Keith Sorem

Be sure to consult your CPA and an attorney if needed to protect your interests!
If the buyer flakes you need to be protected.
Keith - A few minutes ago

James,
You'll need a building permit for that.
Only if the construction project is permitted will it add value.
Technically you are remodelling, not a garage conversion. I would suggest "adding a bedroom" will sound better to a building inspector or plan check person, rather than 'garage conversion", which sounds like you are converting a parking space to a bedroom...which is not legal in most areas

I like the idea of adding the living space. However, I am not sure you will gain enough in the sale price. i'd run the numbers because construction is not cheap. But if it pencils out, go for it. - A few hours ago

Art
I was reviewing your posts and have a couple of suggestions:

If you really want to net the most when you sell, you need three things:
1. Exposure to the buyers
2. Market knowledge
3. Negotiating expertise

The buyer that first sees the home they buy sees it with a Realtor 90% of the time. So you need to reach Realtors.
The most frequent question I see from sellers with MLS entry only or limited service brokers is this:
My home has been on the market, it is not selling, no one is showing it, what do I do?

Because we don't know that person's home, their market , and their situation, even if we wanted to we cannot help them.

You do get what you pay for.

Interview three Realtors. Ask for an Estimate of Sellers' net Proceeds. Then you run the numbers.

I track the listings for MLS Entry Only and Discount brokers versus full service. Once a quarter.
The results are this:
Listings sold by full service Realtors sell more often. MLS Entry Only or Discount brokers listing FAIL to sell over 33% more often.
Listings sold by full service Realtors sell closest to asking price. Listings sold by MLS Entry only sell for less.
Listings sold by Full service Realtors sell in less time.

Good luck - A few hours ago

Beatriz
I would be happy to refer you to a local top agent in your area,
Please call me 1-888-284-2056.
Keith - A few hours ago

George
The challenges you have are going to be many. Thanks for posting:
First, when you purchased the home you are selling, did you use a Realtor? Probably, 90% of people first see the home they buy with a Realtor.
Why use a Realtor? Because we work for free. People may look online for a home, but they want a Realtor that knows the market and is a good negotiator to get them the best deal and keep them out of legal entanglements.

So, not surprising, owners selling without professional representation sell to someone they know 5% of the time, someone they don't know 5% of the time, and 86% of the time list with a Realtor (NAR).

I think that if you can sell it on your own, go ahead. Know that on average Realtors average 15% more than owners on their own. If unrepresented sellers are dealing wth 10% of the market, then obviously they have a smaller pool of buyers that are very budget conscious. Rather than paying nothing for professional representation, buyers are looking at owners selling direct for a deal. That's why the average sales prices are lower.

I recommend that you interview three Realtors. Ask them for an Estimate of Seller's Net Proceeds. Run the numbers. If it does not work out, then you have a back up plan to list it with a Realtor.

Good luck. - A few hours ago