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Buying or Selling a Home/House with One-less bedroom

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Expert: - 11/7/2010


Question
Hello Connie,

I am making an offer on a house that the MLS ad lists for 3 bedrooms but in reality has only 2 bedrooms.  Apparently the seller joined 2 bedrooms together to make the master bedroom larger.  The strange thing is, the disclosure statement does not list any such work at all.  Should I be concerned with the fact the house is listed for 3 bedrooms and the house only has 2 bedrooms and that the work was not listed on the disclosure statement?  I'm curious if this should impact my offer price (by asking less than the list price) and if down the road, would there be any legal issues I could be dealing with if I were to purchase this property?  Any advice you could provide me I would highly appreciate.

Thanks kindly in advance, Mark.  

Answer
Hi Mark,

The list price should take into consideration that fact that the property is in realty a 2 bedroom home.  Typical a 2 bedroom will not 'fetch' the price a 3 bedroom will, more amenity/value in 3 bedrooms, and easier to sell later on.

The fact that the disclosure doesn't list this fact could be because the current seller bought the house with only 2 bedrooms and did not do the work themselves... If this is a concern, ask (or have your agent ask) if they did the work or know anything about the conversion.

The legal issue down the road is always how the conversion may have been done... it is better that the number of beds was reduced you can add back the missing wall and door and now have a 3 bedroom, you will want to be sure to have a good contractor who can put the parts back together to code so that you have no issue with your sale.

Keep in mind if the house works for you... and the price is in line to the square footage/bed/ba count all line up .... go for it...

Good luck...

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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!

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