Wondering whether bank valuers take into consideration extensions that are not approved through council?
I want to put a 4th bedroom on and wondering what the implications are for tapping into equity in the next 5 years if I do the extension myself. I also have plans on a garage granny flat conversion that I can do myself. Obviously getting DA’s & drawings, etc for both projects, etc is quite costly
IF the answer is no, that’s funny as to the contrary I bought same property where agent marketed property to me 3 bedroom and I know for a fact that the existing 3rd bedroom is not council approved.
any thoughts?
I’ve had a 3 bedroom unit counted as a 2 bedroom because the 3rd bedroom was a converted living room. Then taking it to a different valuer it was valued as a 3 bedroom.
-
This reply was modified 8 years, 9 months ago by
Terryw.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
IF the answer is no, that’s funny as to the contrary I bought same property where agent marketed property to me 3 bedroom and I know for a fact that the existing 3rd bedroom is not council approved.
Depends on how diligent the valuer is I suppose – some might not realise/mention it whilst others will.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
-
This reply was modified 8 years, 9 months ago by
You must be logged in to reply to this topic. If you don't have an account, you can register here.
