For Pete Sake, Please Stop Putting Illegal Kitchens in Your House, Long Island (Melville: real estate, foreclosures)
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Given the fact that most home owners fantasize about the moment they'll get to cash in their long awaited equity (which has home owners selling their homes for almost 3 times what they bought it for prior to 1998), you'd think they would have been able to resist the urge to put in an illegal second kitchen! It makes resale so much trickier.
Long Islanders, please. If Timmy needs to live with you even though he's 30, or if you are Timmy and Mommy or Daddy need to live with you; Please share your kitchen with them. Some (not all) properties with illegal second kitchens are sitting on the market for months even in a crazy sellers market. I can see why as a buyer who doesn't want a second kitchen.
I sold and bought a house with a second kitchen without a CO in August.
Both houses went into contract within a week of being listed.
Seriously, stop posting threads.
That hasn't been my experience. Not sure why you think your experience is more valid than mine. I did say -not always- though. I witnessed one colonial about a month ago that sold for above ask in one day on the market with an illegal second kitchen. I think size matters. People looking for larger homes are probably interested in multi family. We are looking at homes under 1100 SF. Clearly less is more. We don't want or need a second kitchen, having it there complicates getting a loan, we'd have to pay for permits and after all that, just for the privilege of having a superfluous appliance taking up valuable SF, we get to pay higher taxes No thanks, not interested. We've encountered 4 stagnant listings with this issue (all ranches with a kitchen in the basement for their useless adult offspring.) I can't understand why, if they're close enough to live in the same house with relative, they can't share a stove. Is it really necessary for both to be cooking at the same time? Also, why not take the second stove when you sell?? If you're downsizing, sell it to offset the cost of capping the gas line. Instead of trying to sell a 470,000 piece of real estate with a tax / zoning illegality. Regardless, it's unlikely that anyone looking to buy 1030 SF will want to share that space and pay dearly to do so. I don't even want to share the space with the second stove, let alone another person to use it.
Given the fact that most home owners fantasize about the moment they'll get to cash in their long awaited equity (which has home owners selling their homes for almost 3 times what they bought it for prior to 1998), you'd think they would have been able to resist the urge to put in an illegal second kitchen! It makes resale so much trickier.
Long Islanders, please. If Timmy needs to live with you even though he's 30, or if you are Timmy and Mommy or Daddy need to live with you; Please share your kitchen with them. Some (not all) properties with illegal second kitchens are sitting on the market for months even in a crazy sellers market. I can see why as a buyer who doesn't want a second kitchen.
Your posts keeping getting more unhinged. You take isolated incidents and make them into systemic maladies. You are like someone who comes into a movie near the end then starts squawking about how bad it sucks, even though everyone else has their own take on it, a more thorough, full scale picture of it, not an angry rant based on wanting something you can't find and are being petulant about.
If it has an illegal kitchen one of these things happens:
1. The buyer moves on
2. The seller fixes it and gets the CO or provides escrow to fix it.
3. The seller and buyer make a deal on how to resolve it.
4. The buyer buys it anyway because ITS A SELLERS MARKET!
IF you had a clue about context and history (or just had a clue), you'd understand that pre-2008 crash, lenders were rubber stamping mortgages at warp speed. They didn't stop for 2nd kitchens and baths, sheds, fences, pools, etc. Just said show me some pay stubs and here's your loan. LTV? "Nah, who cares?!" AFTER the crash, lending dried up. Foreclosures still backlogged. ANY, and I mean ANY code deviance that might hinder getting a CO would stop any mortgage in its tracks. Lenders would not lend without clean titles and CO's period. We are just now coming out of that so this big sellers market that has you so flummoxed is actually only a few years strong and lenders slowly getting back in. Pre the crash, the mortgage industry dominated Rte 110 in Melville and provided thousands of jobs. That entire industry imploded in 2008-2010. GAP was implemented which slashed school funding and raised taxes. The RE market was at a crawl. It was a dry, barren, weak market and homes were priced 20% lower than now. If you were looking THEN, your entire perspective might be different that it is now. With your cash on hand, you could have scored big. Many developers did just that. THEY could afford to rip out an old 2nd kitchen and file for new permits. Part of a day's work. Not so easy for a regular joe needing a mortgage.
That is why you get so much flack. You lack insight into your own posts and go off on odd tangents, then snipe at anyone who points it out.
Most of these kitchens are in a basement and are just overlooked by the buyer. Buyer intented to renovate the basement anyway.
Oh. Because I'm told by some of CD that buyers fall for flip jobs *because* they don't want to live in a construction zone and everything must be turnkey. However I'm sure you're also correct, as there are both types of buyers. But I'm not sure you can overlook something like an illegal kitchen, which may hinder getting a loan and once the second kitchen is discovered, I believe the buyer immediately inherits the problem. Before demo can be done. That's why -- and I know CD hates this-- I'd only put in an offer contingent on buyer removing stove and capping gas line before our acquisition.
Combined with the below concerns you have now added an additional kitchen. You will never buy with all these obstacles. I suggest you find a piece of land and have your dream home built the way you want it, pool and all. That way you won't have to pay for someone else mistakes.
Can we put an IG pool in?
How much will IG pool raise our taxes?
Can we knock out a wall / build dormers, etc?
Can we plant or remove trees from property?
Can we build a garage / second garage?
Your posts keeping getting more unhinged. You take isolated incidents and make them into systemic maladies. You are like someone who comes into a movie near the end then starts squawking about how bad it sucks, even though everyone else has their own take on it, a more thorough, full scale picture of it, not an angry rant based on wanting something you can't find and are being petulant about.
If it has an illegal kitchen one of these things happens:
1. The buyer moves on
2. The seller fixes it and gets the CO or provides escrow to fix it.
3. The seller and buyer make a deal on how to resolve it.
4. The buyer buys it anyway because ITS A SELLERS MARKET!
IF you had a clue about context and history (or just had a clue), you'd understand that pre-2008 crash, lenders were rubber stamping mortgages at warp speed. They didn't stop for 2nd kitchens and baths, sheds, fences, pools, etc. Just said show me some pay stubs and here's your loan. LTV? "Nah, who cares?!" AFTER the crash, lending dried up. Foreclosures still backlogged. ANY, and I mean ANY code deviance that might hinder getting a CO would stop any mortgage in its tracks. Lenders would not lend without clean titles and CO's period. We are just now coming out of that so this big buyers market that has you so flummoxed is actually only a few years strong and lenders slowly getting back in. Pre the crash, the mortgage industry dominated Rte 110 in Melville and provided thousands of jobs. That entire industry imploded in 2008-2010. GAP was implemented which slashed school funding. The RE market was at a crawl. It was a dry, barren, weak market and homes were priced 20% lower than now. If you were looking THEN, your entire perspective might be different that it is now.
That is why you get so much flack. You lack insight into your own posts and go off on odd tangents, then snipe at anyone who points it out.
Thanks for the context. It is interesting insight. It doesn't make it any less frustrating for me as a buyer, nor does it make my perspective coming into this mess now less valid.
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No thanks, not interested. We've encountered 4 stagnant listings with this issue (all ranches with a kitchen in the basement for their useless adult offspring.) I can't understand why, if they're close enough to live in the same house with relative, they can't share a stove. Is it really necessary for both to be cooking at the same time? Also, why not take the second stove when you sell?? If you're downsizing, sell it to offset the cost of capping the gas line. Instead of trying to sell a 470,000 piece of real estate with a tax / zoning illegality. Regardless, it's unlikely that anyone looking to buy 1030 SF will want to share that space and pay dearly to do so. I don't even want to share the space with the second stove, let alone another person to use it.
