Banks and lenders also use experienced Home appraisers and Blue Books to thoroughly appraise them at fair market value.If they're placed on a foundation on a resident owned lot or parcel and certified by an engineer and they're permanently installed on the situs they are no longer considered "CHATTEL" and therefor run with the land in a sales transaction.

Don't purchase anything older than a home built from June 15,, 1976 or before and even then be very careful about investing in any MH built in even the late 70's as many used a number of caustic (formaldehyde) and carcinogenic (asbestos) chemicals and substances until the laws changed in '79-'80.Additionally, if the home has ever been moved from it's original situs (one site to another except from the manufacturers and/or dealers retail lot) as conventional financing would be very difficult to come by.

@Patrick BrittonTook me 7 business days to get a vom while shellpoint fci or even situs can send it back same day...Each company has their strengths and weaknesses.

When viewing the information on the property, look for a "mailing address" that is different from the actual property, or "situs", address.

Even if it is outsourced to a group like Situs, the costs are still too high to achieve profitability on a 5% fee for deals under $2MM in size.This is precisely why I believe Fundrise dropped out of the crowdfunding game and decided to focus on their e-REIT.  

Property id is 0944-15-0220, the situs address is shown as Gainsboro St., North Port FL and looking from the street (on Google Maps or Google Earth), is the block to the right hand side of 5545 Gainsboro St.

If you don't get the situs address of property location it just may not have one.  

NguyenSellerDsla Trust 2007-Ar1MortgageRecording Date02/07/2011Cash PurchaseYesDocument Number112989Previous Ownership (01/24/2011)Date First Seen As Owner01/24/2011Document Number112989Sale Amount$61,000Sale Date01/24/2011Recording Date02/07/2011Absentee IndicatorAbsentee(Mail And Situs Not =)Universal Land UseSingle Family ResidenceProperty IndicatorSingle Family ResidenceResidential Model IndicatorProperty is ResidentialTitle CompanyGREAT AMERICAN TITLEOwnerCoyen One LlcSellerDsla Trust 2007-Ar1Previous Ownership (06/21/2010)Date First Seen As Owner06/21/2010Document Number534760Sale Amount$98,000Sale Date06/21/2010Recording Date06/23/2010Ownership RightsCorporate TrustAbsentee IndicatorSitus Address Taken From Sales Transaction - Determined Absentee OwnerDeed Securities CategoryResale, Reo Transfer, Cash Purchase, Residential (Modeled)Universal Land UseSingle Family ResidenceProperty IndicatorSingle Family Residence/TownhouseResale New ConstructionResaleResidential Model IndicatorBased On Zip Code and Value Property is ResidentialTitle CompanyOTHEROwnerDsla Trust Series 2007-Ar1SellerChristopher R.

Once you get the database on a CD then compare the mailing addresses to the situs addresses.

During a pre-licensing course years ago up in the Chicago area, the teacher told us if we get licensed and then come down to the rural part of the state, the locals would "sit us down and have a talk" because these types of properties are valued so much differently.I curious about how farmland is valued, is it based on the crop income from previous years?