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Hi- We have an accepted offer on a short sale house in NY. The house has 2 decks (connected by a few steps/walkway), 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??
The same thing happened to us when we bought our house. The deck was a hazard and had no C/O. We didn't want them to replace it because we wanted it done well and we wanted synthetic wood with three little ones. We also didn't want them to tear it down because we didn't want a door leading to nothing from the kitchen until we built the deck. Our lawyer drew up a paper stating we would replace the deck according to code and we signed it. That was all we needed to purchase the house but this wasn't a short sale so I am not sure if different rules apply.
We are almost six months going into a signed contract on a short sale. I don't know your circumstances but I so wish I hadn't done it. School is about to start and we are still not in our house. Even best case scenarios are complicated on short sales, so if you have any type of problem I would strongly reconsider.
Is this the one in rosedale area, white plains. I guess you will be tied to the deal for 6 months or more. We looked at that one but rightfully decided not to go with it. The short sale process in NY area is painfull as VRV is indicating. you are at the Bank's mercy. If these banks were willing to make things a bit easy a lot of their short sale properties would move faster.
Believe me there are other good opportunities out there in this market. Just a matter of looking a bit harder.
Thats my 2 cents
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