Selling a home with unpermitted work can be daunting, but understanding and addressing issues can help. Homeowners must disclose known unpermitted work to buyers, as hiding it is illegal. Lenders may hesitate due to potential liabilities, thus affecting buyers' financing options. Appraisers may exclude unpermitted areas from valuation, which can reduce the home's perceived value. Insurance coverage may not extend to damages related to unpermitted work. Homeowners should assess their situation, checking local permit records and obtaining evaluations from licensed contractors and home inspectors to facilitate the selling process responsibly.
Before you do anything, take stock of your situation in its entirety.
If a buyer needs a loan, the unpermitted work can spook lenders. They don't want to loan on a house that could bring future liability.
Collection
[
|
...
]