You are here:
- Home
- Real Estate
- Home Buying/Selling
- Buying or Selling a Home
- Permitting issues and price of home
Buying or Selling a Home/Permitting issues and price of home
Advertisement
Question
I live in San Diego recently I tried to purchase a property after being in escrow I discovered that the house had 782sq feet unpermitted out of 1963 sq feet home. It is listed as a 5 bedroom 3 bathroom property but only 2 bedroom and 2 bathroom are permitted according to city hall's records.
The seller is bought the property as a forclose and is selling the property as is. I told the sellers that it was not permitted, hired an expert that assits in permiting properties to city code who also informed them it would cost between 32k-52k to get the hope up to code.
Since then they have put the home back on the market "as is". They are saying for the buyer to verify all permits and still trying to sell it as a 5 bedroom 3 bathroom. My question is "is this legal" To me it seems it is a known very serious material condition that should be disclosed. Am I wrong?
Hi James,
To answer your question is what the current seller advertising 'legal' ... Yes... the property is a 5 bedroom 3 bathroom, he is telling buyers to verify all city permits... at their expenses and making it their issue if they have one... and he says 'as is' ... Is this a material fact to the purchase... Yes... do all buyers care? No... much would depend on the price, how much is would really take a buyer who 'had to have it permitted' brought back to code.. etc... this is not a one size fits all answer...
There are always a lot over variables in real estate, and what may be of issue to you may not be of issue to someone else... and as I always say if the price is right! Well do the math...
On the same hand the material fact that the home has 782' of unpermitted build out... depending on the loan type, some lenders will give no value to those parts of the home... now he has to work with an appraisal of a 2/2 at about 1200', different animal... different value... if he gets all cash, no one cares but the principles at hand...
I hope this helps you understand conforming to non-conforming property
Related Articles
- Determine the Listing Price - Real Estate Investing
- Proof Your Ads for Accuracy - Being a Real Estate Agent
- Foreclosure Listings - Sellers Who Know The Score Can Compete Against Foreclosure Listings
- Toxic Mold Issues for Home Buyers and Sellers
- Helping Your Sellers Make It to Closing - Being a Real Estate Agent
Answers by Expert:
- Dick Dennis
- Jessica Bryan
- liznarr
- Hans Weber, Licensed Broker Associate
- Sue Bernstein
- Karyn Foley
- Dottie Worthington
- Jim Root
- Russel Ray
- Connie Wildasinn-Broker,GRI,RealtorŪ
- Todd C. Menard
- Diann Tonnesen
- John Hendricks
- Jay Denit
- Matt Heisler
- Lisa Webber
- John
- Laurie Stephenson
- Marvin G. Bobbitt, III
- Nori J. Muster
- Sharon Huneycutt, Realtor, Associate Broker, GRI, e-PRO
- CJ Brasiel
- Jeff Kessler
- Kathryn Hisert
- Emily
- Ted Lewis
- Kerrin Kostelic, FL Broker Associate, GRI, AHWD
- Tim Norris
Connie Wildasinn-Broker,GRI,RealtorŪ
Expertise
Broker,GRI,RealtorŪ, Investor since 1979. Buying or Selling Residential and Income/Investment Properties, How to understand the process, how to negotiate through the transaction, What to Look for - But more importantly 'What to lookout for!', How to tell if the time is right - or hold on and wait. Why not to listen to your friends and even your family members, Who really has your best interest at heart?. Understand why any market is a good market and how to spot a good investment for you! If you are looking in California.. check out my website www.MetroCalBrokers.com and if you need assistance in a neighborhood I don't service, I will locate a local agent to that area who actually knows their profession and can assist you in your needs!
Experience
4th generation Realtor in the real estate business, I have helped for over 2 decades clients buy and sell, I am the owner of a local brokerage in the Los Angeles /Long Beach area, and have been a top producing agent in the area since I became licensed. Working through a deal is different to every client, no two people or deals are exactly the same. Knowing how to bring professional advise to the table with clear and concise understanding of real estate world. I can help you handle your buying, selling and investing, managing a 1031 Exchange, working with Equity Sales, Probate, Pre-Foreclosure Regular and Short Sales there is little that I have not seen come across my desk over the decades!
Organizations
NAR,
CAR,
WCR,
ABR,
e-Pro,
GRI,
BKBIA,
CHNA,SSG
Publications
Broker Agent Magazine
Long Beach Business Journal
Long Beach Press Telegram
Signal Hill Tribune
Grunion Gazette
All Experts
Zillow - Lead Agent - Advise Expert
Truila - Advise Expert
Education/Credentials
Broker-owner,
RealtorŪ,
GRI,e-Pro,
SSG-Short Sale Certified
Awards and Honors
Managing Broker for MetroCal Brokers. We merged my old brokerage with MetroCal this year, and we look forward to expansion and growth moving forward. We currently employ 30 Realtors and growing.
15 years running top selling agent in Long Beach, South Bay area California.
Top Producer 5 years straight Re/Max, C21, Realtyworld.
Past/Present Clients
upon request = or check out our website www.MetroCalBrokers.com and check the Testimonials section!
©2012 About.com, a part of The New York Times Company. All rights reserved.