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I looked at a nice high ranch. Great option with almost 11k$ in property taxes. The house has a small one bedroom apartment with sink,stove and kitchen. We put in an offer. Our agent informed us right away that the seller's agent informed that small apt used to be a garage. Seller does not have/want to get CO.
Questions:
What is the impact on property taxes of this illegal garage conversion? Seller is grieving 11k$ taxes but seller may not be reporting the conversion so current grievance process may be null if town finds out about small apartment existence.
Is it easy to obtain CO for this conversion?
Should I walk away from this house? I don't want to assume retroactive fines or town inspections and be forced to pay legal conversion or retrofit to garage.
Thanks and Please send me your thoughts and suggestions.
WALK AWAY..... If you get caught with that apartment, you will be fined by the town and have to pay back taxes on it (whether someone is living in it or not!)
If the buyer doesn't want to do the right thing, walk away!
It is going to be hard to get the apartment legalized but not hard get a c/o for the conversion.. Get what I'm saying?
People convert garages into interior habitable rooms all of the time to gain extra space. You can get a c/o for this but you may have to remove the kitchen and just label the room as something else.
Best thing to do is have seller rip out the kitchen and then get a c/o for the garage conversion. Should only cost them a few grand plus town fees. This is the quickest way for the homeowner to get a c/o and you not get screwed.
Once the kitchen is removed, the seller can draw as built plans and head to the town to open a permit. They'll get a slap on the wrist (double the permit fee) and then go through the inspection process.
This is where it can get sticky. If there are any other violations in the house, the inspector can go after them, too.
I would only pursue this purchase IF the sellers get everything straightened out and a CO on the garage conversion.
Thanks so much for this great information. In the case we wanted to have the apartment legalized, do you have any idea of what the tax increase could be (an approximate %)?
Accessory apartment has to be 800 sq ft or less, I believe, in TOB. My friend put in for one 10 years ago, and her taxes went up $500 in TOB. I would imagine the income would still pay a big chunk of your taxes.
Accessory apartment has to be 800 sq ft or less, I believe, in TOB. My friend put in for one 10 years ago, and her taxes went up $500 in TOB. I would imagine the income would still pay a big chunk of your taxes.
BUMP
Is this amount accurate? 500?
Does anyone else have personal experience?
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