Appraising manufactured homes can be a daunting and seemingly complex task. In actuality, it is not that dissimilar from a site built house.
The appraiser must be able to recognize the needs of factory built housing and account for it accordingly. True, comparables may be a bit more difficult to find, but assessing quality of build, depreciation, and other key factors will be similar to site built housing assuming the appraiser is familiar with the unique features of a manufactured home. The most difficult part for some may even be the reconciliation between the market approach and cost approach; which is a requirement for most manufactured home appraisals.
So what are some of the key items that the appraiser needs to know for an appraisal that differs from a site built home?
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