I need an appraiser for my park in Texas. Does anyone have comments on using a commercial appraiser or is there someone special for MH parks
I assume this is for estate reasons…? If it is to obtain bank financing, DODD-FRANK and/or the SAFE ACT prohibit you from securing your own appraisal - or even contacting appraisers on behalf of your bank. Your banker must make the contact and do the hire.So if it is indeed appropriate for you to be contacting appraisers, then if I were you, I’d contact the Texas Manufactured Housing Association (www.texasmha.com) and ask them for an appraiser active in your corner of TX. Ask the TMHA if they know which appraisers have a bias toward over- or under-valuing a property depending on what you want. Remember, the professional designation after all their names is ‘MAI.’ It stands for ‘Made As Instructed.’;))Good luck,-jl-
Very funny Jefferson But truth be told the banks won’t accept an appraisal that they don’t order themselves. If you are estate planning have an accountant or attorney order the appraisal, holds more weight with the IRS.
I was advised by my CPA to get an appraisal. I have a friend that is a bank pres. and he gave me some names but said that banks can no longer order appraisals according to new banking rules.
I don’t think the information you were told is accurate. Banks can certainly still order appraisals. Some are required to have someone other than the loan officer involved order the appraisal, some banks hire separate companies for ordering and reviewing (AMC’s), and some banks the loan officer still orders the appraisal. What is the reason your CPA told you to get an appraisal?