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WRONG NUMBER OF BR

MLS indicated 3 BR but inspector reported 2 BR and trunk room
What should I do as buyer I need 3 BR 
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October 17 2013 - US
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Answers (4)

Best Answer
If you are still within your inspection contingency period you can terminate the contract based on inspection results.  Your real estate agent can advise you and prepare the necessary docs for you.

The number of bedrooms also affects the value.  If price is based on 3 bedrooms and it turns out to be only two the value could be significantly less once appraised.

If you have past your inspection contingency period you should still have a mortgage contingency in the contract.  Read your contract carefully and let your agent guide you.  If the home does not appraise you can exit the contract at that time, but you will be out the fee for appraisal.
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October 19 2013
Go over this with your Realtor, they will know your contract and what options you have. 
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October 19 2013
It sounds as though one of the advertised bedrooms isn't a conforming bedroom, though the previous owners USED it as a bedroom. It's a very common topic of conversation.
Just because it isn't conforming doesn't mean you can't use it as a bedroom. This sometimes means that if there isn't proper emergency egress (an escape route), and someone perishes or is injured because of that, your insurance company will not pay out on any claim.
The issue is: what will it take to make it a conforming bedroom and can you renegotiate the sales price to give credit for losing the third bedroom?  Make the bedroom conforming yourself with the credit from the seller.
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October 17 2013

In Colorado a room must have a closet and a window to qualify as a bedroom. 

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October 17 2013
 
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