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Hi- I am sure this varies by state but we have an accepted offer on a short sale house in NY. The house has 2 decks, and one of the decks does not have a C/O (certificate of occupancy). The listing agent says that the sellers are not going to get a C/O. Our inspector recommended that the deck be removed since there is rotting etc in it. Our mortgage broker is concerned about us being able to close on a house with a deck with no C/O, and recommended us resolving the issue. What are our options? If the sellers cannot get a C/O, should we ask them to just rip the deck up? I would rather us take care of it and do a good job, but I want to be able to get a mortgage and close. Any advice??
I think you are confusing a permit with a certificate of occupancy. Find out if you can get a permit after the fact from your county, and what processes that would detail.
If this was my new house, I would, after the short sale is approved:
1. fix the deck,
2. get the permit,
3. get the loan approved and
4. close, live happily ever after.
Thanks... Does AS IS always mean that appliances do not have to be in working order at closing, even if they were at inspection? The sellers want to have in the contract that they are not guaranteeing that any appliances will be working. Just trying to get a sense if this is standard.
As Is means as is when you wrote the offer. Most contracts give you the right to cancel or ask for credits if something changes before you close. We do our walkthroughs at the very last minute on Shorts and Foreclosures due to the possibility for vandalism.
We always say "appliances are included at no cost and no warranty". The seller doesn't want you calling them in 6 months because the fridge or washer broke down. That's what the home warranty is for. No cost and no warranty also keeps the appraisers from separating out the value of those items and not including it in the home value when appraising.
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