Buying or Selling a Home/room with not permit

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Expert: - 10/3/2009


Question
I'm in proses of selling my home but the title com. just findout that in 1995 the county find out that my husbend was making a room with not permit....he passoway two years ogo.. i WAS NO AWERE OF THAT I MEET HIM A FUW MONTHS AFTER.. BUT I DONT KNOW WHAT TO DO BUYERS ARE WITING.. FOR ANSERS..

Answer
Hi Doris,

I would hope that you have an agent your are working with that is representing you? If not you may wish to hire someone to assist in all the legal aspects of the disclosure and transaction.

The fact that the room is not permitted, may or may not be an issue... I sell a lot of older homes in town that have un-permitted parts.  Now this could cause issue with the 'value' the 'loan - type allowed' the 'appraised value'

Each of these could be a concern or issue the different entinities...
the "Value" is with the buyer, do they see that what they bought is still worth it to them even though the bedroom is not permitted... will the Lender be ok with the unpermitted section of the house? Some loans this may not work with... and on the appraiser... do they give monetary dollar value to the unpermitted space? say a bedroom is worth $40,000 in your neighborhood, the unpermitted room may be only worth $2,000... But no matter you need to disclose and let the buyer know that you now know the room is not permitted and hopefully the property price reflects that fact.

I hope that has helped you on this issue...Good luck

Buying or Selling a Home

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Connie Wildasinn-Broker,GRI,RealtorŪ

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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!

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