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did anyone buy/sell a house without a c/o?
We're thinking of selling our home and this is one of my many questions. We have a bathroom in the basement that we need to get a c/o for and I assume we also need to make the basement "legal" since we're using it as living space. We're thinking of installing a window egress. Is there anyone we can call to come in and let us know what else we need to do to get a c/o? We're in TOH. TIA
Message edited 1/4/2012 9:04:06 AM.
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Posted 1/4/12 9:03 AM  |
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want2bmommy
LIF Infant
Member since 4/11 308 total posts
Name:
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Re: did anyone buy/sell a house without a c/o?
I don't have any advice about how to go about and obtain a c/o if there is none.I thought we just had to apply through the town and someone comes to the home to look at the space?
But, our home, dining room, doesn't have a c/o. We were nervous about the town finding out once we realized there is no c/o but fortunately, everything went smoothly at closing.
We purchased the house with the intention of expanding and we're hoping that when the town comes to re-assess our taxes and all after the expansion that they don't realize about the dining room and add that on top of the expansion...but that is a risk DH wanted to take. I tried to push him to get a c/o, but men are so stubborn!
Sorry, no real advice but wanted to wish you good luck!
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| Posted 1/4/12 11:05 AM |
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Jenhos
Maeve
Member since 6/05 3273 total posts
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Re: did anyone buy/sell a house without a c/o?
We sold ours without the c/o. Our realtor told potential buyers up front we had no c/o for the basement and would not get one. She said they should look at the finished basement and bathroom as a gift. We had no issue with it getting picked up throughout the process and closed with no issues.
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| Posted 1/4/12 11:28 AM |
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KittyGags
LIF Adult
Member since 7/09 5614 total posts
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Re: did anyone buy/sell a house without a c/o?
I bought mine without a c/o. We have a converted loft bedroom that took part of the attic that we don't have a c/o for....and we have an illegal attached shed. Sh!
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| Posted 1/4/12 11:30 AM |
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Nifheim
allo
Member since 1/09 5476 total posts
Name:
Jennifer
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Re: did anyone buy/sell a house without a c/o?
depends on the type of loan but most either the seller or buyer will eventually need the CO. Once the appraisal happens its noted that a living space in the basement and bathroom exists and in most cases that can be illegal (bathroom in the basement in our village are illegal) and must be ripped out before a sale can happen. The living space isn't so much of an issue.
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| Posted 1/4/12 11:49 AM |
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MockingJay
Ring out the old...
Member since 9/08 1312 total posts
Name:
Ring in the new!
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Re: did anyone buy/sell a house without a c/o?
I bought my house without a C/O for the garage but it limited the banks we could use. Also, we had an agreement with the owner that he would pursue the permits post closing and we would hold $$ in escrow until the C/Os were issued.
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| Posted 1/4/12 12:11 PM |
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SlurpeeDad
LIF Adolescent
Member since 1/11 713 total posts
Name:
SlurpeeDad
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Re: did anyone buy/sell a house without a c/o?
Posted by Nifheim
depends on the type of loan but most either the seller or buyer will eventually need the CO. Once the appraisal happens its noted that a living space in the basement and bathroom exists and in most cases that can be illegal (bathroom in the basement in our village are illegal) and must be ripped out before a sale can happen. The living space isn't so much of an issue.
The appraisal doesn't go inside, so they wouldn't know the basement is finished. Maybe that isn't always the case, but when we bought our house, they didn't go inside when they did the appraisal.
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| Posted 1/4/12 5:37 PM |
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MrsM429
Mama x2 <3
Member since 12/10 4946 total posts
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Re: did anyone buy/sell a house without a c/o?
We sold our home in June, which had a deck added on by dhs grandfather but without a c/o. Because we couldn't obtain one, we were told we would have to list it as a cash offer only. Luckily the buyer was a flipper who bought the house at our asking price with an all cash offer, so the deck didn't become an issue.
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| Posted 1/4/12 7:21 PM |
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ElizaRags35
My 2 Girls
Member since 2/09 20494 total posts
Name:
Me
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Re: did anyone buy/sell a house without a c/o?
Our lender wouldn't ok us for closing until the seller got all C/O's in order.
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| Posted 1/4/12 10:27 PM |
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julz33
i run for bacon
Member since 5/05 20584 total posts
Name:
julz
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Re: did anyone buy/sell a house without a c/o?
My moms house had no COs. We had trouble selling the house without them - the first question ever buyer asked was if we had the COs. I hired an expediter and had the drawing done, permits applied for, approved, various inspections and then COs done. Cost a few thousand $$. And that is without any repairs/changes if they would have found something at the inspection. We had a finished basement with bathroom and OSE to obtain permits and COs for.  We had the shed and carport removed rather than shell out more $$$$$ c we would need variances too. We are lucky, the deck was "grandfathered in" because the requirements had changed and the inspector said the deck looked "old enough". 
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| Posted 1/4/12 11:00 PM |
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TheDivineMrsM
2 girls 4 me!
Member since 8/08 7878 total posts
Name:
Mama mama mama....
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Re: did anyone buy/sell a house without a c/o?
Posted by ElizaRags35
Our lender wouldn't ok us for closing until the seller got all C/O's in order.
Same. here. The sellers had to ultimately put money in escrow and prove that they were in the process of getting the CO so that we could close w/o it.
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| Posted 1/5/12 10:33 AM |
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Kmarie36
LIF Adult
Member since 9/10 1449 total posts
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Re: did anyone buy/sell a house without a c/o?
Posted by ElizaRags35
Our lender wouldn't ok us for closing until the seller got all C/O's in order.
Same here.
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| Posted 1/5/12 10:52 PM |
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maybesoon
LIF Adult
Member since 9/09 5981 total posts
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Re: did anyone buy/sell a house without a c/o?
We closed without co for several major things in the house. The old owners put cash in escrow and we did the work for obtaining several permits. They comped us a large amount of cash to do the legwork .
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| Posted 1/5/12 11:15 PM |
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