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First time home buyer. We are recently interested in a house in East Meadow.
However, today we find that the facts listed on MLSLI are different from the tax records on the Nassau County website.
It seems that the owner converted one bed room into a bath room, and there is an additional heated sunroom not reported. Would it be a serious issue when closing the house? How would it affect the property tax?
From what I understand (and others know a lot more about this than I do), the current owner would have to get COs for those additions prior to the sale. If they don't meet building code, modifications would have to be made - but that whole process and it's cost is on the seller.
The property taxes WILL go up in the next year's assessment because of it, although since those are two fairly minor improvements, I'm not really sure how much they would go up.
Don't assume the bank, real estate agent, the seller, the Town, or anyone else will ensure all COs, variances, etc. will be properly recorded or taken care of prior to closing.
Also, don't overlook the possibility that the house doesn't satisfy local building, electrical, or plumbing codes. Even a good home inspection won't tell you what is between the floors or in the walls. And whenever undocumented construction has taken place you can be sure a Town inspector wasn't there prior to drywalling to inspect the electrical and plumbing. In these cases improper or dangerous work may have taken place.
Ask for receipts for the conversion. You probably won't get them with the explanation that a family member did the work or the co. is no longer in business. The reason you'd be asking would be to see if the warranty on the work is still valid or if there's a problem with the work you'd like to report who did it.
Another way to approach the issue would be to ask for a copy of the blueprints used for the work...but these rarely exist for a conversion on Long Island.
Edit: Yes, you should probably walk away unless this house "knocks your socks off".
Last edited by James1202; 06-12-2011 at 05:30 PM..
Reason: addendum
The addition would show on the survey which is generally ordered once you go to contract. You could your agent to ask to see the C of O's and C of C's and permits that the homeowner has or at least ask if they are all up to date and see what the response is.
The bathroom is a horse of another color especially if they have not altered the outside foot print to accomplish the change. That might be picked up by the lender or appraiser. A friend of ours just bought a house that he is going to demo,(he is a contractor) it is run down beyond repair. The roof had a tarp on it and it has been vacant for 15 years. The bank appraiser made the homeowner put on a new roof, abate the mold and paint every room before they would grant the buyer a mortgage, even though they had the plans already drawn up for the house they planned on putting up.
My point in that story is that you never know which agency will throw the monkey wrench in to the purchase, if at all. If, things can be obtained and you love the home, the seller would be required to put money in escrow until the items were cleared and a clean slate was granted by the town. Good luck.
The addition would show on the survey which is generally ordered once you go to contract. You could your agent to ask to see the C of O's and C of C's and permits that the homeowner has or at least ask if they are all up to date and see what the response is.
The bathroom is a horse of another color especially if they have not altered the outside foot print to accomplish the change. That might be picked up by the lender or appraiser. A friend of ours just bought a house that he is going to demo,(he is a contractor) it is run down beyond repair. The roof had a tarp on it and it has been vacant for 15 years. The bank appraiser made the homeowner put on a new roof, abate the mold and paint every room before they would grant the buyer a mortgage, even though they had the plans already drawn up for the house they planned on putting up.
My point in that story is that you never know which agency will throw the monkey wrench in to the purchase, if at all. If, things can be obtained and you love the home, the seller would be required to put money in escrow until the items were cleared and a clean slate was granted by the town. Good luck.
the reason they did that is b/c he was buying a house, that he probably noted that he was going to occupy.
likely the bank wouldn't give him a loan just for the land. Thats why most contractors who build new homes either invest themselves, or have investors to pay cash for the homes, as in their current state, they're unmortageable.
I would inquire if they have CO's for the sunroom and bathroom, and if they intend on getting them. I would make sure that if I were buying it, that they would get them. As long as you bring it up before hand, everyone is in the know and its not a surprise halfway through the process.
your lawyer should be able to ensure that they are gotten, of course you should bring it up to your lawyer before going to contract.
I'd also skip the county and go to the town. The town has the records on the CO, additions made etc. you can have them pull the file on the house. it isn't hard, but you do have to go down there.
The Nassau County assessor website does not provide info as to what has a C.O. You need to go to the building department of the the town or other municipality for this stuff to get an accurate picture.
Walk away. The owner will have to fix all this and when hes done the taxes might actually go up. Also if its not fixed if you are taking out a mortgage i would not think the bank will let you buy it.
Use it as a negotiating tool to get the price lower or threaten to walk away. Trust me, it would turn alot of potential buyers off and you can use this to your advantage, and if you chose to walk away, there's still plenty of good deals to be had!
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You have to go to the town
