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Updated over 3 years ago on . Most recent reply

User Stats

87
Posts
19
Votes
Rashad Ellis
  • Brooklyn, NY
19
Votes |
87
Posts

Who is responsible for Certificate of occupancy?

Rashad Ellis
  • Brooklyn, NY
Posted

Buying a 3 unit im NJ using 203k loan. Deal is finally in preclosing department and we're anticipating a closing date. All of a sudden, my attorney and realtor notify me that the previous temporary Certificate of occupancy expired since January and I have to apply for a new one. We been in contract since late January and there has been alot of back and forth about the C of O. The last thing said was that it was transferable and i dont have to worry. You can tell from the timeline mentioned, that there have been alot of delays and extensions with this deal. We're finally close to closing and now they tell me this. I feel like either my attorney or my realtor dropped the ball on this.

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