APPRAISING A MOBILE HOME

There is more to appraising the fair market value of a mobile home, manufactured home or modular home than taking measurements and counting the number of ceiling fans. Appraising a mobile home requires the same amount of research as doing an appraisal of a conventional home. A personal property appraiser must be familiar with manufacturers, recognizing conditions, values of add-ons such as decks and appliances have knowledge of flooring, wall and roofing materials as well as determining if systems such as HVAC are functional, adequate and up to date. After performing a physical inspection, research still needs to be done by the mobile home appraiser. Location, guide book values, land-lease terms and local market comparable sales all factor into the fair market value. Is the unit located in a desirable community? What is the monthly rent? Is the infrastructure in good condition? Are there an abundance of empty lots in the area? What is the level and cost of maintenance? Is mass transit available nearby?

appraising a mobile home

MOBILE HOME APPRAISER IN ALL 50 STATES 772-359-4300

APPRAISING A MOBILE HOME

Obtaining financing or insurance for a mobile home, manufactured home or modular home requires a comprehensive appraisal. It is common for a mobile home owner or prospective buyer to call upon a real estate appraiser. Unfortunately, mobile homes that are on leased land aren’t considered real estate; rather, they are categorized as personal property. This unique classification can present a problem when trying to find a licensed appraiser to prepare a valuation appraisal. Most real estate appraisers don’t handle mobile homes and most personal property appraisers tend to be wholly unfamiliar with them as well. An experienced personal property appraiser versed in mobile home appraisals can be difficult to unearth.

APPRAISING A MOBILE HOME

Banks, credit unions, insurance companies, bankruptcy and estate courts expect to read an independent, expert and unbiased opinion of value before recognizing an appraisal document. In many cases, mobile home parks are sold to developers. In order to obtain adequate compensation, a mobile home owner needs to obtain a credible valuation appraisal.

APPRAISING A MOBILE HOME

Sometimes tragedy strikes and a mobile home is destroyed. Whether by accident or natural disaster, reimbursement for the unit’s value when it is deemed a total loss must still be calculated by an appraisal. It is obviously a more difficult chore to determine the value of an item that has already been reduced to rubble. It is crucial that the mobile home owner be able to provide pertinent information as outlined above.

The St. Lucie Appraisal Company
P.O. Box 2700
Fort Pierce, FL 34954
Phone: (772) 359-4300
Fax: (772) 466-8400
Email: contact@stlucieappraisal.net

Service throughout Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming

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