No Permit Partially Finished Basement Appraisal

[tommydearest]

Appraisers are permitted under USPAP to disclose the physical improvements of your property, as in that you have a finished basement.

To whom, though? Would they have any reason to do this to anyone besides the lender? Also, I'm not sure what kind of improvement this would be seen as, considering it's not really finished.

 

[Russ Kitzberger]

To whom, though? Would they have any reason to do this to anyone besides the lender? Also, I'm not sure what kind of improvement this would be seen as, considering it's not really finished.

Can't get down to the motivations of a person without a full analysis, but on the surface, obviously, OP is worried about something, confidentiality agreement is one way to solve that.

 

[Sadie]

I looked into the insurance part when I did it. I'm not too worried about that. I also assume that I will have to do something when we decide to sell. That probably won't be for a ways off.

As far as professional looking, I did it pretty much up to code other than the egress window. But, like I said, the outside of a couple of the walls aren't even covered. Not sure how professional looking that is.

This is one reason I thought it might be wise to let them know it was unpermitted. If I admitted it at the beginning, why check?

Some appraiser's don't check. I say don't volunteer unless specifically asked. Even though I check, not all municipalities are current or accurate with their online permit information. As for the egress window, here in OR, unless its a bedroom, you don't have to worry.

 

[Mark K]

To whom, though? Would they have any reason to do this to anyone besides the lender? Also, I'm not sure what kind of improvement this would be seen as, considering it's not really finished.

Often when an appraiser checks for permits the first thing the bureaucrats ask is the address; no address, no info. Then they proceed with a witch hunt if they find out or suspect something is unpermitted. Some areas with lots of useless political appointees trying to justify their jobs are bad about this; others have employees with brains and bigger fish to fry.

 

[tommydearest]

Even though I check

Would there be any reason to check if the homeowner told you specifically there aren't permits for it? Also, when you say a lot of cities aren't current with their online permit info, does that mean that's as far as you go? If you went to check my basement for permit, and the online system didn't list one, you'd be satisfied? Or, would you then follow up at city hall?

Thanks.

 

[tommydearest]

Often when an appraiser checks for permits the first thing the bureaucrats ask is the address; no address, no info. Then they proceed with a witch hunt if they find out or suspect something is unpermitted.

That's really my biggest concern. I'd probably label our city as lower middle class, short on money, and I've heard some pretty aggressive things that code enforcement has pulled. I started the thread to kind of see what the general consensus on whether or not the appraiser would go to the city, or just list the basement as "partially finished" and be done with it.

I was really hoping to do the refi with no appraisal, seeing as we are borrowing so much less than what homes similar are selling for. But, I'm the one asking to be lent money, so I guess I can't complain about that too much.

 

[alebrewer]

I've never heard of an appraiser sharing improvement information with a planning department - that's not to say it hasn't happened, only that I've never heard of it in 35 years as an appraiser. The appraiser IS required to report the condition of the improvements as accurately as possible, including whether or not additions/conversions are permitted (if permit information is readily available) - this information, however, is relayed only to the lender.

 

[Tom D]

Would there be any reason to check if the homeowner told you specifically there aren't permits for it? Also, when you say a lot of cities aren't current with their online permit info, does that mean that's as far as you go? If you went to check my basement for permit, and the online system didn't list one, you'd be satisfied? Or, would you then follow up at city hall?

Thanks.

well, big city hall in person is now covid closed. when it was open, big city, you could wait for hours to look in a folder. most folders were empty considering homes being 75-300 years old. you think inspectors followed their own books. no, they followed the quick $20 when 20 was real money. but now a days, they will burn you for rehabing the whole house without permits

 

[Sadie]

Would there be any reason to check if the homeowner told you specifically there aren't permits for it? Also, when you say a lot of cities aren't current with their online permit info, does that mean that's as far as you go? If you went to check my basement for permit, and the online system didn't list one, you'd be satisfied? Or, would you then follow up at city hall?

Thanks.

I just check online usually. If its something big like an ADU I will check. I do try and not reveal too much because I am not the zoning police. In you situation , i don't think its a huge big deal. If you had a fully functioning apartment, I might be concerned. The appraiser may or may not call your basement finished.

 

[Mark K]

I've never heard of an appraiser sharing improvement information with a planning department - that's not to say it hasn't happened, only that I've never heard of it in 35 years as an appraiser.

Well, now you have. I once narc'd on a homeowner that had a 7 yr old house and the assessor property card had it as a vacant lot and the owner was paying taxes only on the lot.

Thing is....the owner worked in the Assessor's office. Accidental? I didn't think so and I told the Assessor the same thing.

Other than that, I've left it up to the authorities to do their own discovering.