Quote:
Originally Posted by onewhippedpuppy
Someone clarify this for me, if you do work on your own house without a permit, when does it catch up with you? The only thing I can see is wanting to have your house reassesed to raise your appraised value prior to a sale. If there have been major changes prior to your last appraisal, they'll ask about permits. Otherwise, when will it matter?
Furthermore, short of actually adding square footage, how would they know the difference? The big stuff would be obvious, but how would they know if you remodeled a bathroom? Our property taxes are based on basic information such as finished square footage, bedrooms, basement, etc. Short of big stuff like that, they'd never know the difference.
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May depend on geography but in NY,
1) Bank sends appraiser to review property and structure.
2) Land Survey, footprint of existing structure must match survey on file.
3) Interior is checked against CO's on file as well as tax card.
Remodeling a bathroom is not an issue, adding one is. Requires at least plumbing permit, habitable space permit, electrical permit and depending on where it is in the house possibly a structural permit.
You need a habitable space permit if you convert part of your "attic" to a bedroom.
Some banks care, others do not. The ones that do, if they see a mismatch they don't lend.