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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Can a lender pull plug on financing if there are illegal additions? Posted by Alfred -- SoCal on January 26, 2010 at 11:48 AM No experience with this because my past rehab projects have always been clean and straight forward. There is an REO duplex which is a potential buy in LA but there are some non-permitted or illegal additions (laundry room, closet of master bedroom and shower of master bath are extended out onto the balcony... and, there is a garage converted into a bedroom, non-permitted I'm sure, that has a lot of water damage in floor and lower walls, because driveway slopes down towards it.) If a buyer's lender becomes aware of illegal additions could they halt the financing or is it just up to the buyer? Even if I cleaned these additions up, could they prevent a sale from occuring? Also, could I be forced to tear all of this out and put the house back to its original permitted configuration? Any other feedback or experience would be appreciated. Thanks in advance. Follow Ups: Re: Can a lender pull plug on financing if there are illegal additions? Diahanne 3:04 PM, 05/12/10 (0) Re: Can a lender pull plug on financing if there are illegal additions? CCinOC 10:24 PM, 01/26/10 (0) Re: Can a lender pull plug on financing if there are illegal additions? Greg Sharp 4:47 PM, 01/26/10 (0) Re: Can a lender pull plug on financing if there are illegal additions? DaleT 4:38 PM, 01/26/10 (3) Bankster's low integrity exposed. We bailed and cancelled escrow. Alfred--SoCal 3:19 PM, 01/27/10 (2) Re: Bankster's low integrity exposed. We bailed and cancelled escrow. Diahanne 8:59 AM, 04/23/10 (0) Re: Bankster's low integrity exposed. We bailed and cancelled escrow. bukzin 5:52 PM, 01/27/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : No experience with this because my past rehab projects have always been clean and straight forward. : : There is an REO duplex which is a potential buy in LA but there are some non-permitted or illegal additions (laundry room, closet of master bedroom and shower of master bath are extended out onto the balcony... and, there is a garage converted into a bedroom, non-permitted I'm sure, that has a lot of water damage in floor and lower walls, because driveway slopes down towards it.) : If a buyer's lender becomes aware of illegal additions could they halt the financing or is it just up to the buyer? : Even if I cleaned these additions up, could they prevent a sale from occuring? : Also, could I be forced to tear all of this out and put the house back to its original permitted configuration? : Any other feedback or experience would be appreciated. Thanks in advance. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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