Do I need a permit to finish my basement?
Yes, even though many property owners do not take out permits it is highly recommend that it be done, especially now!Â Banks are getting tighter with rules; appraisers pay more attention to permits, especially on FHA loans.Â Appraisers are now checking for permits and marking appraisals subject to owners obtaining proper permits, and a certificate of occupancy, mostly for basements but also for bonus rooms and any additional sqft that are not on the town card.Â What does that mean for the seller?Â The seller must now call the city chief engineer/inspector and apply for the permits. Â This can be a pain, some towns are easy and some are tough.
The inspector will come and check to make sure all
work was done to code, they may take apart a part of the wall or sheetrock or
boards, etcâ€¦ It must be done to code or it will have to come down which may
crumble the entire sale/purchase.Â Some
towns go as far as charging you fees and back taxes especially in todayâ€™s
economy where many cities and towns are running on negative budgets, itâ€™s
simply not worth it anymore, it will catch up to you eventually, pull the permit!