Robert

George,
I'm a realtor. I have had sellers with this issue. I had my seller advise the town of the issue. The town found thet that structure was too close to boundry lines and would require a varience even if it was not already there.(worse than your situation). I applied ofr a permit for the original structure and a variance. I notified all the surrounding properties, and they were invited to the hearing. We spoke that we had no knowledge of the structure, and bought it as such. The town was impressed with our candor and granted both the permit and variance. The neighbors came out to support the seller, which was unexpected. You didnt build this garage, you just want to make it right. Thats should be your attitude. If you will add an inlaw, you will need to remove some of the existing structure to sure up the floor and wall I assume and the inspector will take that opportunity to look into what is there now. Honesty goes a long was in battling the evil town hall officials....Good luck - Thu Aug 7 2008, 08:19

This may sound simple. Drive down there on a Friday night and park on the street. See for yourself what the noise level is like, traffic and people in the area.
Just a thought. - Sun Jul 6 2008, 10:09

Commercial property cannot be compared to residential. You buy based on the ROI numbers. (Return on Investment) Your purchasing this property to make money, if it does after costs, its worth what that number is. Assessments can be a guide, but usually not very accurate as far as market value. Assessment are based on the market when they are done, maybe 5 years between these times. In a declining market such as we have, you must wait for the next assessment to see it move down. Note: This makes no difference as the city can adjust the tax rate higher to create more revenue. So, next year your property is valued at 25K less. The city says, well the budject will be short,raise the tax RATE 2%. Now your paying the same thing.
Short answer, commercial should make enough money to cover short term coast increases. - Sun Jul 6 2008, 10:06