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so we found a house we love in nassau county, town of hempstead. we're just having a hard time understand this whole C of O business, especially how it pertains to homes built prior to code.
on long island, if the house is built in 1928, prior to certificate of occupancies being issued, the town will give you a "Letter in Lieu", right?
but what happens after that? for mortgage purposes, will we (buyer's) need to obtain anything in addition to this, like a survey or something?
so we found a house we love in nassau county, town of hempstead. we're just having a hard time understand this whole C of O business, especially how it pertains to homes built prior to code.
on long island, if the house is built in 1928, prior to certificate of occupancies being issued, the town will give you a "Letter in Lieu", right?
but what happens after that? for mortgage purposes, will we (buyer's) need to obtain anything in addition to this, like a survey or something?
TIA
You will still need everything that the bank normally requires, including a survey.
You will still need everything that the bank normally requires, including a survey.
thanks tom. i am aware of the other requirements, but not as it pertains to the c of o business. if we have a letter in lieu, we need a survey in addition to this?
and what type of survey do we need? i'm looking all over the internet and from what i'm reading, the survey is something the lenders require anyway, with or without a c of o.
thanks tom. i am aware of the other requirements, but not as it pertains to the c of o business. if we have a letter in lieu, we need a survey in addition to this?
and what type of survey do we need? i'm looking all over the internet and from what i'm reading, the survey is something the lenders require anyway, with or without a c of o.
The letter in lieu is for the improvements on the land, i.e. the house, garage, etc. - the survey also shows the dimensions/layout/borders of the land; two different requirements.
You can check if the Town has a reasonably recent survey on file that you can use (or maybe the current homeowner can provide one); otherwise, you will have to get one--it's always the buyer's responsibility to obtain a survey. I'm sure any one of us Realtors can recommend a surveyor if you want...
The letter in lieu is for the improvements on the land, i.e. the house, garage, etc. - the survey also shows the dimensions/layout/borders of the land; two different requirements.
You can check if the Town has a reasonably recent survey on file that you can use (or maybe the current homeowner can provide one); otherwise, you will have to get one--it's always the buyer's responsibility to obtain a survey. I'm sure any one of us Realtors can recommend a surveyor if you want...
thanks elke! i'd really appreciate a surveyor recommendation. do you know what the typical cost is for this? and how quickly is this done? my RE attorney has told me that it will typically take 3-6 weeks.
also, just so i'm clear, the survey is always needed? at what point in the buying stage do buyers generally get this done?
also, just so i'm clear, the survey is always needed? at what point in the buying stage do buyers generally get this done?
thanks again!
They always want a survey. Don't get one until after you're in contract and as I mentioned before, I'd try to get one from either the seller or the Town before hiring a surveyor.
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