Permits: What You Need to Know (and Do They Even Matter?)

Permits. Lethbridge REALTORS® have a love-hate relationship with them. We love it when they’re done right. We hate it when they hold up a deal. Much like Real Property Reports, these spend-y pieces of paper should be discussed before listing your home.

Development permits are required by municipalities to ensure real estate improvements are built safely and to code. This process takes time, requires documentation, and costs money. Many do-it-yourself types, however, see no need to give the City their pound of flesh, so they simply build whatever they want and skip the permitting process entirely. Others, simply don’t realize that a permit is required in the first place.

This oversight—intentional or otherwise—inevitably causes problems down the road when it comes time to sell your home. This is because the residential purchase contract requires the seller to disclose any known lack of permits. Make no mistake, some buyers take issue with homes that were not updated to a known and widely accepted standard.

Bottom line: skipping out on permits may put the value of your home at risk.

Watch my video below to learn more about this growing challenge in the Lethbridge real estate market. Then schedule a call to find out the right plan for selling your home!