Orange County Home Boasts Bonus Room in the Garage - Will This Fly for FHA Financing?
Posted by Leslie Eskildsen on Monday, November 16th, 2009 at 8:43pm.
While I was
out with one of Winner's
Circle clients today, we looked at a house for sale in Laugna
Niguel which has been on the market in Orange County for over a year. It
has reportedly been in escrow twice and fallen out both times. Maybe the
third times the charm for this Orange County home! It's a Short
Sale and the owner's have pretty much abandoned it. The glass in the
front door is broken, he lawn is dead, several large trees are dead, and it
really looks sad. There is trash all around, bird's nests in the rafters
and of course, bird poop, and random pieces of furnture like a bunk bed inside
and a crib in the back yard. Which really has no bearing on the home -
but still makes it look sad.
The floor
plan is great. The yard is awesome - room to park an RV on the side
yard. And the surrounding neighborhood is outstanding. The big
concern is the two room addition in the garage. Seriously. And I
mean, it looks like someone was living in the two room addition in the garage,
based on the things left behind in one of the rooms.
But here's
the deal - all of this is apparently unpermitted. Can't see how it'd pass
the Orange County Permitting process - it is certainly not included in the MLS advertised square
footage of living space. And it is drywalled and has windows that are six
inches away from the garage door. The roll-up garage door with window -
so there is light. And there's a French Door leading into
the home and one to the back yard. It has elecrtical outlets -
feeding off of the ceiling of the garage. And cable connections -
not missing anyting on TV out in the garage!
Well, we'll
see if there is any way this will pass an FHA appraisal. We'll certainly
run it past Madhvi's lender, Janice
Eckles, and see what she says. One option may be an FHA 230K which
allows people to borrow the money needed to make repairs.
I'll keep you posted on other interesting stories of Orange County homes for sale and buyer and seller experiences. Always remember, you can love where you live.
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