Apraisials

[Riley Smith]

I purchased a lot with the intent to place a manufactured home on it. I picked out the model and the colors and eveything else, but the bank says that it will not apraise at or above what is needed. The Cavco salesman said to wait a couple weeks the banker says to get Cavco to lower the price. Which one is right and can you advise me on what to do? The lot is in Apache Junction (Pinal County)

[rmurray]

How much short was the appraised value...Of course there is a third option you have not listed...You can increase your down payment to cover the difference...

What does your sales person say will happen in a couple of weeks that will change the situation?????...If the appraisal is close he might well be able to help with a price reduction...If you missed by tens of thousands he probably will not be able to do this..You might have to give up some upgrades and/or property improvements to help keep the figures inside the appraisers line of thinking...Often another appraiser might see the value different..Appraising is more of an art..not a science...

Your dealer should be in touch with you lender and the appraiser about a solution...Nothing will change in a couple of weeks except you could well get caught up in a rate increase...Time is Money...No reason to wait..

[rmurray]

Your bank could lower the closing cost...much better than them telling a builder how much too charge...Did they offer to lower their fees?????

[Riley Smith]

Thanks for the help!! I already put up 10,000.00 for the lot it's about 2 grand. No the didn't lower the closing fees. The salesman wants to wait to see if more homes were Titled to match the price I'm paying, he said the city is behind on getting the titles out!

[rmurray]

Of course he could go there and find if there are any unfiled comps for the appraiser to use..The appraiser could use them any way.....Seems like they all would cooperate and help you get what you need....If your are only 2K appart both the bank and the dealer should be able to help you even if you have to give up an upgrade...Get them to move forward soon...Remember time is money...

[James]

You may try calling a reputable Lender that specializes in Manufactured Housing and get the real scoop! check out AHMCdirect.com. Best of luck!

[tina]

what is a 1986 franklin 14x70 cedar sided mobile home valued at? will anyone loan to purchase land to move it with title to home as collateral? help. email me [email protected] or call 417-569-0348