I am so proud of myself today. I pulled a tool out of my real estate tool box today that I have not had to use in a very long time. Long story short…. we have a home under contract with a closing date that is scheduled at the end of this week. Appraisal came back around $30,000 under the asking price. There were also a couple of errors in the appraisal as well, I don’t know where they find these guys.
However, there was square footage in the home that was never added to the property appraiser page as being under air so yesterday I contacted appraisers office, sent photos and all the facts about the situation, and as of tomorrow we will have 100 square feet added to the under air square footage raising the value of the property by more than the $30K that we need to meet the appraisal. This is kind of the short version, but I can’t tell you how many houses we have raised the profit on by using this one tool over the years.
The biggest deal that we had to use this tool on years ago was one where a seller did a garage conversion into living space to the tune of 800 square feet without filing any permits. He did have the blueprints though. We ended using an engineer to get us through this one and the seller paid for the whole thing within her her contract with us. It raised the sellable value of that home by over $100K Folks you need to take the time to learn every single legal trick in the book to get the most profits out of your deals. I am a happy camper.
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