It was our pleasure to showing transferring Buyers their new home in Brookfield...Or potentially their new home. The lower level was beautifully finished...a bar, bath, additional bedroom with egress window, two finished recreation rooms..b-u-tiful...a great place for entertaining and guest quarters !
There was nothing about this space that did not say "professional" except....when we contacted the City ....there were no permits pulled. In this city...it would mean a building, electrical and plumbing permit. The costs of the permits based upon what was done..the number of outlets and switches...was now tripled to about $2,000.
That cost is just the beginning...who knows what lies behind the drywall...was the electrical work and plumbing done to code ? After the drywall was removed would licensed contractors have to re-do everything...remove more walls..mmm...that is the $$$$ question ! No one knows or will kmow because the Buyers will have to buy the property before learning the extent of possible updates. Then after everything passes inspection...drywall has to be put back up and the room repainted.
Some municipalities in our area require "pre-sale" inspections where the city looks for anything not done that requires a permit or repairs that should be made before the property is transferrred to a new owner. Here...it is a roll of the dice to guess the discount that they will may choose to apply to the price that may cover the cost of the "maybe repairs."
The jury is out at this writing...Buyers are thinking...Sellers are hoping...to be or not to be. If you are a homeowner...and may have purchased a home that you did not know required permits for work done...we suggest a trip to the inspection deparment of your municipality and learn what may or may not require permits and get your property up to code before considering selling it. The longer you wait, the more it will cost and there may be safety hazards as well.
If you are looking for Realtors who will safely guide you thru a listing or purchase in southeastern Wisconsin, call the Hansons, we are honored to be of service.