In this situation best way would be to have the contractor finance all the cost of remodeling or seek a stand alone construction/remodeling loan from lenders. Depending on your overall situation even FHA 203K home renovation loan may make sense. There is no lenders that I can think of that will simply give you a 100% LTV HELOC or Home Equity, most you may be able to get is 85 CLTV.
If this information was helpful please select the Best Answer option. Please get in touch with me if you need to speak to me.
Sanjeev Ahuja NMLS # 148731
Home Funding LLC
110 Jericho Turnpike Ste 214
Floral Park, NY 11001
Direct Ph 917-517-2552
NYS Registered Broker, Department of Financial Services, Loans Arranged through third parties NMLS # 885573... more
Depends on your area of interest and budget; keep in mind that most gated communities already offer common area pools among other amenities, therefore choices are limited; if interested in the Manhasset area check out Stone Hill, some of the homes have private pools.... more
Hello Home Buyer,
I can help you with your home search. I live in Port Washington + I'm familiar with gated communities in the area, as well as active 55+, that have indoor pools. You can call me tomorrow to further discuss your search parameters.
Of course - "Stone Hill" - in Manhasset - there are homes available with swimming pools. This is an elegant upscale community just south of Northern Boulevard and west of Shelter Rock Road.
LICENSED ASSOCIATE REAL ESTATE BROKER
DOUGLAS ELLIMAN REAL ESTATE
CRS - Certified Residential Specialist, SRES - Seniors Real Estate Specialist
GRI - Graduate, REALTOR Institute CBR - Certified Buyer Representative
Working with ELINORE WEST - to be the SOURCE for all of your Real Estate Needs
11 BOND STREET, GREAT NECK, NY, 11021
NOTARY Public... more
If referring to basement apartments, keep in mind most are illegal. Check www.mlsli.com for available area rentals; check local print media for by owner rentals, always verify ownership before exchanging any money; word of mouth, etc.... more
Please call another attorney. I am not an attorney, but have had similar situations and they did not result in what your attorney is stating.
It does not hurt to consult with someone else.
I recommend calling Darren Sheehan at 631-659-3377 or email firstname.lastname@example.org for another opinion.
I'm not certain where your co-worker friend got their information. We are not permitted to even show homes that are not listed on the market so I can tell you first hand, having worked this territory for 25+ years, this simply is just not the case. Do homes sell quickly....the first week they are on the market?? Yes! If they are priced correctly and aggressively for this market, they will sell quickly.... more
Theoretically it should affect the sale price of the house, because the buyer should take into consideration the cost in permits that would be required to bring it up to code. However, depending on the area you live in and how common unpermitted renovations are in that area will play a huge factor. In other words if it is a very common occurrence in your area, it probably won't affect the price much, and vice versa if it is uncommon.