• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

VA Mobile Home

Status
Not open for further replies.

Ray Christ

Sophomore Member
Joined
Apr 17, 2002
Professional Status
Certified Residential Appraiser
State
Wisconsin
My Assignment Today Was For A Fed VA Loan. The Subject Is A 8x56 Mobile Home With 2 Additions Making It 24x58. It Also Has A Pitch Roof Equal To A Standard Home

I Have Determined It Is A Mobile Home Because Of Evidence From The Owner And Neighbors That Would Indicate It Was Built 40+.- Year Ago.

I Expect To File My Report Of A 1004 And Mention The Situation.

Will The Fed VA Provide Financing For This Property?
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
My Assignment Today Was For A Fed VA Loan. The Subject Is A 8x56 Mobile Home With 2 Additions Making It 24x58. It Also Has A Pitch Roof Equal To A Standard Home

I Have Determined It Is A Mobile Home Because Of Evidence From The Owner And Neighbors That Would Indicate It Was Built 40+.- Year Ago.

I Expect To File My Report Of A 1004 And Mention The Situation.

Will The Fed VA Provide Financing For This Property?

Not if it is "Mobile". It must have a permanent foundation, be taxed as real estate,and it must meet VA Minimum Property Standards. VA does not care how old it is. By Mobile I assume you mean it is not a HUD Code Manufactured Home? VA does not require that it be a HUD Code MH, only that it meet their MPR's.

BTW, there is no such thing a a Federal VA Loan. VA guarentees loans. The VA does not make loans. Are you a VA Appraiser? If not, you cannot do VA appraisals. If you are, you need to study the VA Manual.
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
Be sure to do something to insure you and the client are covered regarding the site built addition and especially the house type roof addition. Post consumer modifications to factory built housing, if not designed and constructed properly, can cause premature failure of the house and death of the occupant.
 

Tom McDowell

Member
Joined
Jan 19, 2003
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
North Carolina
Are you on the VA fee panel? If not you can not do VA appraisals.
 

David Beasley

Senior Member
Joined
Dec 12, 2003
Professional Status
Certified Residential Appraiser
State
North Carolina
You all may (or may not) be surprised at the number of phone calls I get lately asking am I on the VA panel, that they need to order a VA appraisal...It isn't just the appraisers, it's the LOs too. We educate at least 1 LO every 4-6 months on going to the Portal, and ordering a VA appraisal through TAS...

Most people respond "What's the VA Portal? What's TAS?" Good grief. Who trains these people? What's worse is when we "come up short" with one of these outfits after they manage to get an appraisal ordered...No one ever seems to know who is or ever admits to being the actual SAR. (Or even what an SAR is.)

I only mention this since the OP may have gotten a call to do it and between he/she and the LO, they just didn't know the proper routine. Don't laugh, it's happening out there, everywhere.
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
I get lots of calls that go like this:

Do you cover xxxx County?
Yes
Are you FHA approved?
Yes
Can you do a comp check to make sure the value is there?
No
Click
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks