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Sellers beware of hidden issues on your Certificate of Occupancy

By : | Add Comment | On : 7:45 am | Category : Uncategorized

It is evident that the New York Real Estate market is starting to pick up speed in more than one way in 2013! Everyone’s gearing up! As a New York City, Westchester County & Bronx Real Estate company, we feel the need to alert homeowners about what it will take to methodically prepare for a successful real estate transaction.

Let’s first examine what is and what is not feasible at this time:

  • Does your home have enough equity in it?
  • What are the prices in the area you will be relocating to?
  • Do you want to make a run at it and do personal marketing, or will you seek a professional Realtor?

These are the central points to consider when making a well thought out determination.

In another area that many homeowners do not pay attention to; there could be troubles brewing and you will need to pay special attention here, before they stop your initiative. Certificate Of Occupancy related issues!  They are real and very problematic.  Banks and title companies are no longer willing to look away as they did in the past and nor should you, your Attorney, or your Real Estate agent.   What is this issue all about?

When a house is built and before it gets approval to have the homeowners move in, their city’s building department will have to certify each and every room in the house. As years go by and rooms or bathrooms, kitchens, porches, decks and garages are added by the current homeowners, they too will have to be 100% certified by their city’s building department.

Unless you check with the building department ahead of time, you could run into many obstacles throughout the selling process, the kind that will frustrate you, waist your time, money and energy. In short, you will be left with a pretty bad flavor in your mouth as a result.  Make sure your Certificate of Occupancy has all your extra rooms, bathrooms, decks etc… that were added over the years to make the marketing of your home a smooth experience.

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