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Updated about 6 years ago on . Most recent reply

User Stats

83
Posts
25
Votes
Matt Kauffman
  • Rental Property Investor
  • North Canton, OH
25
Votes |
83
Posts

How do MHP appraisals work?

Matt Kauffman
  • Rental Property Investor
  • North Canton, OH
Posted

Hey BP gang, how do you deal with a MHP appraisal? I just got a quote from the bank on two different appraisers for $2200 and $4400. Since the parks evaluate on an income basis, how is an appraiser going to figure out value if he doesn't have any financials that I'm aware of. I suppose he could request them, but I doubt they'll do the kind of work I'll do on the project to figure out value. Just wondering as that's a decent sized check to write for an appraisal. 

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