MHP Appraisal for Bank Loan
We are under contract for a 33 lot MHP with a financing contingency. This will be our first park. The bank says they will loan on either the purchase price or the appraisal price - whichever is lowest. We will be putting 20% down and financing the rest of the park. Does anyone have any tips for the park appraisal? My understanding is that we cannot pick the appraiser. Is there anything we can do to make sure the appraisal is favorable? Can we provide comps for recent park sales? Does anyone suggest having the owner meet the appraiser on site? Any other tips? Thanks in advance!