Getting Correct # of Bedrooms Updated for Cashout/Appraisal

Getting Correct # of Bedrooms Updated for Cashout/Appraisal

Investor · Meriden, CT · Member since 2020 · 35 posts · 22 votes

Purchasing a triplex that clearly, by all legal definition, has 7 bedrooms. Arguably 8, but I'll let one slide without any debate. Town record shows the property as a 5-bedroom. My question really here is: What's the best way to get the record to reflect the correct # of bedrooms. 

WHY?! Because I KNOW that appraisals are subject. Some appraisals will count it as 7 beds when they walk through, some will take pictures of 7 beds and still mark it as 5-beds because the town card says so. I'm planning a cashout, and the bedroom count will make a significant difference. 

Appreciate any insight!  

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  • Bob ReinhardBusiness Member
    Lender · Patterson, NY · Member since 2017 · 488 posts · 186 votes
    4y

      This might vary by municipality. For example, in my town any room with a closet is considered a bedroom for Assessment purposes . This can lead to illogical results but ... What is it in the town at issue? Find out and if favorable use that to your advantage. If not , leave it to the appraisal where it cannot really be more 'detrimental '     Bob  

  • Meriden, CT · Member since 2018 · 699 posts · 500 votes
    4y

    In general, municipalities have a few requirements (outside of closets) that dictate whether or not a property can have a certain number of bedrooms.  They are septic systems (you design a septic for the number of people that will be using it), parking (I think most CT municipalities due it by units, but there could be bedroom requirements), and egress restrictions for fire compliance (if only two exits, no exit can be through a bedroom because of potential obstructions).  There may be more but those are the ones I've personally experienced.  

    The correct answer in all of this is to call the town and tell them that there are more bedrooms in the property and you'd like to understand how to get the tax card updated appropriately.  You may have to pull a permit and have the building department inspect.

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