When 1,000 square feet doesn’t count
By Ryan Lundquist
Excerpts: One of the most interesting homes I’ve seen just sold. It was brand new, four stories, and a halfplex. Oh, and on paper it was 3,000 sq ft, but about 1,000 sq ft didn’t count in the square footage. This is definitely a conversation piece, so I’m thankful Realtor Brian McMartin agreed to do a Q&A. I hope this will be valuable and interesting. Any thoughts? This is an example of When 1,000 square feet doesn’t count in an appraisal
Quick points:
This house has 1,000 sq ft that is not permitted as square footage. The “non-conditioned” space looks just like square footage.
Understanding permits really does matter…
Interview with selling agent plus Ryan’s (and appraisers’) comments. Worth reading.
To read more, click here
My comment: I see non-permitted areas in homes a lot in my city, typically converted basements. Fortunately, I can get the permit info easily from the city and the property owner does not “get into trouble” because of my inquiry. I am lucky.
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