Fun With Lending in San Francisco

redue by pbo31.

Uploaded by pbo31

Thinking of doing some work to your San Francisco home? Feel like getting a permit for the work will just be too much of a headache?  Well think again.
That permit might cost you a a couple bucks, and you might jump through a couple of hoops to get it, but my advice – suck it up, baby, get that permit and get it NOW!
If you ever plan on selling that SF property, a lack of a permit may equate to the lack of a sale.
The latest scoop from an local lender:

Bottom line, any upgrades done on a property must be done with permits.  [We have] run into this with BofA retail.  This will be a VERY BIG deal coming down the road with all lenders and could cause all of us problems with the unpermitted work done in SF.  (The emphasis is mine.)   Just more fun in the lending world.

So – if getting a loan on a home in San Francisco (or anywhere else for that matter) hasn’t been hard enough already these days, just wait – it CAN and apparently WILL get even harder.

Luba

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