Buying or Selling a Home/Finished Basement?

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Expert: - 11/17/2006


Question
What are the requirements for a basement to be called a finished basement.  The current description of my basement is partially finished.  It is a walk out basement with concrete block walls that are painted.  No ceiling tiles.  It does have a finished bathroom and poured lacquer type floor and fireplace.  Do I need to add a ceiling to meet the requirements of a finished basement?  Do I need to add drywall over the concrete block wall?  I can't seem to find the answer to this question anywhere.  Thanks for you help.

Answer
Dear Andy;
A finished basement requires fully closed in spaces--no exposed areas.  That means the ceiling needs to be in.  It also needs heating and (if the rest of the home has it) air conditioning.  Is there insulation?  If not, then it probably doesn't meet the building code standards for heated space.  Dry wall over insulation which is over the block wall will complete the finish.  In short, the finished basement needs to be the same as the rest of the house and not just additional work or play space.
Sincerely,
Jessica Bryan

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Jessica Bryan

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buying and selling process such as:
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How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
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What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.

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Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.

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