Paper Trails

Started by pioneergal, July 20, 2007, 07:31:08 PM

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pioneergal

A friend was visiting in our home today and mentioned something that has created a question of concern in DH's mind.

We are building our home "out of pocket" no ouside financing with a loan institution.
The question is .....
Should and if we ever decide to sell does this create a problem since there is no paper trail such as a title or etc.?

I have saved every receipt of purchased materials and etc  in the building process.

Has anyone ever had a problem selling a home that you built in this manner?
Advice anyone?

glenn-k

#1
Not a problem.  You are going to price it based on like properties - have it appraised if necessary.  Your labor must be compensated and will be even though you have no receipts for it either.  Like value pricing will take care of that.  

The assessor would be the one most interested in that but they have absolutely no right on your property (you can always refuse entry to an assessor) and will likely bill you some arbitrary rate any way.  This is where your reciepts could come in handy to prove that you paid far less than what they are taxing you for since you did the work yourself.

There is no law requiring you to ever let an assessor on your property.

I know -- TMI.  :)