The answer to the question, “What is an open permit?”. Well initially a permit is where you go to any state and they have requirements of how or when you can do additions to your property that you have and they give you a permit. Means everything is okay to do so, you have met all the requirements, everything that they need to give you a yes for that permit. You have the diagram drawn up. You have an architect. You have all these people who assist in getting whatever additions you need done to give you what you need to get this permit approved.
An open permit is one that is not approved. That’s pretty much it. An open permit means someone decided to do additions to the house but they did not get full authorization from the county or that state to make those additions, make those changes. So there will be stuff needed to be completed. There will be some costs to get these permits closed out and it can either be done by the seller who is doing it or by the buyer who wishes to purchase the property. So I guess it really depends on who wants to pay this and who wants to invest in the property at that particular time. Knowing that there are open permits because that usually requires some financial input to get that permit closed.