01-03-2013, 03:29 PM
When we were less educated on Puna real estate we put an offer in on a home that had an unpermitted addition. We were told this (pasted from an email)
"All unpermitted improvements MUST be built in a workmanlike manner, conform to the dwelling, common for the area and pose no health or safety issues. The appraiser has to stipulate this in the report."
If the appraiser does not stipulate, the lender will not loan. Even if the appraiser does stipulate, some lenders still will not loan. If the general contractor is already being brought into the discussion, it probably means that the lender has already said no, unless the GC signs off. The GC won't sign off unless they can "guarantee" the work. They may be willing to do this if they think the work is sound, or they might come in and say they will sign off after they complete a bunch of work that they are paid for.
"All unpermitted improvements MUST be built in a workmanlike manner, conform to the dwelling, common for the area and pose no health or safety issues. The appraiser has to stipulate this in the report."
If the appraiser does not stipulate, the lender will not loan. Even if the appraiser does stipulate, some lenders still will not loan. If the general contractor is already being brought into the discussion, it probably means that the lender has already said no, unless the GC signs off. The GC won't sign off unless they can "guarantee" the work. They may be willing to do this if they think the work is sound, or they might come in and say they will sign off after they complete a bunch of work that they are paid for.