Appraisal / Deciding value

[MAC Racing]

I am Looking to purchase a toter home and have found one I am interested in. However I am having a little trouble with the bank. They have no problem with a toter home and understand its not the same as a motor home but are having a problem determining a value. They would like a third party appraisal from a manufacturer or dealer to help determine the basic value. I really don't know if appraisal is the correct word because that sounds too formal but an opinion from a third party. Does anyone know of a service like this or anyone willing to provide this.

Thanks
MAC

 

[Guest]

What about contacting the manufacturer and see if they have any suggestions. They might be willing to send a letter giving their estimate on a used unit of that year and model.

 

[MAC Racing]

Thanks for the reply. Unfortunately, it was not built by a current manufacturer, it was custom made and was rebuilt in 2000 by the current owner.
The owner and I have our opinion on its value but the bank would like some outside confirmation to help support the value.
Thanks again
MAC

 

[onezman]

There are no blue book values for any type of conversion as far as I know. The value is subjective. That makes it tough to finance any type of conversion. Good luck

onezman

 

[MAC Racing]

Really the bank is being cool about the loan but without a blue book they are looking for a third party way to verify the loan amount. I have shown them ads for new and used units and their price but they don't know one from the other or what makes some more valuable than the next. So they want someone who has some knowledge in the field to look at the vehicle and give them an opinion that this vehicle is comparable to and should be worth the asking price given its set up etc.
If anyone is able to do this or knows someone willing please let me know

 

[vapoppa]

hey, mase sanford---- couple of questions? not getting into the actual value of the unit, is there any way that the cost of the unit can be broken down--- the cost of the truck-- the cost of the improvements--- the cost of the "home"--- . i really don't know but maybe "coeboy cadillac" or heath sagon at sagon motors in south atlanta ga. could be of somekinda-maybe sorta- help. if you want call me at 540-672-4342 and we can brainstone on this----- mase

 

[MAC Racing]

The bank has called Cowboy cadillac to see if they will give an opinion. What you are talking about as far as adding up the details of the truck to help them understand the value would be helpful. I am going to talk to the bank tomorrow morning.
Thanks.
MAC

 

[vapoppa]

mac, sorry i didn't get back to you earlier--- take the used retail truck value add any improvements made to the truck-- addd the value of the sleeper or home. ---- hope this helps, mase

 

[MAC Racing]

Just a follow up. The bank took an appraisal from a large truck dealer and a RV dealer on the condition and value. So I was able to purchace the motorhome conversion.

Thanks for the input
MAC