Asked by Dma1029, Scottsdale, AZ • Sat Jan 21, 2012
We have found a home that was sold less than a year ago as an 1800 sq/ft 2 bed 2 bath and is now being listed as 2400sq/ft 3 bed 3 bath. There is a 600 sq/ft guest house on the property that did not have any permits when built in 1991. In 2001 there was a permit for the guest house as "non livable" space. I have to imagine thats why the MLS listing from a year ago did not include it as livable space.
The house is now being listed at 50% higher. It was not a short sale nor a foreclosure and sold for cash 10 months ago.
Our concern is a lender will only lend what the house is appraised at and an appraiser will only appraise the home based on its livable space. Our first offer based on the surrounding comps was rejected without counter. We are happy to pay for an appraisal before making a second offer but we aren't sure if thats normal. It seems as though the seller is not aware of the issue as she paid cash.
Real Estate in Cave Creek
Popular Categories in Cave Creek
Email me when…