Additon to home built without permits

[Monica Otto]

Lee is right, alot of interesting takes on this situation. Unlike some of you without stingent permitting regulations, in this area of Florida (and from what I understand, most areas of Florida) this is not the case. Building permits are taken seriously, as well as inspections etc. Espeically with all our new Hurricane requirements. As I stated, in the past (but in a different county) I did not include the area in living area, giving it some sort of "storage" adjustment. Like Lee this also seemed to be what the lenders were looking for, however after talking to an appraiser in the county I am now working in (I have only been here 2 years) she indicated that the "slap on the wrist" mentality prevailed here. I dont feel I should go the the county and open a can of worms for the property owners, however I will call the lender, and if they want me to complete the report, I will be very explicit within the report about the situation. I still havent decided what sort of value to give it though...... :roll:
Thanks all.

 

[Terrel L. Shields]

I think I would condition the value estimate. Estimate as if the permits were in place. Then state the appraiser cannot estimate the cost to bring into compliance, therefore makes the value estimate contingent upon the property being brought into compliance....i.e.- not an as is value, but a value subject to bringing it into legal compliance. UWs will have a field day with that! But it forces everyone's hand. You cannot guess what it will cost to cure so why try? Throw the ball back in their court. Owner will have a fit. LO will have a cow, and UW will whine like big dog, and you best not expect any timely payment. But it is the homeowners responsiblity to get the permits, not yours to guess what that will cost.

 

[Bill_FL]

Could you say something to the effect of...

The subject is comprised of two sections. The original home, built in XXXX and an addition, built in XXXX, per the property owner. A review of public records did not indicate a year built for this section. The appraiser assumes all of the improvements were constructed to meet or surpass building codes applicable at teh time of construction.