13 Ch6 Manufactured Home Appraisal Form

Question 1

The 1004C form asks for the ________ name and the ________ name, from the data plate.

Answer 1

manufacturer’s, model

Question 2

Which of the following sections is completely identical in both form 1004C and the standard 1004?

Answer 2

Neighborhood section

Question 3

Form 1004C is used to report an appraisal on

Answer 3

one-unit manufactured homes

Question 4

What entity created the 1007 and 1007MH forms?

Answer 4

Marshall & Swift

Question 5

Form 1004C is used to report an appraisal on

Answer 5

one-unit manufactured homes

Question 6

On a manufactured home, the HUD label can be found

Answer 6

on the exterior of the home

Question 7

N.A.D.A.’s book value includes an allowance for shipping up to ____ miles.

Answer 7

300

Question 8

Who produces average retail book values for manufactured homes?

Answer 8

N.A.D.A.

Question 9

When using the N.A.D.A. Guide to get the cost of the manufactured home you only need to add in the ___________.

Answer 9

site value

Question 10

The N.A.D.A. guide produces a ________________ cost specific to the subject’s model, size, year built, and manufacturer.

Answer 10

depreciated replacement

Question 11

Which of the following is pre-determined by N.A.D.A. according to the track history of the model and manufacturer?

Answer 11

quality level

Question 12

Fannie Mae says It is important to note that N.A.D.A. chart values assume the home is in _________ condition.

Answer 12

average

Question 13

Which section in the 1004C form does not appear on the standard 1004 form?

Answer 13

HUD Data Plate section

Question 14

Form 1004C is almost identical to which of the following?

Answer 14

URAR form

Question 15

Fannie Mae and Freddie Mac say that the appraiser must rate the quality level of the manufactured home based on objective criteria of a published cost service; they specifically mention ___________.

Answer 15

Marshall & Swift and the N.A.D.A. Guide

Question 16

The 1004C form asks the appraiser to provide the location of the

Answer 16

data plate

Question 17

Fannie Mae and Freddie Mac say that the appraiser must rate the quality level of the manufactured home based on

Answer 17

a cost service

Question 18

Fannie Mae and Freddie Mac say that the appraiser must rate the quality level of the manufactured home based on objective criteria of a published cost service; which of the following guides can they use?

Answer 18

Marshall & Swift and N.A.D.A.

Question 19

In the site value section of the cost approach on the 1004C form, the comparable sales should be analyzed according to some pertinent unit of comparison. The form specifically mentions price per:

Answer 19

Square foot or acre

Question 20

In the site value section of the cost approach on the 1004C form, you are asked for support for the opinion of site value by citing __________ comparable site sales.

Answer 20

At least three

Question 21

The HUD Certification label is made of ___________ and is located on the ___________ of a manufactured home.

Answer 21

Metal, Exterior

Question 22

When appraising a manufactured home situated in a condominium project for Fannie Mae, which appraisal formed should be used?

Answer 22

The 1004C and the Condo form 1073

Question 23

An attached section to a manufactured house, that is the same in both structure and quality to the section to which it is attached, but not necessarily the same length, is called a

Answer 23

Tagalong

Question 24

When using the N.A.D.A. Guide for a cost figure on a manufactured home, which of these would be included in the cost figure?

Answer 24

depreciation

Question 25

How does the Residential Estimator 7 apply the current and local multiplier of the subject property?

Answer 25

the zip code of the property

Question 26

N.A.D.A. has cost figures for __________ homes.

Answer 26

manufactured homes

Question 27

The ____________ section of the 1004C form is identical to that in the URAR except for the part which asks for the Retailer’s Name (New Construction).

Answer 27

Contract

Question 28

The HUD Data Plate is made of ___________ and is located on the ___________ of a manufactured home.

Answer 28

Paper, interior

Question 29

The Residential Estimator 7 program is offered by:

Answer 29

Marshall & Swift

Question 30

For Fannie Mae, an appraisal of a single unit manufactured home in a cooperative project is to be reported using the ___________ form.

Answer 30

manufactured home

Question 31

In a manufactured home, the HUD data plate is

Answer 31

affixed inside the home when it leaves the factory

Question 32

The 1004C form says that, in the cost approach, the appraiser must provide adequate information for the lender/client to ______________ your cost figures.

Answer 32

replicate

Question 33

Form 1004C will be used to report appraisals of

Answer 33

one-unit manufactured homes

Question 34

From whom would you purchase the Residential Cost Handbook?

Answer 34

Marshall & Swift

Question 35

How are quality levels chosen when using the Marshall & Swift Residential Cost Handbook to develop a cost of a manufactured home?

Answer 35

photos and basic descriptions

Question 36

Which of the following construction types does the Marshall & Swift Residential Cost Handbook cover?

Answer 36

site built, manufactured, and multi-family housing

Question 37

In a manufactured home, the HUD data plate is

Answer 37

affixed inside the home when it leaves the factory

Question 38

For Fannie Mae, appraisals of manufactured homes in a condominium project are to be reported on the ____________ form and modular homes are to be reported using the ________ form.

Answer 38

manufactured home, URAR

Question 39

N.A.D.A. primarily deals with:

Answer 39

cars and trucks