MHP appraiser

Looking for a valuation of a mobile home park in Chester County, PA Be grateful for some contacts

  1. Contact the Pennsylvania Manufactured Housing Association (http://www.pmha.org) and ask them for referrals.

  2. Contact a few local banks and ask which appraisers they use (especially if you know they hold the mortgage on another MHP in the area).

It’ll be very difficult to find appraisers that specialize in mobile home parks (other than John Neet who does 50% of the appraisals in the states west of the Rockies). You’ll need to coach the appraiser through the process. Take time to explain the difference between land-related expenses and house-related expenses. Make it easy on the appraiser by providing a clean P&L for the land only (no park-owned home-related revenues or expenses). I’ve found you can ‘massage’ the results 15% either way if you get involved in the process.

Your mileage may vary,

-Jefferson-

So- here is a resource for you. A bit of background though. there are sort of two ‘levels’ of appraisers. One is a home (residence) appraiser, and the other is someone that has really studied appraisal and does the really detailed appraisal type work. They have a designation called- MAI

They specialize, like doctors do. So you can look them up by discipline- even mobile home parks.

They do NOT give away their work, but they are well worth the reports they generate.

Appraisal Institute is the common name-

here is the link-

http://www.appraisalinstitute.org/