Open co's after closing..

Has anyone gone threw the experience of Co's that were needed but closed before it was approved? We are in this process now and closing soon. Just want to see what people's experience's were.

Re: Open co's after closing..

We had one, we signed something at closing that said we'd have it taken care of within 30 days of closing. We bought the house from my ILs so DH knew if it turned into a huge expense he'd be able to get them to give us some money.

Since ours was open for 30+ years, we had to hire an expeditor to find the original application & blueprints with the town, then they arranged for an inspector, we had to have some electrical work done to bring it up to current code, have a second inspection and then it was done.

Since ours was storage space not livable space we were not responsible for back taxes. If it is livable space they can come after you as the homeowner for back taxes.

Re: Open co's after closing..

I havne't, but we have friends that did this.
They bought the house over a yr ago and are still having problems.

They closed knowing the seller didn't have CO's on the detached garage. After they moved in they had a company come in and shorten the height and width, to code. When they had the town come back to approve the CO they wanted to see the inside of the house. They were than hit with MORE issues that need to be fixed and up to code before they can receive the original CO for the garage.

They have 1 yr to get them all fixed.

Re: Open co's after closing..

This is kind of a scary process. I didn't realize that we could be responsible for back taxes. uggh

Re: Open co's after closing..

We did - for the garage. The whatchamacallit only showed the house with a 1 car detached garage but it was a 2 car detached garage. It was cleared up shortly after we closed and we didn't owe any back taxes...b/c the survey (previously known as the whatchamacallit - brain fart lifted!) was outdated.

Re: Open co's after closing..

Check with your mortgage company first--ours would not allow the closing to take place until the CO was closed (it was for conversion from oil to a gas furnace).

Re: Open co's after closing..

It is in your best interest to have all c/os taken care of prior to closing if you are buying because if there is a problem you don't want to be responsible for it. I just had a closing where we waited over two months to get the proper c/o for a sunroom because the sunroom company never finished what htey were hired todo. It was well worth the wait because my client didn't have to get involved with the town (he wanted to do work on this property that needed town approval and didn't want to leave any bad tastes in their mouth) plus the selelrs are the ones who had the sunroom built and still had all the necessary contact info with the company and the relationship with the company. Also the inspector found two other issues that would need to be resolved and brought up to code prior to issuing the c/o on the sunroom. If we had closed with an open c/o we agreed to hold $50,000 in escrow until the c/o was issued.