12-07-2012 10:46 AM
I'm in contract to buy a bank owned house. A trip to the county building dept discovered there were 2 expired building permits that do not have final inspection. I have no way of knowing the exactly details of those permit. County record indicates the permits were issue 10 years ago. They can not tell me what is will cost to renew the permit or if there's any fines or penalties until they can pull the original records. It will take 10 days to get those records. I only have 3 more days to decide and remove all buyer's contigencies. The real estate agent declined to help or make any comments.
12-08-2012 01:11 PM
What were the permits for? That matters. Do you have a seperate buyers agent or are you using the listing agent.
Expired permits could be a big deal or nothing. There was one on a house we bought for a parking deck that was never built. A room addition built without a final inspection could be a problem.
You could ask for an extension pending receiving the permit information. Submit copies of the documents that show that the permits were not finalized with the request. This notifies the seller that they could have the same problem with the next buyer.
You could wait until the seller issues a notice to perform.