The Manufactured Housing Forums

Hello, I'm in escrow on a Fuqua Lodge (Appalachian model) triple wide manufactured home in Washington state (39' X 44'). The house was appraised at $143K. This number is in-line with what two Fuqua dealers quoted as a replacement value for the home including its many upgrades. The problem is that Foremost is only willing to underwrite the house for $70K. Due to the fact that the home will be under insured, the mortgage company will not finance the purchase. Foremost is using the NADA Guide to assess the value of the home, but this dollar amount doesn't match up with the appraisal nor the dealer quotes on the home. How can I get coverage for the proper value of the home? Or, are the dealers quoting me much more than the true value of the house? Thanks in advance, David

Are you paying $143k for the home?
If not, then it's replacement cost isn't $143k, is it..

Try some other insurance companies for quotes, ask for the contact info on other buyers of that model home, and then call and ask who they used for insurance.

Believe it or not, insurance companies have a pretty good idea of what it costs to rebuild based on what they've had to pay out in the past.