If you are in the market to purchase a home, it doesn't take much effort to figure out if renovations were actually permitted and inspected, IF you (or better - your real estate agent) ask the right questions.
The selling agent got frustrated when I pointed out that bricking over the garage exterior and converting it into livable space is actually illegal and should be disclosed. This is serious because safety issues, electrical / mechanical demand and load calculations, taxes, etc. are all affected. I was asked to "make a reasonable offer", so I said "80k less than the listing price still might not be safe". Of course they thought I was a jerk. My agent and I discussed this several times in the weeks that followed, we both noticed the home continued to stay on the market a lot longer than average. She was equally upset that the other agent couldn't understand what a legal liability and risk was being presented. If the deal goes down and the new buyer, tax assessor, fire marshal (or even a disgruntled neighbor) calls the buiding authority - the original owner, realtor, closing attorney and contractor would all likely be named in the lawsuit to follow.
The problem in situtations like this is: someone WILL buy the home eventually. If they don't have a solid inspection before closing, they could expose their families to a whirlwind of potential hazards and financial damage.

No comments:
Post a Comment