No elevator - Still complete?

[Wendy]

I am doing a new construction sale that includes an elevator. Well, it includes an elevator shaft. No actual elevator or elevator like bits.

Construction is complete and the CO has been issued. This is a spec house sold via MLS.

The shaft is finished with drywall and paint and the openings (3) have doors and are blocked with a railing behind the door. The railings are not temporary half-arsed construction things - they are unpainted pressure treated wood but whoever built them did attempt to make them look spiffy. Safety is not an issue.

The contract for sale is not subject to the elevator being installed. Market and home style are amendable to elevators, but do not demand them.

Anybody see an issue with doing this as-is? I do not, but wanted to double check.

Also, what the heck is the value of an empty elevator shaft? (I do have a sale w/ an elevator - maybe I'll get lucky and it was just a shaft too.)

 

[hglenbetts]

Sounds like a perfect spot for an indoor palm.

Or you could put a ladder in it and call it a stairway.

Sorry wendy... I usually have to worry about the gap in the cabinets where a range hood goes, or the door wall with a rail across it instead of deck outside. A missing elevator is too good.

 

[JT1599]

Hi Wendy:

we did something similar here recently and if the elevator is part of the plans and exhibits it should be included unless otherwise stated on the plans and specs and approval from higher authority in the county.

 

[Offshore]

My guess is the property is near the beach or in flood plain and is on pilings. I know 2 people that have properties like this with elevator shafts, but no elevator. It saves between 12-20 K. The idea is you add the elevator when you can no longer physically climb the stairs or add one if the market demands it when you sell. It’s not unlike a house with an unfinished room over the garage which was built in a manner where it can finished later with minimal effort and material.

 

[Mr Rex]

Laundry chute or in Offshore's case, garbage chute, suitable for future elevator.

 

[RSW]

I had one just like that about 10 years ago. They built a railing on each level of the elevator shaft for safety reasons. The shaft was finished with the same quality of materials of the dwelling. I didn't have any problem with it. I just emplained what they did and that they may install an elevator at a later date. The lender was ok with it.

 

[Offshore]

Mr. Rex I believe Floyd McKissock's showcase PUD near you had properties with a few elevators in it. Do know if they were finished when sold? If my memory is correct, Floyd got all the elevators and Uncle Sam got the shaft.

 

[Wendy]

Hi Wendy:

we did something similar here recently and if the elevator is part of the plans and exhibits it should be included unless otherwise stated on the plans and specs and approval from higher authority in the county.

It's not a P&S appraisal so no issues there. County is also good with it.

 

[Wendy]

Thanks Offshore, Rex & RSW. Seems this is a non-issue like I thought. Never hurts to double check.......

 

[JRS at OBX]

If the appraisal was done subject to completion as per plans and specs which included an elevator, then it has not been completed as per plans and specs. It may be complete, but not as per plans and specs.

We have several houses here that have an elevator shaft but floors have been installed on every level and the rooms have been turned into closets. An elevator can easily be added by cutting the floors out.