[WSBARP] Referral Needed --- Lack of Permit Question

[Marc Holmes]

Appraisers vary on how rigidly they interpret and/or enforce the guidelines
so i t may be a lot easier to pick a new lender and order a new appraisal.
FHA appraisals follow the property so this wouldn't work but I think VA
appraisals are more like Fannie/Freddie and do not.  Ask a loan officer that
does VA loans and they'll know.  

 

I suspect the problem is that the value came in low since the current
appraiser won't include the 300' of attic space.  If that's the case, they
might also challenge the valuation if they think the appraiser missed
something about the comparables he chose or missed a better comparable that
better supports the price per foot you need.  I deal with this sort of thing
with some frequency but don't have the bandwidth to take on the client.

 

 

Marc Holmes

Holmes Law Group PLLC

808 5th Ave N

Seattle WA 98109

HolmesLawGroup.com <http://holmeslawgroup.com/> 

marc at holmeslawgroup.com

Ofc: 206-357-4224

Cell: 206-849-0853

 

From: wsbarp-bounces at lists.wsbarppt.com
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Ronald L. Coleman
Sent: Friday, February 24, 2017 9:09 AM
To: 'wsbarp at lists.wsbarppt.com'
Subject: [WSBARP] Referral Needed --- Lack of Permit Question

 

 

PC purchased house a year ago which was built in 1923, with unfinished attic
at that time. 1971, attic finished without permit, but included by assessor
in square footage of house. All work is fine and house has been appraised
and sold four times since 1971, with the approx. 300 sq ft in upstairs
(attic originally) included.  House now being sold and VA  appraiser says
cannot  include the upstairs because ceiling is 7 ft 4 inches and needs to
be for code 7 ft 6 or 8 in (I am not sure on the 6" or 8"0). City of Tacoma
says no record of permit. Workmanship not an issue and could be permitted if
ceiling was higher, per City. I need to refer this to someone who has
handled matters like this. I have heard of whole houses and garages being
"permitted' after the fact, and this one seems very strange. The VA
appraiser will not approve unless City says ok for use as finished.

 

Thank you.

 

Ron Coleman

Ronald L. Coleman
Direct 253-238-5129 - rcoleman at dpearson.com

Davies Pearson, P.C.
ATTORNEYS AT LAW
920 Fawcett Avenue / PO Box 1657, Tacoma, WA 98401
253-620-1500 | Fax 253-238-5158 |  <http://www.dpearson.com>
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