Lots of reading but still not sure about...

[tabitha]

Since I posted here last I went online and bought "How To Buy A Manufactured Home And Save Thousands Of Dollars" & I went to the library and got "A Complete Buyers Guide to Manufactured Homes and Land". It sure was alot of reading. I did learn alot. Now I have to decide which manufacture makes a home I like. I have looked at many and ask all of those important questions. I did find a Fairmont I liked but they use the clips to hold the outlets in. THAT'S a big NO! NO! So I will keep looking around. I am working with a lender that a salesman set us up with but, I am not sure about a few things. He is the president of a Financial Solutions Group. He told us that since we are doing construction for a basement that we would be charged every time something new was done to the site because he would have to come out and reappraise the site. I don't know if that sounds right to me. Any ideas???

[MH Appraiser Lady]

Are you going FHA or conventional? Here's how it usually goes on a proposed construction deal. If I (the appraiser) get the order from the lender before the construction is complete on the house I treat it as proposed; that is I write an appraisal of what the house will be worth when it is finished according to the plans & specs. Then I make the appraisal contingent on the home being completed and passing a final inspection. On FHA loans the final inspection is performed by an FHA inspector, and on conventional loans it's performed by the original appraiser. So here's the deal: as long as the lender has COMPLETE plans & specs on the home and all proposed site improvements BEFORE you break ground on the project you should only be charged for the inital appraisal (going rate here is $500) and a final inspection (usually a nominal charge if any). Keep in mind that if you decide halfway through the project that you want to change or add something the property may have to be reappraised. Another option that depends on your loan type and specific situation, is for the lender to wait to order the appraisal until the home is 100% complete. Then, you would only get charged once. This may not be an option, but it's worth asking about. Hope that helps!

[rmurray]

Many construction loans.have inspection fees at each draw level..These are usually done by the appraiser..feesare included in the closing costs.and are fairly low...Total of abou $300 per loan is common..Finish reading..Informed buyers like you are the happiest in the long run..Good Luck..