It is unusual for the stakeholders – buyers, real estate agents, builders, and lenders – to estimate the price of their worth in manufactured housing. However, to estimate the value of a used manufactured home, anyone can get the National Automobiles Dealers Association (NADA) value report for a set price. In fact, NADA provides two types of report, namely the professional report and the basic report.
There are some differences in both types of report. The basic report is supposedly for an average buyer and contains rectangular floor plans and other home features. So if you want to know the value of a mobile home having a non-rectangular floor plan, you would need the professional report. As the names suggest, the professional NADA report is generally more detailed than an average buyer may imagine.
In fact, similar to finding the ‘book value’ of an automobile, NADA derives the estimate ‘book value’ of a mobile home too. Assuming that the factory-built modules in manufactured housing is tested by an inspector, the NADA assigned estimate value helps to calculate the price of both new and old manufactured homes for sale.
As you may know, the National Automobiles Dealers Association licenses the vehicle and the mobile homes in America. Further, the organization also provides a sample report that is a trimmed version of either the basic report or the professional report. The reports are in a way purchase guidelines for a stakeholder involved in manufactured housing. However, you need to check the sample to ensure that the one you are looking for contains the relevant information you require.
To get the report, login to the NADA site, tap on the ‘Manufactured Homes’ page and click on ‘Get a Used Value’. You can get the report printed from the site or e-mail the report to your e-mail ID.
You need to appraise the mobile home value via a licensed home inspector, and you can do that quite comfortably as well. In fact, a small research through the dealers in your region would help find a licensed home inspector. NADA also provides special courses in this and accredits the inspection license to qualified appraisers.
Once you find the home inspector’s estimate, you could club the same with the NADA report to derive the accurate price of a new or old manufactured home for sale.