Inconsequential alterations impact a property owner if local governments deem it’s unlawful. Mortgage Street works with brokers whose clients are property owners.

How it Impacts the Property Owner

Making improvements to residential properties is a natural progression that most homeowners complete. A property begins to show wear and tear over time. Their family might grow, so there’s a need for additional rooms or dedicated spaces. A potential problem occurs when alterations are made to the property, but the proper permits were not obtained first.
Installing new windows, adding a shed, or upgrading a porch qualify as inconsequential alterations. They seem innocent and necessary, but local governments and zoning play an administrative role. Governments must keep up with home renovations, remodels, and upgrades because they often put more strain on local utilities, public services, and traffic. Improvements to the property also raise a property’s value, and by extension, the taxes.
Brokers who have clients that are property owners or want to become property owners should know the impact of inconsequential alterations. If a client wants to make changes, it’s a good idea to procure the proper permits ahead of time. Whether or not their plans get approved could be the difference between securing financing or not.
Before purchasing a property, it’s important to complete due diligence. The property could already be violating a zoning law. A previous owner may have built a garage that’s beyond their property line and into another. There’s no statute of limitations on these cases.
If your client purchases a property that consists of a zoning issue, they become liable for the corrections as the new owner. They also become liable for legal costs and administrative fees in addition to the time it takes to satisfy the zoning regulation.

Inconsequential Alterations Conclusion

Our Mortgage Street team takes the time to get to know the goals of brokers and their clients. We have team members who know how inconsequential alterations impact a property and financing. For more information, give us a call.