Engineers/contractors

[mike92104]

Thanks Rustico! I wouldn’t mind living in a house without the permits, but an abatement has been filed (garage too close to property line and a shopping list of non permitted work), so code compliance is a must. I have talked to the code enforcement inspector (who seemed rather helpful for a city employee) and asked if the work could be permitted after the fact and she said possibly. She went on to ask if I was in construction, and I said no. I wish I would have said yes because it seemed like she was going to give me some good info, but backed off on the no and recommended I get a contractor or engineer to advise me. I’m definitely not jumping into this without a damn good idea of what to expect. Like I said it’s a house we like, and I’m willing to do some research. If someone else picks it up before me then I learned quite a bit for the next house with it’s issues (seems like everything I look at has one) Is there a contractor, or someone else you would recommend? I don’t want to just start gong down the list in the phone book.

[EconProf]

Whatever Mike92104 does with this, there is a lesson here for all of us.
Non-permitted work, esp. if there is an abatement order outstanding, can seriously erode the value of a property. Beware of handyman projects, especially additions, that the owner/seller thinks have added to the value of the house. More likely it has subtracted value. Mike is talking here about an engineer, draftsman, contractors, etc., all costing money and time to fix the problem. The seller would have gained so much more by getting the work permitted in the first place. Then, when selling, he can say “all work permitted”, show the paperwork, and make it a selling point. The work would probably be better too.
One last point: when negotiating to buy such a property, add a clause stating seller must bring up to code. Let him or her research it to discover the high cost of compliance. They may not fix it all, but will have to accept a much lower price to sell it as is.

[EconProf]

Whatever Mike92104 does with this, there is a lesson here for all of us.
Non-permitted work, esp. if there is an abatement order outstanding, can seriously erode the value of a property. Beware of handyman projects, especially additions, that the owner/seller thinks have added to the value of the house. More likely it has subtracted value. Mike is talking here about an engineer, draftsman, contractors, etc., all costing money and time to fix the problem. The seller would have gained so much more by getting the work permitted in the first place. Then, when selling, he can say “all work permitted”, show the paperwork, and make it a selling point. The work would probably be better too.
One last point: when negotiating to buy such a property, add a clause stating seller must bring up to code. Let him or her research it to discover the high cost of compliance. They may not fix it all, but will have to accept a much lower price to sell it as is.

[EconProf]

Whatever Mike92104 does with this, there is a lesson here for all of us.
Non-permitted work, esp. if there is an abatement order outstanding, can seriously erode the value of a property. Beware of handyman projects, especially additions, that the owner/seller thinks have added to the value of the house. More likely it has subtracted value. Mike is talking here about an engineer, draftsman, contractors, etc., all costing money and time to fix the problem. The seller would have gained so much more by getting the work permitted in the first place. Then, when selling, he can say “all work permitted”, show the paperwork, and make it a selling point. The work would probably be better too.
One last point: when negotiating to buy such a property, add a clause stating seller must bring up to code. Let him or her research it to discover the high cost of compliance. They may not fix it all, but will have to accept a much lower price to sell it as is.

[EconProf]

Whatever Mike92104 does with this, there is a lesson here for all of us.
Non-permitted work, esp. if there is an abatement order outstanding, can seriously erode the value of a property. Beware of handyman projects, especially additions, that the owner/seller thinks have added to the value of the house. More likely it has subtracted value. Mike is talking here about an engineer, draftsman, contractors, etc., all costing money and time to fix the problem. The seller would have gained so much more by getting the work permitted in the first place. Then, when selling, he can say “all work permitted”, show the paperwork, and make it a selling point. The work would probably be better too.
One last point: when negotiating to buy such a property, add a clause stating seller must bring up to code. Let him or her research it to discover the high cost of compliance. They may not fix it all, but will have to accept a much lower price to sell it as is.

[EconProf]

Whatever Mike92104 does with this, there is a lesson here for all of us.
Non-permitted work, esp. if there is an abatement order outstanding, can seriously erode the value of a property. Beware of handyman projects, especially additions, that the owner/seller thinks have added to the value of the house. More likely it has subtracted value. Mike is talking here about an engineer, draftsman, contractors, etc., all costing money and time to fix the problem. The seller would have gained so much more by getting the work permitted in the first place. Then, when selling, he can say “all work permitted”, show the paperwork, and make it a selling point. The work would probably be better too.
One last point: when negotiating to buy such a property, add a clause stating seller must bring up to code. Let him or her research it to discover the high cost of compliance. They may not fix it all, but will have to accept a much lower price to sell it as is.

[NotCranky]

O.K. Mike Try Alex Wong, 619-282-2767. He is a structural engineer . He might have someone in his office to do the leg work. I talked with him and he said go he would be glad to take your call.
I’d like to have the possibility of doing something like this but I just don’t have the optional time right now.

I agree completely with most of what you posted. The fuzzy area is the last point:

“One last point: when negotiating to buy such a property, add a clause stating seller must bring up to code. Let him or her research it to discover the high cost of compliance. They may not fix it all, but will have to accept a much lower price to sell it as is.”

