Forum Archive

I’ve read thru all the forum threads on C of O’s – while all were interesting and informative, no one else’s situation was exactly like mine. I am purchasing a legal 1-family home in Brooklyn that is “set up as a 2″ (and was advertised as such by the broker). I intend to live in the home with my partner. We can afford the mortgage, but in order to pay for renovations over the next few years, thought we could file for a change in C of O to a 2-family and rent out the top floor. The home was built before 1938, so there is no C of O on record; the bank is fine with this and has approved the mortgage. Here’s my questions: 1) Does not having a C of O make things more complicated or easier in terms of changing from a 1- to a 2-family; 2) How much might such a switch cost from a city filing and legal fee standpoint? And, finally; 3) if my annual taxes are currently $1,800 how might I expect them to go up?

By the way, during the title search, a citation was discovered where an illegal tenant complained to the city about lack of heat. Now, the seller’s attorney has to get the city to come and cap off the gas on the second floor and then a city inspector has to come and approve it all. Might this cause problems down the line?

Many thanks!