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I know C of O refers to certificate of occupancy but when they say 'owner' to obtain town c of o... are they talking about the current owners or the 'new' owners.
What does getting a new CofO entail? If I chose this house what would I have to go through to get a new C of O?
This particular house is in NJ. I understand NJ is pretty strict.
This is from the ad...
Ranch with separate entrance to full finished basement offering an eat-in kitchen, full bath, living room, den, for possible mother/daughter arrangement . Owner to obtain town "C of O".
I imagine it was either a non-permitted conversion or a permitted one that never had a a final inspection and CO issued. In either case, it sounds like the seller is going to get the issue resolved prior to closing but you always want to be sure that the contract is very specific on what has to happen, when it has to happen by, who is responsible for making it happen on time, and what happens if it is not done on time.
When this appears on a RE listing, it's usually the case for the new buyer to obtain C/O. Seller is not going to guarantee that you are able to obtain C/O. I am assuming this is a listing for a home with say with a 2nd kitchen. Just note not being able to get C/O is not something you will be able to use to get out of contract.
You may want to contact the township and do some digging with the property in question first.
In a case like this you want the current seller to get the CO. It sounds as if work was done in the basement that was not permitted.
It is possible that the town will find something wrong with the basement finish and require repairs /and/or the kitchen to be removed. As a buyer you want this taken care of before you buy the house.
If you really want this house, put it in your sales contract that the seller is obtain the CO prior to closing and is responsible for all costs and repairs required to get the CO. This is not the buyer's responsibility.
Yes make sure all c/o's have been obtained before signing.
The problem is that a lot of towns don't do C of O until a week or two before closing. It is red flag when a listing includes wording of obtaining C of O for "advertised/suggested" use space. It's usually a sign that there may be issue getting one. Otherwise, current own would have gotten one already.
Judging from what you guys have said and the little I do know, I don't think I want to get involved with something like this. I was just attracted to the area and price but it really sounds like it would be a potential pain in the butt. Not only that but I realized that even if they do issue a new C of O, the property tax will probably go up and that's something I'd like to avoid.
Fortunately, there's plenty of homes like this in those areas so I'll just keep on looking.
'owner' is ambiguous. It should say 'seller' or 'buyer' on all terms that involve seller or buyer. This is sloppy work by the listing agent. Don't assume anything.
If this is a FSBO, it likely refers to seller. Still, don't assume anything
'owner' is ambiguous. It should say 'seller' or 'buyer' on all terms that involve seller or buyer. This is sloppy work by the listing agent. Don't assume anything.
If this is a FSBO, it likely refers to seller. Still, don't assume anything
Its not a FSBO. That was written by a real estate agent or whomever writes those things for the MLS. I agree the word 'owner' is a too ambiguous and that just makes me want to stay away from this house even more. I don't need a house with problems.
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