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Garage As Storage?

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Sabrina9

Freshman Member
Joined
Mar 29, 2017
Professional Status
General Public
State
New York
I purchased my house 18 years ago. The garage was sheetrocked, had a bathroom and 5' kitchen. The overhead garage door doesn't open, there is a man door in the rear to get in

Its not an apartment, no one lives in there. It is all storage, unused plumbing - in fact its shut off.

I am in the process of selling and will have an appraisal soon

My buyer is a SONYMA loan. Does anyone think that this is an issue? Its not living space, but its not a garage you can park in..

I think the house will appraise for sale price even if the garage didn't exist at all..

Any educated guesses?

Thanks
 

AMF13

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
So, there is a vehicle door, but it was sheet rocked over? Sounds like you have a garage conversion, and maybe one that is easily reconverted.
Assuming you could remove drywall and restore use as garage.
 

glenn walker

Elite Member
Joined
Oct 11, 2006
Professional Status
Certified Residential Appraiser
State
California
If it's only storage turn it back into a usable garage ** Cold weather and snow in NY and a garage does not count : ) LOL
 

Sabrina9

Freshman Member
Joined
Mar 29, 2017
Professional Status
General Public
State
New York
I could convert it back but my question is would it be a requirement... the people buying the house want to keep it like it is

I supposed no one but the appraiser who comes here can answer that.
 

AMF13

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
Their lender may require it, or not. It's not up to the appraiser to require it, generally.
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
I could convert it back but my question is would it be a requirement... the people buying the house want to keep it like it is

I supposed no one but the appraiser who comes here can answer that.

Where is the property located (County, Town, City, Village)? Governing Municipality? 1. check Assessor record and more importantly 2. Building and Zoning records.
 

hastalavista

Elite Member
Joined
May 16, 2005
Professional Status
Certified General Appraiser
State
California
It looks like the SONYMA program is a down payment assistance program. From their website, they indicate they assist on FHA and conventional loans.
Assuming that is the case, then the garage issue would not likely be an appraisal issue.
However, as Mike Kennedy suggests, the zoning ordinances may come into play. For example, if the zoning district you are in requries covered parking, then that may be an issue.

Good luck!
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
The appraiser may adjust the garge/storage as a garage less cost to convert back. Probably no requirement to actually convert back.
 
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