Bathroom in basement

We're going to be listing our house soon but we're getting conflicting information about the bathroom in the basement. When we bought our house, it was listed as 3 bed 1 bath but in reality it's 4 bed 2 bath. The basement is renovated but not CO'd. We had no trouble getting the bank approval for the house (and frankly over paid for what it was worth at the time).

Now that we're going to sell, some realtors tell us no CO will be an issue and to list as 3 bed 1 bath but other (local) realtors tell us to list as 3 bed 2 bath.

What's the reality of selling a house that isn't CO'd? We'd prefer not to go through the time and expense to have it done - especially since we know it's possible to sell since we had not trouble when we bought it.

Re: Bathroom in basement

I would not list any beds/baths in the basement if they are not CO'd. My realtor, who is also a close family friend, has a bathroom in his basement that is not CO'd and he told me if he ever lists his house, it will be w/o including that bath. We want to put a bathroom in our basement too and will probably not go the CO route bc our taxes are already ridiculously outrageous and I don't want them to increase. I wouldn't include it in a listing either.

Bathroom in basement

if you don't have a co and don't want to get one I would not list it as a 2 bath. A good realtor should ask if there is a co and advise their clients accordingly.
Not sure what else you have done to your house but be careful opening a can of worms. If an inspection comes for one thing who knows what else they will see.

Bathroom in basement

We were thinking that but thought it was weird that someone would say list it. What's the likelihood that having a non-CO'd bathroom would cause a problem with someone trying to pass the appraisal and get the mortgage? We don't want to agree to an offer then 3 weeks later they can't get the money bc the bank doesn't like the non-CO'd bathroom. At that point, we'd loose weeks of the house on the market.

Re: Bathroom in basement

As a buyer, I will not consider a house that has any co issues. Not all banks will look the other way. You do not want to delay closing or lose a sale because of it, especially if you are on a time schedule.

People either apply for a co or they "get rid of" the bathroom by putting up Sheetrock when the time comes for inspection.

Re: Bathroom in basement

Bathroom in basement

My brother just bought a house with a finished basement with bathroom and no CO. It was in the listing and they had no issues at all. Sellers were upfront about it. Thier attorney said it's done all the time with no problems.

Re: Bathroom in basement

Many banks will require the CO to be closed out before they close on the house.

Bathroom in basement

most basement bathrooms do not have a CO and usually have no problems

Bathroom in basement

We bought our house with a bathroom in the basement and knew prior that it didnt have a CO. That wasnt a concern for us but it all depends on your buyer.

Re: Bathroom in basement

Bathroom in basement

Thanks all! DH is nervous about it causing problems since we'll be moving (probably before the house really sells). We've never had trouble selling our houses before, and he's always freaking out leading up to putting it on the market ..... and we always get an offer in the first weekend. :D

Re: Bathroom in basement

A basement bathroom without a C/O will past muster with most banks.

There are certain things - extensions, dormer, garages - that will almost always mean the seller has to get a C/O (if the buyer is getting a mortgage, but even a cash buyer may not be willing to waive).

A basement bathroom is not a huge deal to most banks. It's very common for basement baths not to have C/Os.

I would not list it as a 2 bath; I'd list it as a one.

On Long Island, buyers who insist that they would make a seller get a C/O for every item and in every scenario are just not being practical, especially in this market.

When I'm working as a seller's agent, if the seller doesn't want to get a C/O, I make it clear to everyone (buyers, buyers' agents) upfront that it's an issue. That way, they can factor it into their offer, or not make an offer at all.

As a buyer's agent, I advise my buyers differently depending on the circumstances. If it's something major (or integral to the house, that can't be removed), I'd advise the to insist that the seller get C/Os (especially if a variance may be required, etc.).

But if it's something minor - a deck, shed, above ground pool, basement bath - I would probably advise my buyers to overlook it but NOT give any value to the item that isn't legally done with C/Os. But if it's something that can be removed - like a basement bath - a buyer can always take it out if they later decide to sell and don't want to get a C/O.

To the OP - if you were a potential client, I'd advise you to consult with an expediter and get a cost estimate as to what it would take to get the C/O for the bathroom. I recommend an expediter who does a free consultation (several do). Then you can weigh the cost benefit.

Honestly, the cost of getting the C/O (assuming the bathroom can be legalized) is probably LESS than the additional $$ you can get by listing your house as a 2 bath versus a 1. In other words, the cost of getting the C/O is likely outweighed by the benefit of attracting more buyers to your home and increasing the value.