Tax assessed vs listing number of bedrooms

[Peter Litsas]

Hello,

I am looking at a house that is listed as a 5/2 (finished basement), 2000sqft, but the tax assessment has it as 3/2 1000sqft.

I suspect no permits were pulled on the basement, but the seller says the house was bought that way in 1973.

The question is what would be the liability of purchasing? Is it a big risk? Should I be offering based on the tax assessment? And finally how will the bank see it for a conventional mortgage.

They are asking 180k, which is very reasonable for five bedrooms, but not for three.

Side note, will be my first home purchase.

Tia

Peter