House with bathroom in basement with no CO's questions (loan, attorney)
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I want to preface this by letting you know that I'm not a contractor so I can only share w/ you my experience.
About 1 yr after we bought our house we received a violation notice.
The house has a small apt in the back where my sister-in-law lives.
The people who owned the house had the property zoned as a senior residence which allows for a 2nd kitchen (in essence an apartment). They had proper COs.
When we bought the house COs did not xfer because we are not senior citizens. Even if we were I doubt Cos are transferrable.
During this process of fixing our violation I found out that
Building codes tell you what you can and can't do - pretty obvious.
Just because a code says you can't do something (have a finished basement/bath) does not mean you can not do it. You simply have to get an exception.
In our case TOH told us that since it was family living in the apt we could apply for a (modified) mother daughter. We had to fill out a lot of paperwork. We were given a list of things that needed to be in place; fire alarms, etc...
The house had to get inspected.
Mail notices to various neighbors w/in 200 and 300 feet. The letter had to be certified, etc...
We had to go to a hearing where these neighbors were given an opportunity to object. No one showed up. In the end we got the COs.
I'd be very surprised if it takes only 2 weeks to get this done.
If it were me, i'd ask a lot of questions.
To my knowledge, it is best to run away from any home without a c/o for all of the major improvements.
Give me a break! If that were the case, half of all homes on LI would not sell. As long as the seller is willing to get the co's proper, what difference would it make. At the OP if you like the house, go for it. Your attorney will make sure things are covered.
We bought our place a few months back which has a full bath in the basement, without a CO. There were no issues when we closed. As a matter of fact, it has a full kitchen down there too. We, as buyers, chose not to raise an issue with it. That's how it gets done - it was NEVER brought up again after we saw it that first time. When we go to sell in XX years, we are hoping for the same, or we'll just get the CO then, but at least we're not "paying" for it now. The CO becomes a big deal if it's obvious, something like a pool in the back, or a deck. Get your ass in a house already!
We bought our place a few months back which has a full bath in the basement, without a CO. There were no issues when we closed. As a matter of fact, it has a full kitchen down there too. We, as buyers, chose not to raise an issue with it. That's how it gets done - it was NEVER brought up again after we saw it that first time. When we go to sell in XX years, we are hoping for the same, or we'll just get the CO then, but at least we're not "paying" for it now. The CO becomes a big deal if it's obvious, something like a pool in the back, or a deck. Get your ass in a house already!
It's pretty much a six of one, half dozen of another kind of deal. If it's noticed later on when you go to sell, the town will double, triple, or quadruple the permit fees. Then of course you'll need to have the items in question inspected and if something isn't up to code, you'll have to make whatever changes are necessary so it is. This can be a real pain because codes tend to change over the years and what was fine and dandy way back when may not be so years down the road. Things may even have to be ripped out entirely and walls may have to be opened so certain things can be seen, etc. And if you're in a time crunch, well just hope and pray that isn't the case. Town workers move slower than turtles.
That said, I hope you made the sellers give you money in lieu of the missing CO(s). You were certainly entitled to it. You should've gotten a few thousand at the very least.
We bought our place a few months back which has a full bath in the basement, without a CO. There were no issues when we closed. As a matter of fact, it has a full kitchen down there too. We, as buyers, chose not to raise an issue with it. That's how it gets done - it was NEVER brought up again after we saw it that first time. When we go to sell in XX years, we are hoping for the same, or we'll just get the CO then, but at least we're not "paying" for it now. The CO becomes a big deal if it's obvious, something like a pool in the back, or a deck. Get your ass in a house already!
LOL, I should hopefully close on my co-op within about 3 weeks. I wanted that close to settled before I started making offers on houses.
Give me a break! If that were the case, half of all homes on LI would not sell. As long as the seller is willing to get the co's proper, what difference would it make. At the OP if you like the house, go for it. Your attorney will make sure things are covered.
Many homes have to be taken off the market until co's are obtained. Lenders tend to not approve sales and appraisals without them. As long as the OP gets the co's before sale, it is not a problem. It can take awhile.
I stand by my comment that I would run away from a house missing co's unless the owner does get them quickly. I would not want the headache when there is great inventory right now.
I can speak to the TNH only. Years ago, it was not a big issue. Today it is a different story and there is no hard and fast answer unfortunately. The IF fact comes into play here.
IF the outside footprint has all permits and c/o's on place you are probably safe there as far as the town goes. BUT, once the lender/appraiser gets involved it CAN be a problem. Why? With foreclosures up, the lenders want all the ducks in a row, because in the event you default, it will then fall upon them to get the paperwork in order. That said, it may pass the lender unnoticed.
Here is the difficult part for you. A previous poster said it COULD entail a plumber. I can tell you if they want to have it official, not only will it entail a plumber and an electrical underwriter, it CAN include the dismantling of walls. Not trying to scare you.... just putting all the cards on the table for you. If you love the place, have the homeowner put $$ escrow and have them obtain the permit. You will be able to close on the house but the permit and all the above, if necessary would at least be on the head of the seller. This escrow should be handled by your attorney.
Also, the one week GUESS-TIMATE I believe is way off. jmo
I guess CO expeditors are good, but not THAT good?
A week? IMHO you'd need a miracle worker, not an expediter for that
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