08-15-2024, 07:09 AM
I can see your point about selling it in the future...
On the other hand,, several years ago when we were shopping for house on Oahu,, every property we looked at had un-permtted additions or structures.
The listings all said, " square footage does not match county records"
It did not lower the price the sellers were getting. and people were still paying over asking price.
What it did effect was apprasied value. The appraiser would not count the square footge of unpermited spaces.
So for example if the listing said 1200 sq ft,, but they were counting the converted car port as part of the total house sq footage.the appraiser would
say there is only an 800 sq ft house and base the value on that.
If the appraised value came in lower than asking price, the buyer had to make up the difference in cash because the bank would only loan to the appraised value.
That is differnt sitution than the entire house not being permitted. But it shows there is a lot of unpermitted stuff in Hawaii that still sells.
On the other hand,, several years ago when we were shopping for house on Oahu,, every property we looked at had un-permtted additions or structures.
The listings all said, " square footage does not match county records"
It did not lower the price the sellers were getting. and people were still paying over asking price.
What it did effect was apprasied value. The appraiser would not count the square footge of unpermited spaces.
So for example if the listing said 1200 sq ft,, but they were counting the converted car port as part of the total house sq footage.the appraiser would
say there is only an 800 sq ft house and base the value on that.
If the appraised value came in lower than asking price, the buyer had to make up the difference in cash because the bank would only loan to the appraised value.
That is differnt sitution than the entire house not being permitted. But it shows there is a lot of unpermitted stuff in Hawaii that still sells.