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Old 12-10-2009, 10:29 AM
 
7 posts, read 20,613 times
Reputation: 11

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There's a missing CO, but we agreed to have the seller put money on escrow. We asked to have $10,000, but seller offered $5,000. In Nassau, what is the usual amount in escrow for a missing CO (additional bedroom)? Do sellers actually follow-through with this, or in the end, they let the buyer have the money and the work of obtaining CO?

Can anyone please give me a ballpark figure of obtaining a CO for an additional bedroom? I can only wish the seller was more upfront regarding the missing COs.
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Old 12-10-2009, 10:34 AM
 
Location: Georgia
2,471 posts, read 5,866,058 times
Reputation: 608
Welcome to the process of home buying !! (sarcasm ON)....

Only suggestion I have (regardless of what escrow they are putting) do not close without the CO.....
That way you are safe.
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Old 12-10-2009, 10:37 AM
 
Location: In the basket
9,066 posts, read 10,579,671 times
Reputation: 5534
I had to put up $5000 for a missing CC on my last house. Nassau County.
I was the seller. Got most of the money back after I obtained the CC.
Wasn't too big of a deal. Just watch the fine print from the bank.
They took $500 for some fee for holding the escrow, and I had no idea, as it was the buyer's bank that held the escrow money. I had no knowledge or control over it. Really pissed me off, I literally felt sick. How these banks get away with this crap is beyond me.

As far as actually getting the CO, you have to apply to the town for it, and get the necessary inspections...plumbing, electrical etc...there are obviously fee's involved.
Everything has a fee these days. I might start charging a fee to read my posts on message boards...ha.
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Old 12-10-2009, 11:35 AM
 
Location: Tri-State Area
2,936 posts, read 4,941,229 times
Reputation: 1805
Get the CO! If the seller really wants to sell, believe me they'll do it.
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Old 12-13-2009, 04:55 PM
 
Location: Some where new!
324 posts, read 628,623 times
Reputation: 383
I had to leave $2,000 in escrow. The ex-hubby never did get the CO and the new owner just ripped down the deck and awning and resold the house. The house was sold due to a divorce and the ex just didn't care about the CO.
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Old 12-14-2009, 08:36 AM
 
1,344 posts, read 4,264,430 times
Reputation: 843
could cost $1K or $20K the cost of the CO isn't much, its paying an expeditor and bringing the additon to code. which it could be fine now, or need a lot of work.
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