Certificate of Occupancy
An important consideration when purchasing a home is the status of the Certificate of Occupancy. A Certificate of Occupancy is essentially the approval provided by the local governmental authority that the house or building was constructed in accordance with local building laws and regulations.
Certificates of Occupancy should be amended when modifications or changes are made to the building structure that require governmental approvals. Very often, a physical survey or examination of the property or structure will reveal changes or modifications. If the Certificate of Occupancy has not been amended to reflect those changes, the property owner will be responsible to obtain the required approvals. Additionally, lending institutions usually refuse to close a loan on property where the structures are not in compliance with all building laws and regulations.
Real estate deals often don't run smoothly and efficiently because important items are overlooked. I am an experienced attorney that can help you save time, aggravation, and disappointment. I work closely with my clients in all aspects of real estate transactions including property inspection, real estate broker agreements, contract preparation and negotiation, financing, and title, survey, and closings issues.
For all your real estate needs, contact me directly at (212) 355-2575 or fill out my contact form. My office is conveniently located near 52nd Street on 3rd Avenue.