BPOs on Manufactured and Mobile Homes

Manufactured and mobile homes show up in BPO work more often than many new agents expect, especially in rural and fringe areas. They are not hard to value, but they do need the right comparisons.

Land owned or land leased?

This is the biggest question. A manufactured home on its own lot sells very differently from one in a park where the owner rents the land. If the order or public records do not make it clear, say so in your comments rather than assuming.

Foundation and permanence

From the exterior, note what you can see: a permanent foundation, skirting, visible axles or tie-downs. Homes on permanent foundations are often treated more like conventional real estate by buyers and lenders.

Pick comparable comps

• Compare manufactured homes with manufactured homes wherever possible.
• Match land situation: owned lot with owned lot, park with park.
• Match age range and single-wide versus multi-section.
• Widen the area or time frame before mixing in site-built homes, and explain why.

Photograph additions and condition

Porches, carports, sheds and add-on rooms are common. Photograph them and note their apparent condition. Roof and skirting condition are worth a close look because they often show age first.

Be honest about limited data

In some areas there are very few recent sales of similar homes. That is normal. Use the best data available, state your reasoning, and avoid stretching a site-built sale to fill a gap.

Questions to answer in your comments

• Is the land owned with the home, or leased in a community?
• What foundation type could you see from the exterior?
• Are your comps the same type, and if not, why did you use them?
• Did you widen the search area or time frame, and how far?

Answering these four questions up front heads off most reviewer follow-ups on manufactured-home orders.

Related: how to handle a BPO on a rural property.