While this is a good potential strategy there are just way to many instances where the seller’s can’t or won’t do it and are going to sell “as is”. I think someone with a good entrepreneurial mindset and a lot of energy can do well finding latent potential in situations like this this with all the distress involved and making good of it .This could mean making a good business opportunity or just getting a property that has something that was desirable about it(in the eye of the beholder) but was otherwise out of reach and was a dead deal if anything is left to the seller to do .

[NotCranky]

O.K. Mike Try Alex Wong, 619-282-2767. He is a structural engineer . He might have someone in his office to do the leg work. I talked with him and he said go he would be glad to take your call.
I’d like to have the possibility of doing something like this but I just don’t have the optional time right now.

I agree completely with most of what you posted. The fuzzy area is the last point:

“One last point: when negotiating to buy such a property, add a clause stating seller must bring up to code. Let him or her research it to discover the high cost of compliance. They may not fix it all, but will have to accept a much lower price to sell it as is.”

While this is a good potential strategy there are just way to many instances where the seller’s can’t or won’t do it and are going to sell “as is”. I think someone with a good entrepreneurial mindset and a lot of energy can do well finding latent potential in situations like this this with all the distress involved and making good of it .This could mean making a good business opportunity or just getting a property that has something that was desirable about it(in the eye of the beholder) but was otherwise out of reach and was a dead deal if anything is left to the seller to do .

[NotCranky]

O.K. Mike Try Alex Wong, 619-282-2767. He is a structural engineer . He might have someone in his office to do the leg work. I talked with him and he said go he would be glad to take your call.
I’d like to have the possibility of doing something like this but I just don’t have the optional time right now.

I agree completely with most of what you posted. The fuzzy area is the last point:

“One last point: when negotiating to buy such a property, add a clause stating seller must bring up to code. Let him or her research it to discover the high cost of compliance. They may not fix it all, but will have to accept a much lower price to sell it as is.”

While this is a good potential strategy there are just way to many instances where the seller’s can’t or won’t do it and are going to sell “as is”. I think someone with a good entrepreneurial mindset and a lot of energy can do well finding latent potential in situations like this this with all the distress involved and making good of it .This could mean making a good business opportunity or just getting a property that has something that was desirable about it(in the eye of the beholder) but was otherwise out of reach and was a dead deal if anything is left to the seller to do .

[NotCranky]

O.K. Mike Try Alex Wong, 619-282-2767. He is a structural engineer . He might have someone in his office to do the leg work. I talked with him and he said go he would be glad to take your call.
I’d like to have the possibility of doing something like this but I just don’t have the optional time right now.

I agree completely with most of what you posted. The fuzzy area is the last point:

“One last point: when negotiating to buy such a property, add a clause stating seller must bring up to code. Let him or her research it to discover the high cost of compliance. They may not fix it all, but will have to accept a much lower price to sell it as is.”

While this is a good potential strategy there are just way to many instances where the seller’s can’t or won’t do it and are going to sell “as is”. I think someone with a good entrepreneurial mindset and a lot of energy can do well finding latent potential in situations like this this with all the distress involved and making good of it .This could mean making a good business opportunity or just getting a property that has something that was desirable about it(in the eye of the beholder) but was otherwise out of reach and was a dead deal if anything is left to the seller to do .

[NotCranky]

O.K. Mike Try Alex Wong, 619-282-2767. He is a structural engineer . He might have someone in his office to do the leg work. I talked with him and he said go he would be glad to take your call.
I’d like to have the possibility of doing something like this but I just don’t have the optional time right now.

I agree completely with most of what you posted. The fuzzy area is the last point:

“One last point: when negotiating to buy such a property, add a clause stating seller must bring up to code. Let him or her research it to discover the high cost of compliance. They may not fix it all, but will have to accept a much lower price to sell it as is.”

While this is a good potential strategy there are just way to many instances where the seller’s can’t or won’t do it and are going to sell “as is”. I think someone with a good entrepreneurial mindset and a lot of energy can do well finding latent potential in situations like this this with all the distress involved and making good of it .This could mean making a good business opportunity or just getting a property that has something that was desirable about it(in the eye of the beholder) but was otherwise out of reach and was a dead deal if anything is left to the seller to do .

[EconProf]

Rustico, my point was that many sellers delude themselves into thinking their property is worth more than the market says because they “improved” it in some half-assed way. To bring them down to earth, they should discover on their own what remediation involves.
You are quite right that there could be opportunity in such cases. Especially if buyers have spurned properties with these handicaps and they are priced accordingly.

[EconProf]

Rustico, my point was that many sellers delude themselves into thinking their property is worth more than the market says because they “improved” it in some half-assed way. To bring them down to earth, they should discover on their own what remediation involves.
You are quite right that there could be opportunity in such cases. Especially if buyers have spurned properties with these handicaps and they are priced accordingly.

[EconProf]

Rustico, my point was that many sellers delude themselves into thinking their property is worth more than the market says because they “improved” it in some half-assed way. To bring them down to earth, they should discover on their own what remediation involves.
You are quite right that there could be opportunity in such cases. Especially if buyers have spurned properties with these handicaps and they are priced accordingly.

[EconProf]

Rustico, my point was that many sellers delude themselves into thinking their property is worth more than the market says because they “improved” it in some half-assed way. To bring them down to earth, they should discover on their own what remediation involves.
You are quite right that there could be opportunity in such cases. Especially if buyers have spurned properties with these handicaps and they are priced accordingly.

[Author]

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