Ever wondered what happens if you find your dream home, but discover it has unpermitted work? You're not alone.

Here's what you need to know. Firstly, unpermitted work can range from minor cosmetic changes to major structural renovations. The key question is: how does this affect the home's value and safety?

Here's the deal: unpermitted work can pose risks. It might not meet building codes, which can affect insurance and financing.

The way I see it, there are 3 options on how to handle it.

Option one: Get it permitted. This might involve inspections, upgrades, or even reversing the changes. Yes, it can be costly and time-consuming, but it ensures everything is up to code.

Option two: Negotiate the price. Unpermitted work can be a bargaining chip in price negotiations. You can often get a reduction to cover the potential costs of rectifying said work.

Option three: Look for indemnity insurance. This can protect you against certain losses related to unpermitted work. But remember, it's not a fix-all solution.

Here's a pro tip: Always consult with a real estate professional and a lawyer. They can help navigate the complexities and make informed decisions. And remember, every situation is unique.

Unpermitted work isn't always a deal-breaker, but it's crucial to understand the risks and solutions. So, don't think twice before skipping that permit for your next renovation. And if you’re buying, make sure to check that all major work was actually permitted. If it wasn’t, you may have just gained the upper hand in the negotiations. Follow me for more real estate tips!

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