Question:
We have a bedroom in our basement. The appraiser said it is not a
bedroom and our home appraised at less than sale price. How could they say it
is not a bedroom when we have beds in there and our sons slept there for 13
years? We are furious!
Answer:
I understand your frustration. You have a nice home, both parties agreed
to the sale price, you made it through the home inspection and everyone is
happy. Then the appraiser steps in and ruins this perfect deal.
Although your home obviously has a bedroom in the basement, it does not meet the bedroom criteria that an appraiser uses. This may vary from state to state, but generally a bedroom is considered a bedroom by an appraiser if it has 2 ways of egress (door and/or window). The bedroom must be at least 70 sq. ft, and it cannot be smaller than 7 ft in any horizontal direction. Sorry, that 2’x35’ room is not a bedroom. The escape window or door must be at least 5.7 sq. ft for an opening.
But
guess what? It doesn’t need a closet according to the appraiser! NOTE: It would be a
good idea to put at least an armoire in that bedroom to satisfy your buyer.
The
Conclusion: It may look like a bedroom, it may have a bed like a bedroom and
you sleep in it like a bedroom, but according to the appraiser, it doesn’t
quack like a bedroom.
Thinking of Selling? Call Cathy & Jim
Higgins for a Market Evaluation on your Home:
Ind: 219-577-5905 Ill: 708-828-3304.
Licensed Broker/Realtors in Indiana &
Illinois
McColly Real Estate
Website: www.Cathyhiggins.com
