It would be best for you (price, speed of sale,etc) if you either bring the garage up to code, or turn it back into a garage. It's very difficult for even the best buyers to get a bank to finance with un permitted work. If you leave the work, the appraiser will omit it when setting a value, however, it's much easier to sell a home that does NOT have un permitted work .
John K. Byers
In the City of Los Angeles, you will be able to sell the property without having to have the garage permitted, but you must disclose the fact that it is not permitted to any potential buyer. Also, an appraiser will not consider any unpermitted additions to a property when calculating the value, so the additional square footage of the garage conversion will not count towards the overall value of the house. Certain cities such as Pasadena require a Certificate of Occupancy to be issued each time a home is sold, and any unpermitted additions must be brought up to code. The City of LA does not have such a requirement.
Hope this helps - let me know if you have any questions.
John Barry, Realtor
Coldwell Banker Residential Brokerage
Sorry to hear about your divorce. It is not an easy thing to go through - I know because I have been there.
It will depend on the buyer's lender to a large extent. I can tell you that if the buyer will be getting an FHA loan then the property will not qualify because FHA will not lend on a property with unpermitted conversions so you would need to address the garage under those circumstances. Full disclosure up front is the best move, and then it would be up to the guidelines of a buyer's lender whether or not they will approve the financing.
There are many homes in the Valley that have unpermitted conversions and many sell without any problems. It is important to know that you may face the possibility of having to convert the garage back to a working garage in order to sell, but I would try putting it on the market without making any changes, disclosing the conversion, and going from there.
If you would like information on the value of your home, I would be happy to provide you with a complimentary market evaluation so feel free to contact me.
You can try to sell it as is, but if you have a buyer who is getting an FHA loan, then you can have a problem. Do you have a carport? It depends on the type of conversion, is it just a room, or do you have a bathroom/kitchen?? Let me know if I can be of help.
12345 Ventura Blvd.
Studio City, CA 91604
DRE # 01759367
All cities are different. If you need to obtain a certificate of occupancy, the city may require you to convert back before issuing a C of O. You will need this in order to close.
If you do not need a C of O in North Hollywood in order to close title, you can sell as - is.
Joseph "Joe Oz" Ossichak III
NJAR Circle of Excellence 2009, 2010, 2011
Real Estate Consultant
RE/MAX - The Real Estate Leaders
107 Tindall Road - Executive Suites
MIDDLETOWN, NJ 07748
Office: 732.933.0200 x 307
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You should be able to sell as-is. If the buyer is going to be financing, then you will not know until the buyer is in process of getting their loan and appraisal has been done - if their lender will require any repairs regarding the garage. Feel free to contact me for an estimate of fair market value of your property or visit http://www.getlosangeleshomevalue.com.
Sara Mehrpouyan CDPE
Dre License #01712757