant, has road access, (is excess land) and buildable. There are comparable vacant lots selling for over $100,000. The second lot should be sold off separately. They want this appraisal on a 1004C manufactured appraisal form. The issue is will the assignment results be non credible being 2 distinct property uses and 2 distinct property types? Are there any issues such as highest & best use, adjustments, that I should be aware of? Also, the VA wants the appraisal subject to both parcels being placed on one trust deed. Since I should appraise according to the standard of my peers, I should at least hear what my peers have to say. Please let me know your thoughts. Thanks!