07-23-2006, 05:38 AM
Aloha, Macuu. My understanding is that a buyer would be able to get financing, but the lender would technically be expected to base the loan on an appraised value WITHOUT the unpermitted portion. Given the way lenders have been known to stretch things, especially in a slowing market, having one room unpermitted in a house that size might not be a significant issue.
I believe that "after the fact" permits, (without the proposed changes) in the regs are double the normal cost.
Perhaps one of the real estate pros on the forum can let us know if my assumptions are correct.
Cheers,
Jerry
I believe that "after the fact" permits, (without the proposed changes) in the regs are double the normal cost.
Perhaps one of the real estate pros on the forum can let us know if my assumptions are correct.
Cheers,
Jerry