Re: finished Basement/CO issues/ House purchase

our lawyer informed us that there was no CO for the bathroom in the basement and I think the steps lead down into the basement from the outside. We also have a kitchen in the basement, but nothing was mentioned about that. He told us the only way it would become a problem is if we go to do more work on the house one day and the town sees it during inspection, then we'll have to deal with it. Nothing was said about anything at closing and we went through with the deal. Our RA (DH's aunt) told us most of the renovations she has on her house do not have a CO either.

Re: finished Basement/CO issues/ House purchase

As PP said, the most important things to consider with this house are:

1. If you buy the house without the CO and you try to sell in 5, 10 years, YOU may be on the hook for the cost of the CO.

2. If you do any renovations to your home in the future, when the town comes in to inspect, you will be the one that has to pay for the costs of the CO for the bathroom and any associated fines.

I just had a similar situation with my clients. I didn't want my clients to buy the house without the CO, they wanted the house and the seller was unwilling to get the CO. I worked out an agreement with the seller's attorney. We agreed to close on the house so long as an agreed upon amount of money remained in escrow to allow my clients time to get the CO on their own. My clients are currently in the process of getting the CO. The money to cover the costs remains in escrow along with a cushion so that in the event the town inspection finds other violations, the cost is covered by the money in escrow. We did all of this in a side stipulation at the closing.

Re: finished Basement/CO issues/ House purchase

I wouldn't. We went to refi our house after my parents owning it for 35 years- there was never a CO issued from when the house was BUILT (in 1949) . The bank could not clear the title (i.e. or let us close) and we had to have the house reinspected by the PITA Town of Hempstead who made us sheetrock a boiler room and get a steel door when we were just gutting the house anyway.

I think to protect yourself you should either make them get the CO or walk away.

Re: finished Basement/CO issues/ House purchase

I would. Ibwould just make sure that it passes inspection and was done to code (as far as safrty, electrical ect not ceiling height)

Re: finished Basement/CO issues/ House purchase

Is it just the ceiling height?You might be able to get a variance on that and still get the CO.

We bought our house w/a finished basement w/o a CO. There were several issues, but one was ceiling height in part of the main area as well as part of the bathroom. in the bathroom, there's an a/c duct in the middle and the toilet is up on a platform, making the ceiling too low (Don't ask, I have no clue)

ANYWAY we fixed the big stuff and were able to get a variance on the ceiling height and furnace room doors. And get the CO.