House listed as 4 bedrooms but only 3 are legal

[Anonymous]

Anonymous wrote:

Anonymous wrote:You don’t ask for a discount. You pay full price but demand that money be put in escrow to convert the room into a legal bedroom.

If it is in a basement, that might not be possible.

You would just have to create an egress window. Very common.

[Anonymous]

Where are you? Because pretty much every single "4 bedroom" house in N. Arlington is really a 3 bedroom with an office or a den.

[Anonymous]

What is the open permit for? Cutting the basement foundation to make an exitable window? That can be hard and depending on where grade level is, leak.
You are buying a 3 br house with an office. Look at comps and pay accordingly because your mortgage lender sure will know the difference.
Walk away or get a big price reduction. The seller lied, the listing agent lied, and unless there is ongoing construction the "permit" is lipstick on a pig.
We have a 3 br house. The 3rd br is off the living room.
There are 2 big rooms in the basement that are not legal bedrooms. If we list, it's 3 br not 4 or 5.

[Anonymous]

Anonymous wrote:

Anonymous wrote:To be fair, I would've known that instantly by looking at the window. Also why didn't your realtor or you call about open permits? These are basics.

Yeah, you should have caught that on your own OP. Is this the first time you’re buying a house?

Ok Daddy Warbucks. Not everyone on DCUM has bought a dozen houses. OP, you have an opening to negotiate a lower price or drop the house.

[Anonymous]

Anonymous wrote:We are in a crazy situation. We are closing in 2 weeks and the seller informed us that the 4 bedroom we put an offer on only has 3 legal bedrooms. The window in the 4th room doesn't meet egress requirements and the seller won't be able to turn into a "legal" room within the next 2 weeks. They have an open permit for it.

Personally that's not a reason for us to walk away. We like the house and the neighborhood and the price was great. Our realtor is useless. How much discount can we ask for?

And could this affect our loan? We already have the CTC. Anyways we will bring to our LO.

You can ask for whatever you want. They'll refuse. So, are you going to close or naw?

It isn't like you have any recourse or anything. Did you think you did?

[Anonymous]

OP is your realtor a buyers agent? If not they need not put your interests first, they and listing want sale to go through no matter what to get the commission.

[Anonymous]

I'm surprised the listing and subsequent offer went this far without this coming up sooner.

[Anonymous]

You need a big discount.
They need to lower price to make up for that error by at least 25%.

[Anonymous]

Anonymous wrote:You need a big discount.
They need to lower price to make up for that error by at least 25%.

lol. 25 percent? OP has no contractual mechanism to void the contract. And it is highly unlikely that it will affect the appraisal.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You need a big discount.
They need to lower price to make up for that error by at least 25%.

lol. 25 percent? OP has no contractual mechanism to void the contract. And it is highly unlikely that it will affect the appraisal.

I agree 25% is absurd, but the sale could absolutely be cancelled for misrepresentation and it will have an effect on the appraisal amount.

About $20k-30k seems about right.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You need a big discount.
They need to lower price to make up for that error by at least 25%.

lol. 25 percent? OP has no contractual mechanism to void the contract. And it is highly unlikely that it will affect the appraisal.

I agree 25% is absurd, but the sale could absolutely be cancelled for misrepresentation and it will have an effect on the appraisal amount.

About $20k-30k seems about right.

Common now $20k for extra bedroom lol?

[Anonymous]

Anonymous wrote:You need a big discount.
They need to lower price to make up for that error by at least 25%.

We are on the market and of course would love a great deal. But you are simply ridiculous. If anyone suddenly give me 25% off a bunch of antennas will be going up red flag red flag red flag

Just an extra bedroom not a big deal. $10k credit is fair.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You need a big discount.
They need to lower price to make up for that error by at least 25%.

lol. 25 percent? OP has no contractual mechanism to void the contract. And it is highly unlikely that it will affect the appraisal.

I agree 25% is absurd, but the sale could absolutely be cancelled for misrepresentation and it will have an effect on the appraisal amount.

About $20k-30k seems about right.

Common now $20k for extra bedroom lol?

Bedrooms are pretty fundamental parts of houses. The number of bedrooms is usually the main requirement buyers have.

[Anonymous]

Yes! Look at listings.
I would be very suspicious. Homeowners are shady, realtors are shady, the "permit" stuff is bullsh#t, and who knows what else is lurking wrt to structure, maintenance, grading of lot and waterflow. Get really really good inspections if you still want this. I would walk away because it was misrepresented.

In 22205 a 4th bedroom adds $30k or more to house value.