Practicing real estate ventures is something that many know nothing about. Either purchasing or selling a home can take quite a bit of your energy and patience. However, since many have gone through it before you, you'll be able to learn from their mistakes and avoid making your own. Selling or buying a home with unpermitted work is not a very common occurrence. Nevertheless, sometimes it's necessary and unavoidable. It can take a toll on your home insurance and your right to demand repairs if need be. If you're selling a home, having unpermitted work can make it hard. Let's see some particularities about such a process and how you should go about it.
Selling or buying a home with unpermitted work - what does it mean?
Unpermitted work is any work done on a home without the approval that the city must give. This can entail that the city does not know about the work done or finds it improper and will not stand by it. If you wish to add to something in your home, you must seek permission to do so. Those who don't end up conducting unpermitted work to see the venture through. They do this either out of lack of information and knowledge or because they know they won't get the permission to carry on with what they have in mind, so they disregard the city's opinion.
This is precisely why you should get a home inspection before purchasing a home. You never know whether someone has documented all the work they've done to their property or not. Additionally, the process could get tangled and messy, whether you're selling or buying a home with unpermitted work.
Should you purchase a home with unpermitted work?
Of course, at a single glance, purchasing a home with unpermitted work is a terrible idea that you should avoid at all costs. Since the quality of such work varies greatly, you never know what you'll find. It can even be dangerous for you and your family to reside there. Especially if you run into unpermitted work that concerns the home's foundation or its faulty wiring, the threat could be grand and even life-threatening.
Aside from these dangers, you could also end up with quite a lot of debt if you have to invest in repairs once you've bought the home. Financing these issues and paying for all that goes alongside it can take out a considerable chunk of your budget.
Local governments could also meddle in your case if you've purchased a home that has unpermitted work. They have the right to demand that you remove it, which is also a lot of work.
Hire a top real estate agent to help you
Although buying or selling a home with unpermitted work isn't highly recommended, no one has the right to stop you. If you do this, it's best to have top-notch real estate agents on your side. Make sure to look for an excellent real estate company with your eyes wide open.
How we can help
We are the leading real estate referral company throughout the United States. Our primary mission is to help buyers, sellers, and real estate agents find their best match. Simply put, we provide buyers and sellers with top real estate agents that are the best in their field. They're all checked-out, reliable, and experienced. However, there's an important detail that sets us apart from other referral companies. We've found a legal loophole that makes it possible for you to get a chunk of the referral fee back instead of it all going to Park Place. Of course, our real estate agents are compensated fairly as well. This makes what we do a win, win, win situation.
Hire a moving company
Aside from hiring reliable real estate agents that we'll be happy to provide, you'll also need a reliable moving company to help you with that part of the equation. As consultants at Cross Country Moving Group advise, professional movers will do wonders for your schedule as they are experienced and well-versed in all sorts of relocations. This means that you'll be able to relax and focus on other essential things.
How hard is it to sell a home with unpermitted work?
Although the negotiation process can be tough enough on its own, things are even further complicated if you're selling a home with permitted work. If you're an owner of such a home at the moment, there are some things you could do. Firstly, you need to ask yourself how much you can set aside for the necessary project that's ahead.
● Get the needed permits in a retroactive manner
● Sell your home in its current condition
Seeing how you're selling or buying a home with unpermitted work, you'll need to amp up your other safety measures. Other than keeping yourself and your family safe, you'll also need to protect your belongings. The best way to do this is to find storage that you can utilize for a certain amount of time. Ensure that you're looking for storage through reliable sources and that you're not falling for a scam. Luckily, you should have no trouble finding a quality facility in Florida that you can utilize.
Lying shouldn't be an option
Whatever you end up doing, know that selling or buying a home with unpermitted work should never prevent you from being upfront and honest. Especially if you're selling a home in this condition, you should clearly state your intentions and be upfront about any possible damage and the overall quality of the work that's been done. Of course, the best course of action would be to take the legal, moral, and honorable path and fix any unpermitted work that your property has undergone over the years.
Written by: Lisa Roberts with US Moving Experts