I have a doublewide mfg home on 30 acres in holtville, ca...loan officer has to submit comps for processing and we can't find any. Ideas?

Asked by Researchnut, Holtville, CA Thu Apr 7, 2011

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Mona Goyal, Agent, Imperial, CA
Thu Apr 7, 2011
Hello Researchnut
Thank you for posting your ques. on Trulia.com.
I can try looking for some comps in Holtville and help you out.
Please contact me with information on your mfg home so I can pull the profile and look for comps.
My contact info. is below.
Thank you and Good luck

Mona Goyal
Broker-Associate
Seven Six O' Real Estate
1275 West State St,
El Centro CA 92243
Cell:760-554-1318
E-fax:760-821-6824
Email-monagoyal24@yahoo.com
Dre # 01370527
760team.com
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Carl Henker, , 95928
Thu Apr 7, 2011
With out comps your appraiser will have a difficult time meeting appraisal guidelines which require 2 similar property comps no more than 90 days old. Before you have the appraisal done have your agent ask the under writer if there is a solution when no comps are available. I do agree value may be established in a number of ways but in order to have a saleable loan comps are needed. You may have to wait for some sales. Not what you wanted to hear but what we are faced with in our current mortgage process.
0 votes
Mitch Larriv…, , Orlando, FL
Thu Apr 7, 2011
Great question.

The comparable method is only one of a few different ways of deciding fair market value. Talk to your loan officer and see if they will accept a different method (for example: appraisal)

Best of luck!
Web Reference:  http://www.MitchLarrivee.com
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