additions
19) Garage Addition Permit
12/10/06
Dear Henry,
Does an addition or converted garage have to be "permitted" to add value to the total property?
Chris Spiess chris.spiess@inhouseapps.com
Dear Chris,
Millions of home improvements are made every year without a permit. I would guess more are made without one than with one. I don't think it is incumbent for an appraiser to determine if normal improvements have been made with or without a permit, unless you think there may be some future problem.
However, once you become aware of work that was done without a permit, I think you must disclose this in the appraisal. Since the definition of Market Value assumes that everyone is knowledgeable, you need to decide if a knowledgeable buyer would want a discount due to an outbuilding which was added or converted without a permit.
H2
Does an addition or converted garage have to be "permitted" to add value to the total property?
Chris Spiess chris.spiess@inhouseapps.com
Dear Chris,
Millions of home improvements are made every year without a permit. I would guess more are made without one than with one. I don't think it is incumbent for an appraiser to determine if normal improvements have been made with or without a permit, unless you think there may be some future problem.
However, once you become aware of work that was done without a permit, I think you must disclose this in the appraisal. Since the definition of Market Value assumes that everyone is knowledgeable, you need to decide if a knowledgeable buyer would want a discount due to an outbuilding which was added or converted without a permit.
H2