Home Buying in 95386>Question Details

Kimhuckaby80, Home Buyer in Waterford, CA

What would penalties be for turning in a patio to 2 bedroom 1 bath with no permits.?

Asked by Kimhuckaby80, Waterford, CA Wed Jan 23, 2013

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I would caution an owner not to make improvements without a permit. Permits work to ensure that construction and safety standards are adhered to. It's possible an appraiser may not include non-permitted space in an appraisal. It can save you money in the short term, but can cost you when you go to sell.
0 votes Thank Flag Link Thu Jan 24, 2013
Hello Kim, If you decide you want to pursue getting permits, the costs can be included in a 203k loan. Here are a few links to study in case you want to make it legal and use a 203k loan. You can use the Standard 203k from 5k up to maximum FHA loan limits for your county. You get assigned a 203k consultant that assists you with your estimates and you can gain more equity than you spend in remodeling costs... Any questions, feel free to call me any time 9am till 9pm 7 days.

http://www.under640ficoscoreloans.com/Pages/203K.aspx

http://www.under640ficoscoreloans.com/Pages/203KGuidelines.aspx

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
20+ Years Experience
DRE# 01140252
NMLS# 297251
760-486-4225
9am till 9pm 7 days
http://youtu.be/MrygA2_8fAY
0 votes Thank Flag Link Wed Jan 23, 2013
Kimhuckaby80,

In addition to the risk that you could have to "tear out" the improvements (more likely bring them to code, if possible), there are some other considerations you should weigh. If you sell the home, a "non-permitted addition," as we like to call it in the industry, could pose problems for buyers when they seek to get approved for their financing. Certainly there are a lot of great, practical, non-permitted additions out there, but in your shoes, I'd at least consult with a contractor to determine the scope of making it all legit. If it's too steep to bear, you can take your chances, but always better to not be penny wise and pound foolish.

Good luck,

Rob Spinosa
RPM Mortgage
rspinosa@rpm-mtg.com
0 votes Thank Flag Link Wed Jan 23, 2013
Worst case scenario would be the city making you tear it all down after your done. If a neighbor or whomever calls and says anything that can be the outcome. You may want to inquire with the city on costs of permits anonymously just to see how much cost is involved before you take that chance.

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
20+ Years Experience
DRE# 01140252
NMLS# 297251
760-486-4225
9am till 9pm 7 days
http://youtu.be/MrygA2_8fAY
0 votes Thank Flag Link Wed Jan 23, 2013
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