Realtor’s Beware!!! Unpermitted Work!!!!!
One of the growing challenges in today’s lending environment is the discovery of un-permitted work on appraisals. With the growing number of distressed sales in the market, the number of properties that have permit challenges is on the rise.
Appraisers must match up the actual floor plan of the property with public records. They are discovering work has been done either without permits being pulled or permits that are unresolved.
The only two options that resolve this issue are;
- Work gets completed through the permitting process.
- Property is re-stored to original condition.
If you would like further clarification, please don’t hesitate to call!!!!!