Question on CO's = Certificate of Occupancy

Posted By

Message

Bellaocchi
Hope Faith Love

Member since 2/07

5694 total posts

Name:

Question on CO's = Certificate of Occupancy

Aren't the owners supposed to provide you with a CO for let's say a garage that was converted into a formal dining room? If they say that it would be up to the buyer if they want a CO.. would you think this is kinda shady?

Obviously the owners never applied for the CO b/c they did not want their taxes to go up higher.

This could be a PIA for future buyers once they try to resell the house in the future correct?

Posted 4/16/07 1:14 PM

Forum Mail Edit Post Print Quote Reply

Prudential Douglas Elliman Real Estate

Long Island's Largest Bridal Resource

| Long Island Weddings

SweetTooth
I'm a tired mommy!

Member since 12/05

20105 total posts

Name:
Lauren

Re: Question on CO's = Certificate of Occupancy

Posted by VRF1125

Aren't the owners supposed to provide you with a CO for let's say a garage that was converted into a formal dining room? If they say that it would be up to the buyer if they want a CO.. would you think this is kinda shady?

Obviously the owners never applied for the CO b/c they did not want their taxes to go up higher.

This could be a PIA for future buyers once they try to resell the house in the future correct?

YES to all of your questions!
We had this problem with a house we were going to buy and did not go through with it.
First of all, it will be difficult to obtain a mortgage without the CO for something like that.
Secondly, if the buyer inherits the problem, and things (i.e. electric, plumbing, etc.) were not done to code, then the buyer as the new owner is responsible for brining everything up to code, no matter what the expense is.

If there is anything like that in your prospective house the sellers should provide a C/O. If they don't want to get one, I would walk away.

Posted 4/16/07 1:18 PM

Forum Mail Edit Post Print Quote Reply

kerrycec03
Mom of 2 beautiful boys!!

Member since 6/06

13519 total posts

Name:
Kerry

Re: Question on CO's = Certificate of Occupancy

exactly!

Posted 4/16/07 1:53 PM

Forum Mail Edit Post Print Quote Reply

CityNYGirl
My everything!!!!!

Member since 5/05

2324 total posts

Name:
Betty

Re: Question on CO's = Certificate of Occupancy

This happened to us when we were buying our house...

The previous owners converted the garage into an extra bedroom and also had a huge deck build.

When the appraiser (from the bank) came in, he asked for copies of that..they didn't have it so they needed to go and get them from the town before we could get the mortgage and the house could be sold.......

Posted 4/16/07 2:07 PM

Forum Mail Edit Post Print Quote Reply

dbleplay17
My 2 boys!

Member since 10/06

4578 total posts

Name:
Chrissy

Re: Question on CO's = Certificate of Occupancy

however if the house is sold as is it is the buyers responsibility

but if it is caught early u can neg it. I knwo that if the CO isnt in place and the work is done it is like 3 times the price! Chat Icon So if you are a buyer try to catch it early