Unpermitted Housing in Puna?

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Originally posted by KathyH


As for a totally unpermitted structure, I don't think one can get a mortgage on it at all.

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That's what I was told, by my realtor. If it appraises for the loan amount without including the non-permitted portion, getting a loan is not a problem. No permits at all, loan on land value only. The house we didn't get appraised shockingly low. The owner decided to get the permits, but wanted us to pay more if he did that. Now it is back on the market, with permits for 20k less than when we had our offer in. I bet he wishes he had stuck with us, before we realized how bad our market was here. I could have been paying two mortgages all this time. Lucky for me, I guess.

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