You may have challenges financing it. If the appraiser finds a difference between the tax roll and stated square footage he may want to see permits. If there are no permits then it will depend on the loan. Certain conditions to guidelines, for instance FHA and even FNMA for conventional loans demand work be permitted for the additional square footage to be included in the appraised value. Some in house loans do not require it though. To be safe talk to your mortgage broker and let him know the situation with the square footage. It may be an issue when you go to resell as well. I am not saying don’t get the place, just be aware.
