Missing CO's (Oyster Bay: houses, closing, living)

[Gkap190]

Almost went to contract on a house in Town of Oyster Bay, but the house is missing a bunch of CO's. An expediter was brought in, and listed all of the issues. Some of the CO's missing were, skylights, bay window, shed, an extension of the house, variances were needed for the deck and fence. Now the extension has a kitchen in it that obviously needs to come out. We negotiated the price with the second kitchen as we would like to make it a mother daughter with in-laws living there. The expediter said the extension would not be a problem after the kitchen is removed.

Am I crazy to ask for a price reduction of the house of $20,000. They owner is applying for the CO's, but now I will have to replace the kitchen (either with or without the proper CO's). It will probably take 6 months after closing to get those CO's. I know putting in a kitchen won't cost that much, but I am assuming some risk here as well.

Do you think the banks appraiser or the town will make much of a deal about the skylights, fence line, bay window. I know the extension is the real issue.

The owner is willing to put $20,000 in escrow, but that wouldn't cover the cost of replacing the kitchen.

We have one foot out the door on this deal, but we really do like the house a lot. It meets all of the specific criteria we need which has been difficult to find.

[suzook]

Originally Posted by Gkap190

We have one foot out the door on this deal, but we really do like the house a lot.

well move your other foot out the door. There are alot of houses on the market that will fill your needs. You never know what will or wont be approved for the CO issues.