How Do You Appraise A Used Mobile Home?

0
Posted

How Do You Appraise A Used Mobile Home?

0

The appraisal of mobile homes, or “manufactured homes,” as they are properly known, presents unique considerations for valuation. Before beginning an appraisal of a mobile or manufactured home, you must first determine whether the structure is considered, by legal definition, personal property or real property. Mobile homes are manufactured with axles, wheels and tongues for transport of the structures. In order to be considered real property, the mobile home must be permanently affixed to a parcel of real estate. Part of the process for permanently affixing the manufactured home to the property includes removal of the axles, wheels and tongues, along with surrender of the title for the home as it becomes part of the real estate parcel. Identify the make, model and year of the manufactured home. Mobile or manufactured home units constructed after June 15, 1976, will have a red metal Housing and Urban Development (HUD) label containing this information. Contact nearby manufactured home

Related Questions